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Paychex (PAYX) Stock Price, News & Analysis

$122.34
+0.11 (+0.09%)
(As of 04:00 PM ET)
Today's Range
$122.30
$124.36
50-Day Range
$116.84
$124.71
52-Week Range
$104.09
$129.70
Volume
2.73 million shs
Average Volume
1.60 million shs
Market Capitalization
$44.02 billion
P/E Ratio
27.19
Dividend Yield
2.91%
Price Target
$123.17

Paychex MarketRank™ Stock Analysis

Analyst Rating
Reduce
1.80 Rating Score
Upside/​Downside
0.4% Downside
$123.17 Price Target
Short Interest
Bearish
3.36% of Float Sold Short
Dividend Strength
Strong
Based on Four Factors
Sustainability
-0.14
Upright™ Environmental Score
News Sentiment
1.22mentions of Paychex in the last 14 days
Based on 11 Articles This Week
Insider Trading
Selling Shares
$3.79 M Sold Last Quarter
Proj. Earnings Growth
6.36%
From $4.72 to $5.02 Per Share

Overall MarketRank

New Rank-Based ScoringMarketRank is calculated by averaging available category scores (with extra weight given to analysis and valuation), then ranking the company's weighted average against that of other companies.

4.64 out of 5 stars

Business Services Sector

33rd out of 316 stocks

Engineering, Accounting, Research, Management & Related Services Industry

2nd out of 2 stocks

PAYX stock logo

About Paychex Stock (NASDAQ:PAYX)

Paychex, Inc. provides integrated human capital management solutions for human resources (HR), payroll, benefits, 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. The company also provides HR solutions, including payroll, employer compliance, HR and employee benefits administration, risk management outsourcing, and the on-site availability of a professionally trained HR representative; and retirement services administration, including plan implementation, ongoing compliance with government regulations, employee and employer reporting, participant and employer online access, electronic funds transfer, and other administrative services. In addition, it offers cloud-based HR administration software products for employee benefits management and administration, time and attendance, digital communication solutions, recruiting, and onboarding solutions; plan administration outsourcing and state unemployment insurance services; various business services to small to medium-sized businesses comprising payroll funding and outsourcing services, which include payroll processing, invoicing, and tax preparation; and payment processing services, financial fitness programs, and a small-business loan resource center. Further, the company provides insurance services for property and casualty coverage, such as workers' compensation, business-owner policies, cyber security protection, and commercial auto, as well as health and benefits coverage, including health, dental, vision, and life. It markets and sells its services primarily through its direct sales force. The company was founded in 1971 and is headquartered in Rochester, New York.

PAYX Stock Price History

PAYX Stock News Headlines

Critical asset just had biggest fall on record
What many consider America's critical financial asset suffers biggest fall on record. Expert says: "it's very bad for millions, protect yourself now."
Critical asset just had biggest fall on record
What many consider America's critical financial asset suffers biggest fall on record. Expert says: "it's very bad for millions, protect yourself now."
PAYX Mar 2024 80.000 put
PAYX Mar 2024 140.000 put
PAYX Mar 2024 135.000 call
3 Stocks to Watch From a Growing Outsourcing Industry
Paychex: A Dividend Grower Priced At A Discount
Paychex Inc's Dividend Analysis
Paychex Board Approves New $400 Million Stock Buyback
Paychex To Buyback Upto $400 Mln Of Common Stock
Paychex (PAYX) Was Down Due to Recession Worries
See More Headlines
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Company Calendar

Last Earnings
12/21/2023
Ex-Dividend for 2/27 Dividend
2/12/2024
Dividend Payable
2/27/2024
Today
3/04/2024
Next Earnings (Estimated)
4/03/2024
Fiscal Year End
5/31/2024

Industry, Sector and Symbol

Industry
Engineering, accounting, research, management & related services
Sub-Industry
Data Processing & Outsourced Services
Current Symbol
NASDAQ:PAYX
CUSIP
70432610
Employees
16,600
Year Founded
1971

Price Target and Rating

Average Stock Price Target
$123.17
High Stock Price Target
$130.00
Low Stock Price Target
$106.00
Potential Upside/Downside
+0.8%
Consensus Rating
Reduce
Rating Score (0-4)
1.80
Research Coverage
10 Analysts

Profitability

Net Income
$1.56 billion
Pretax Margin
41.67%

Debt

Sales & Book Value

Annual Sales
$5.01 billion
Cash Flow
$5.44 per share
Book Value
$9.69 per share

Miscellaneous

Free Float
318,442,000
Market Cap
$43.98 billion
Optionable
Optionable
Beta
0.94

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Should I Buy Paychex Stock? PAYX Pros and Cons Explained

These insights were generated using artificial intelligence. They are based on proprietary MarketBeat data, news articles, and custom LLM A.I. algorithms. This analysis of Paychex was last updated on Sunday, March 3, 2024 at 1:38 AM.

Pros

Here are some ways that investors could benefit from investing in Paychex, Inc.:

  • Paychex, Inc. provides integrated human capital management solutions for small to medium-sized businesses, offering payroll processing, HR solutions, retirement services administration, and insurance services, which can attract a wide customer base.
  • The company offers cloud-based HR administration software products for employee benefits management, time and attendance, digital communication solutions, recruiting, and onboarding solutions, reflecting a commitment to technological innovation and efficiency.
  • Recent insider activity shows that company executives have been selling shares at higher prices, indicating confidence in the company's future performance and potential for growth.
  • Paychex has a strong market presence and a direct sales force, which can help in expanding its customer reach and maintaining customer relationships.
  • With a focus on regulatory compliance services and risk management outsourcing, Paychex demonstrates a commitment to ensuring legal adherence and minimizing risks for its clients, enhancing its reputation in the industry.

