Paychex (PAYX) Stock Forecast, Price & News

12 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Paychex in the last twelve months. There are currently 3 sell ratings, 5 hold ratings and 4 buy ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "hold" PAYX shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in PAYX, but not buy additional shares or sell existing shares.
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12 Wall Street analysts have issued 1 year price targets for Paychex's stock. Their PAYX share price forecasts range from $103.00 to $138.00. On average, they expect the company's stock price to reach $123.12 in the next twelve months. This suggests a possible upside of 6.5% from the stock's current price.
View analysts price targets for PAYX or view top-rated stocks among Wall Street analysts.

Paychex's stock was trading at $115.56 at the beginning of 2023. Since then, PAYX shares have increased by 0.1% and is now trading at $115.65.
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The company is scheduled to release its next quarterly earnings announcement on Wednesday, September 27th 2023.
View our PAYX earnings forecast.

Paychex will be holding an earnings conference call on Wednesday, September 27th at 9:30 AM Eastern. Interested parties can register for or listen to the call using this link or dial in at 402-220-6080.

Paychex, Inc. (NASDAQ:PAYX) issued its quarterly earnings data on Thursday, June, 29th. The business services provider reported $0.97 EPS for the quarter, hitting analysts' consensus estimates of $0.97. The business services provider earned $1.20 billion during the quarter, compared to analysts' expectations of $1.22 billion. Paychex had a net margin of 31.10% and a trailing twelve-month return on equity of 46.79%. The company's quarterly revenue was up 6.7% compared to the same quarter last year. During the same period last year, the firm earned $0.81 earnings per share.
Read the conference call transcript.

Paychex declared a quarterly dividend on Thursday, July 13th. Stockholders of record on Thursday, August 10th will be given a dividend of $0.89 per share on Thursday, August 24th. This represents a $3.56 annualized dividend and a dividend yield of 3.08%. The ex-dividend date is Wednesday, August 9th.
Read our dividend analysis for PAYX.

ETFs with the largest weight of Paychex (NASDAQ:PAYX) stock in their portfolio include WBI BullBear Value 3000 ETF (WBIF), SmartETFs Dividend Builder ETF (DIVS), Democratic Large Cap Core ETF (DEMZ), First Trust Capital Strength ETF (FTCS), Dividend Performers ETF (IPDP), First Trust NASDAQ 100 Ex-Technology Sector Index Fund (QQXT), KFA Value Line Dynamic Core Equity Index ETF (KVLE) and Inspire 100 ETF (BIBL).

Paychex (NASDAQ:PAYX) pays an annual dividend of $3.56 per share and currently has a dividend yield of 3.07%. The company has been increasing its dividend for 13 consecutive years, indicating the company has a strong committment to maintain and grow its dividend. The dividend payout ratio is 82.79%. Payout ratios above 75% are not desirable because they may not be sustainable. Based on earnings estimates, PAYX will have a dividend payout ratio of 71.49% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for PAYX.

Paychex issued an update on its FY 2024 earnings guidance on Thursday, June, 29th. The company provided earnings per share guidance of $4.65-$4.70 for the period, compared to the consensus earnings per share estimate of $4.59. The company issued revenue guidance of $5.31 billion-$5.36 billion, compared to the consensus revenue estimate of $5.31 billion.

975 employees have rated Paychex Chief Executive Officer Martin Mucci on Glassdoor.com. Martin Mucci has an approval rating of 90% among the company's employees.

Based on aggregate information from My MarketBeat watchlists, some companies that other Paychex investors own include Intel (INTC), Cisco Systems (CSCO), AT&T (T), General Electric (GE), Johnson & Johnson (JNJ), Pfizer (PFE), Verizon Communications (VZ), NVIDIA (NVDA), Procter & Gamble (PG) and AbbVie (ABBV).

Paychex trades on the NASDAQ under the ticker symbol "PAYX."

Paychex's stock is owned by many different institutional and retail investors. Top institutional shareholders include BlackRock Inc. (7.47%), Capital International Investors (5.22%), State Street Corp (3.58%), Bank of New York Mellon Corp (2.89%), Geode Capital Management LLC (2.30%) and Charles Schwab Investment Management Inc. (1.84%). Insiders that own company stock include David J S Flaschen, David J S Flaschen, Efrain Rivera, John B Gibson, Joseph Doody, Joseph M Tucci, Joseph M Velli, Karen E Saunders-Mcclendon, Mark Anthony Bottini, Martin Mucci, Michael E Gioja, Robert L Schrader, Robert L Schrader, Stephanie L Schaeffer and Stephanie L Schaeffer.
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Shares of PAYX stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of PAYX stock can currently be purchased for approximately $115.65.

Paychex (NASDAQ:PAYX) has a market capitalization of $41.75 billion and generates $5.01 billion in revenue each year. The business services provider earns $1.56 billion in net income (profit) each year or $4.30 on an earnings per share basis.

The company employs 16,600 workers across the globe.

Paychex's mailing address is 911 PANORAMA TRAIL SOUTH, ROCHESTER NY, 14625. The official website for the company is www.paychex.com. The business services provider can be reached via phone at (585) 385-6666, via email at tjallen@paychex.com, or via fax at 302-655-5049.