Paychex (NASDAQ:PAYX) Price Target Increased to $142.00 by Analysts at UBS Group

Paychex (NASDAQ:PAYX) had its price target boosted by equities researchers at UBS Group from $125.00 to $142.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the business services provider’s stock. UBS Group’s target price would suggest a potential upside of 1.89% from the stock’s current price.

Other equities analysts also recently issued research reports about the stock. Citigroup lifted their price target on shares of Paychex from $125.00 to $145.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. JPMorgan Chase & Co. upped their target price on shares of Paychex from $120.00 to $128.00 and gave the stock an “underweight” rating in a report on Tuesday, August 20th. Barclays raised their price target on Paychex from $118.00 to $132.00 and gave the company an “equal weight” rating in a report on Monday, September 23rd. Robert W. Baird dropped their price objective on Paychex from $126.00 to $124.00 and set a “neutral” rating for the company in a research note on Thursday, June 27th. Finally, Bank of America lifted their target price on Paychex from $111.00 to $113.00 and gave the company an “underperform” rating in a research note on Thursday, June 27th. Two analysts have rated the stock with a sell rating and twelve have issued a hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $130.77.

Paychex Trading Down 1.0 %

Shares of Paychex stock opened at $139.36 on Wednesday. Paychex has a 1-year low of $106.27 and a 1-year high of $142.04. The company’s fifty day simple moving average is $130.19 and its 200-day simple moving average is $124.70. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.37 and a quick ratio of 1.37. The stock has a market capitalization of $50.13 billion, a PE ratio of 29.84, a P/E/G ratio of 3.52 and a beta of 1.00.

Paychex (NASDAQ:PAYX) last released its quarterly earnings results on Tuesday, October 1st. The business services provider reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.02. Paychex had a return on equity of 46.63% and a net margin of 32.03%. The business had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same quarter in the previous year, the company posted $1.14 earnings per share. Paychex’s revenue for the quarter was up 2.5% on a year-over-year basis. As a group, equities analysts anticipate that Paychex will post 4.99 earnings per share for the current year.

Insider Buying and Selling at Paychex

In other news, VP Mark Anthony Bottini sold 8,954 shares of the business’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $123.60, for a total transaction of $1,106,714.40. Following the transaction, the vice president now owns 79,232 shares of the company’s stock, valued at approximately $9,793,075.20. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, VP Mark Anthony Bottini sold 8,954 shares of Paychex stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $123.60, for a total transaction of $1,106,714.40. Following the completion of the transaction, the vice president now directly owns 79,232 shares of the company’s stock, valued at approximately $9,793,075.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director David J. S. Flaschen sold 14,434 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $125.21, for a total transaction of $1,807,281.14. Following the transaction, the director now owns 5,383 shares in the company, valued at $674,005.43. The disclosure for this sale can be found here. Insiders have sold a total of 45,673 shares of company stock worth $5,636,085 over the last ninety days. Company insiders own 11.50% of the company’s stock.

Institutional Investors Weigh In On Paychex

Institutional investors and hedge funds have recently modified their holdings of the business. CIBC Private Wealth Group LLC lifted its holdings in Paychex by 2.4% during the 4th quarter. CIBC Private Wealth Group LLC now owns 33,639 shares of the business services provider’s stock valued at $4,007,000 after buying an additional 797 shares in the last quarter. Capital World Investors bought a new stake in shares of Paychex during the fourth quarter valued at approximately $115,494,000. Tower Research Capital LLC TRC boosted its holdings in shares of Paychex by 89.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 48,943 shares of the business services provider’s stock valued at $5,830,000 after purchasing an additional 23,047 shares during the period. Oppenheimer & Co. Inc. boosted its holdings in shares of Paychex by 4.3% in the fourth quarter. Oppenheimer & Co. Inc. now owns 22,118 shares of the business services provider’s stock valued at $2,634,000 after purchasing an additional 906 shares during the period. Finally, Cetera Advisor Networks LLC grew its stake in Paychex by 6.1% in the fourth quarter. Cetera Advisor Networks LLC now owns 73,067 shares of the business services provider’s stock worth $8,703,000 after purchasing an additional 4,177 shares in the last quarter. 83.47% of the stock is owned by institutional investors.

About Paychex

Paychex, Inc, together with its subsidiaries, provides integrated human capital management solutions (HCM) for payroll, benefits, human resources (HR), and insurance services for small to medium-sized businesses in the United States, Europe, and India. It offers payroll processing services; payroll tax administration services; employee payment services; and regulatory compliance services, such as new-hire reporting and garnishment processing.