Cons

Investors should be bearish about investing in Paychex, Inc. for these reasons:

  • While the company has a strong market presence, it faces competition in the human capital management solutions sector, which could potentially impact its market share and profitability.
  • Paychex's stock price has been relatively stable, which may not offer significant short-term gains for investors seeking rapid returns on their investments.
  • Recent insider selling activity could raise concerns about the company's future performance or potential challenges ahead, leading to uncertainty among investors.
  • As a provider of various business services to small to medium-sized businesses, Paychex's revenue streams may be susceptible to economic downturns or fluctuations in client demand, affecting its financial performance.
  • Investors should carefully monitor the company's financial reports and market trends to assess any potential risks associated with investing in Paychex, especially in the current economic climate.














PAYX Stock Analysis - Frequently Asked Questions

Should I buy or sell Paychex stock right now?

10 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Paychex in the last year. There are currently 2 sell ratings and 8 hold ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "reduce" PAYX shares.
View PAYX analyst ratings
or view top-rated stocks.

What is Paychex's stock price target for 2024?

10 Wall Street research analysts have issued 1 year target prices for Paychex's stock. Their PAYX share price targets range from $106.00 to $130.00. On average, they anticipate the company's stock price to reach $123.17 in the next year. This suggests that the stock has a possible downside of 0.4%.
View analysts price targets for PAYX
or view top-rated stocks among Wall Street analysts.

How have PAYX shares performed in 2024?

Paychex's stock was trading at $119.11 at the beginning of the year. Since then, PAYX shares have increased by 3.8% and is now trading at $123.62.
View the best growth stocks for 2024 here
.

When is Paychex's next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Wednesday, April 3rd 2024.
View our PAYX earnings forecast
.

How were Paychex's earnings last quarter?

Paychex, Inc. (NASDAQ:PAYX) released its earnings results on Thursday, December, 21st. The business services provider reported $1.08 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.01. The business services provider had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.27 billion. Paychex had a trailing twelve-month return on equity of 46.37% and a net margin of 31.62%. The firm's revenue for the quarter was up 5.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.99 EPS.
Read the conference call transcript
.

How often does Paychex pay dividends? What is the dividend yield for Paychex?

Paychex announced a quarterly dividend on Thursday, January 18th. Stockholders of record on Tuesday, February 13th will be given a dividend of $0.89 per share on Tuesday, February 27th. This represents a $3.56 annualized dividend and a dividend yield of 2.88%. The ex-dividend date of this dividend is Monday, February 12th.
Read our dividend analysis for PAYX
.

Is Paychex a good dividend stock?

Paychex (NASDAQ:PAYX) pays an annual dividend of $3.56 per share and currently has a dividend yield of 2.91%. 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 79.11%. 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 70.92% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for PAYX.

How will Paychex's stock buyback program work?

Paychex declared that its board has initiated a share repurchase plan on Friday, January 19th 2024, which permits the company to buyback $400,000,000.00 in outstanding shares, according to EventVestor. This buyback authorization permits the company to purchase up to 0.9% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's leadership believes its stock is undervalued.

What guidance has Paychex issued on next quarter's earnings?

Paychex updated its FY 2024 earnings guidance on Thursday, December, 21st. The company provided earnings per share (EPS) guidance of 4.700-4.740 for the period, compared to the consensus estimate of 4.700. The company issued revenue guidance of -.

What is Martin Mucci's approval rating as Paychex's CEO?

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.

What other stocks do shareholders of Paychex own?

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).

Who are Paychex's major shareholders?

Paychex's stock is owned by a variety of retail and institutional investors. Top institutional investors include Vanguard Group Inc. (8.45%), Capital International Investors (5.14%), Charles Schwab Investment Management Inc. (1.89%), Northern Trust Corp (1.20%), Legal & General Group Plc (0.88%) and Envestnet Asset Management Inc. (0.75%). 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.
View institutional ownership trends
.

How do I buy shares of Paychex?

Shares of PAYX stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

Does Paychex have any subsidiaries?
The following companies are subsidiares of Paychex: Advance Partners, Advantage Payroll Services, DHR Services Holdings LLC, ESG Consulting II LLC, ESG Entities II LLC, ESG PEO LLC, ExpenseWire, Flock, Fortune Industries LLC, Gordian Capital Holdings LLC, HR Outsourcing, Icon Time Systems, InterPay, Lessor Group, Oasis AHR II LLC, Oasis AHR PL LLC, Oasis DHR LLC, Oasis Outsourcing, Oasis Outsourcing Acquisition Corporation, Oasis Outsourcing Contract III Inc., Oasis Outsourcing Holdings Inc., Oasis Outsourcing LLC, Oasis Outsourcing TX LLC, Oasis Outsourcing V LLC, Oasis Payroll Services Inc., Olsen Computer Systems, PXC Inc., Paychex Benefit Technologies, Paychex Holdings LLC, Paychex Insurance Agency Inc., Paychex Investment LLC, Paychex Management LLC, Paychex North America Inc., Paychex of New York LLC, Professional Staff Management Inc., SurePayroll, The Payroll Company, ePlan Services, myStaffingPro by HR Services, and nettime Solutions.
Read More
This page (NASDAQ:PAYX) was last updated on 3/4/2024 by MarketBeat.com Staff

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