Paychex - PAYX Stock Forecast, Price & News

10 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Paychex in the last year. There are currently 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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10 analysts have issued twelve-month target prices for Paychex's shares. Their PAYX share price forecasts range from $123.00 to $140.00. On average, they expect the company's share price to reach $130.45 in the next year. This suggests a possible upside of 16.8% from the stock's current price.
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Paychex's stock was trading at $136.50 on January 1st, 2022. Since then, PAYX shares have decreased by 18.2% and is now trading at $111.69.
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The company is scheduled to release its next quarterly earnings announcement on Wednesday, December 28th 2022.
View our PAYX earnings forecast.

Paychex, Inc. (NASDAQ:PAYX) released its earnings results on Wednesday, September, 28th. The business services provider reported $1.03 earnings per share for the quarter, beating analysts' consensus estimates of $0.97 by $0.06. The business services provider earned $1.21 billion during the quarter, compared to analyst estimates of $1.17 billion. Paychex had a trailing twelve-month return on equity of 44.87% and a net margin of 30.38%. The company's revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.89 earnings per share.
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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 yield of 2.83%. The ex-dividend date 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 2.76%. 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 79.60%. 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 69.91% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for PAYX.

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

Paychex updated its FY 2023 earnings guidance on Monday, October, 3rd. The company provided earnings per share guidance of $4.19-$4.22 for the period, compared to the consensus earnings per share estimate of $4.14. The company issued revenue guidance of $4.93 billion-$4.98 billion, compared to the consensus revenue estimate of $4.97 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 Confluence Investment Management LLC (0.36%), First Financial Bank Trust Division (0.03%), Burns J W & Co. Inc. NY (0.02%), Bath Savings Trust Co (0.01%), First Hawaiian Bank (0.00%) and Capital Investment Advisors LLC (0.00%). 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 $111.69.

Paychex (NASDAQ:PAYX) has a market capitalization of $40.25 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 $3.97 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.