Paychex (PAYX) Stock Forecast, Price & News

13 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Paychex in the last twelve months. There are currently 3 sell ratings, 7 hold ratings and 3 buy ratings for the stock. The consensus among Wall Street 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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13 analysts have issued 1 year target prices for Paychex's stock. Their PAYX share price forecasts range from $105.00 to $138.00. On average, they anticipate the company's stock price to reach $122.27 in the next twelve months. This suggests a possible upside of 9.7% 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 on January 1st, 2023. Since then, PAYX shares have decreased by 3.6% and is now trading at $111.41.
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The company is scheduled to release its next quarterly earnings announcement on Wednesday, July 5th 2023.
View our PAYX earnings forecast.

Paychex, Inc. (NASDAQ:PAYX) released its quarterly earnings data on Wednesday, March, 29th. The business services provider reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.05. The business services provider had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.35 billion. Paychex had a net margin of 30.54% and a trailing twelve-month return on equity of 46.56%. Paychex's revenue for the quarter was up 8.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.15 earnings per share.
Read the conference call transcript.

Paychex declared a quarterly dividend on Friday, April 28th. Investors of record on Thursday, May 11th will be given a dividend of $0.89 per share on Thursday, May 25th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date is Wednesday, May 10th. This is a boost from the stock's previous quarterly dividend of $0.79.
Read our dividend analysis for PAYX.

ETFs with the largest weight of Paychex (NASDAQ:PAYX) stock in their portfolio include ProShares Nasdaq-100 Dorsey Wright Momentum ETF (QQQA), SmartETFs Dividend Builder ETF (DIVS), First Trust Horizon Managed Volatility Domestic ETF (HUSV), First Trust Capital Strength ETF (FTCS), Dividend Performers ETF (IPDP), Democratic Large Cap Core ETF (DEMZ), John Hancock U.S. High Dividend ETF (JHDV) and First Trust NASDAQ 100 Ex-Technology Sector Index Fund (QQXT).

Paychex (NASDAQ:PAYX) pays an annual dividend of $3.56 per share and currently has a dividend yield of 3.23%. 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 85.78%. Payout ratios above 75% are not desirable because they may not be sustainable. Based on EPS estimates, PAYX will have a dividend payout ratio of 77.22% in the coming year. This indicates that the company may not be able to sustain their current dividend.
Read our dividend analysis for PAYX.

Paychex declared that its board has authorized a stock buyback program on Thursday, July 8th 2021, which authorizes the company to buyback $400,000,000.00 in shares, according to EventVestor. This buyback authorization authorizes the company to buy up to 1% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's board believes its stock is undervalued.

Paychex issued an update on its FY 2023 earnings guidance on Wednesday, March, 29th. The company provided earnings per share (EPS) guidance of $4.26-$4.30 for the period, compared to the consensus estimate of $4.24. The company issued revenue guidance of -.

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 retail and institutional investors. Top institutional shareholders include BlackRock Inc. (8.55%), State Street Corp (3.61%), Bank of America Corp DE (3.26%), Bank of New York Mellon Corp (2.96%), Geode Capital Management LLC (2.21%) and Charles Schwab Investment Management Inc. (1.75%). 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 $111.41.

Paychex (NASDAQ:PAYX) has a market capitalization of $40.16 billion and generates $4.61 billion in revenue each year. The business services provider earns $1.39 billion in net income (profit) each year or $4.15 on an earnings per share basis.

The company employs 16,000 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.