Paychex - PAYX Stock Forecast, Price & News

11 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Paychex in the last twelve months. There are currently 2 sell ratings, 6 hold ratings and 3 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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11 brokerages have issued twelve-month price targets for Paychex's shares. Their PAYX share price forecasts range from $110.00 to $138.00. On average, they expect the company's stock price to reach $124.08 in the next year. This suggests a possible upside of 9.8% from the stock's current price.
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Paychex's stock was trading at $115.56 on January 1st, 2023. Since then, PAYX shares have decreased by 2.2% and is now trading at $113.03.
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The company is scheduled to release its next quarterly earnings announcement on Wednesday, March 29th 2023.
View our PAYX earnings forecast.

Paychex, Inc. (NASDAQ:PAYX) posted its quarterly earnings results on Thursday, December, 22nd. The business services provider reported $0.99 EPS for the quarter, beating analysts' consensus estimates of $0.95 by $0.04. The business services provider had revenue of $1.17 billion for the quarter, compared to analysts' expectations of $1.18 billion. Paychex had a net margin of 30.45% and a trailing twelve-month return on equity of 45.50%. The firm's revenue was up 5.4% compared to the same quarter last year. During the same period last year, the business earned $0.91 EPS.
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Paychex declared a quarterly dividend on Friday, January 20th. Investors of record on Thursday, February 9th will be paid a dividend of $0.79 per share on Thursday, February 23rd. This represents a $3.16 annualized dividend and a dividend yield of 2.80%. The ex-dividend date of this dividend is Wednesday, February 8th.
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 2.75%. The company has been increasing its dividend for 12 consecutive years, indicating the company has a strong committment to maintain and grow its dividend. The dividend payout ratio is 78.02%. 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 69.00% 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 has authorized a share repurchase plan on Thursday, July 8th 2021, which permits the company to buyback $400,000,000.00 in outstanding shares, according to EventVestor. This buyback authorization permits the company to buy up to 1% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's management believes its stock is undervalued.

Paychex updated its FY 2023 earnings guidance on Thursday, December, 22nd. The company provided earnings per share guidance of $4.22-$4.30 for the period, compared to the consensus EPS estimate of $4.18. The company issued revenue guidance of $4.98 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 a variety of retail and institutional investors. Top institutional investors include Troy Asset Management Ltd (0.44%), Confluence Investment Management LLC (0.36%), Hamlin Capital Management LLC (0.19%), Wedge Capital Management L L P NC (0.14%), Ardevora Asset Management LLP (0.11%) and Grandfield & Dodd LLC (0.11%). 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, 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 $113.03.

Paychex (NASDAQ:PAYX) has a market capitalization of $40.74 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 $4.05 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.