Paychex - PAYX Stock Forecast, Price & News

12 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Paychex in the last twelve months. There are currently 9 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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12 brokerages have issued 12 month target prices for Paychex's stock. Their PAYX share price forecasts range from $118.00 to $142.00. On average, they expect the company's stock price to reach $130.75 in the next year. This suggests a possible upside of 13.7% 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 $136.50 on January 1st, 2022. Since then, PAYX shares have decreased by 15.7% and is now trading at $115.02.
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The company is scheduled to release its next quarterly earnings announcement on Wednesday, September 28th 2022.
View our PAYX earnings forecast.

Paychex will be holding an earnings conference call on Wednesday, September 28th at 9:30 AM Eastern. Interested parties can register for or listen to the call using this link or dial in at 402-220-2697.

Paychex, Inc. (NASDAQ:PAYX) announced its earnings results on Wednesday, June, 29th. The business services provider reported $0.81 EPS for the quarter, beating the consensus estimate of $0.79 by $0.02. The business services provider had revenue of $1.13 billion for the quarter, compared to analysts' expectations of $1.11 billion. Paychex had a trailing twelve-month return on equity of 43.65% and a net margin of 30.20%. The firm's quarterly revenue was up 9.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.72 EPS.
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Paychex declared a quarterly dividend on Thursday, July 14th. Stockholders of record on Thursday, August 11th will be paid a dividend of $0.79 per share on Thursday, August 25th. This represents a $3.16 annualized dividend and a dividend yield of 2.75%. The ex-dividend date of this dividend is Wednesday, August 10th.
Read our dividend analysis for PAYX.

Paychex (NASDAQ:PAYX) pays an annual dividend of $3.16 per share and currently has a dividend yield of 2.69%. The company has been increasing its dividend for 11 consecutive years, indicating the company has a strong committment to maintain and grow its dividend. The dividend payout ratio is 82.29%. 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 71.01% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for PAYX.

Paychex announced that its Board of Directors has initiated a share repurchase plan on Thursday, July 8th 2021, which authorizes the company to repurchase $400,000,000.00 in outstanding shares, according to EventVestor. This repurchase authorization authorizes the company to repurchase up to 1% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's leadership believes its shares are undervalued.

Paychex updated its FY 2023 earnings guidance on Wednesday, July, 27th. The company provided earnings per share guidance of $4.11-$4.15 for the period, compared to the consensus estimate of $4.06. The company issued revenue guidance of $4.93 billion-$4.98 billion, compared to the consensus revenue estimate of $4.88 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 a variety of institutional and retail investors. Top institutional investors include State Street Corp (3.65%), Northern Trust Corp (1.33%), Legal & General Group Plc (0.82%), London Co. of Virginia (0.65%), California Public Employees Retirement System (0.65%) and Price T Rowe Associates Inc. MD (0.51%). 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, Laurie L Zaucha, Mark Anthony Bottini, Martin Mucci, Michael E Gioja, Pamela A Joseph, Robert L Schrader, Robert L Schrader, Stephanie L Schaeffer, Stephanie L Schaeffer and Tom Bonadio.
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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 $115.02.

Paychex (NASDAQ:PAYX) has a market capitalization of $41.44 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 $3.84 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.