Paychex Stock Forecast, Price & News

13 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Paychex in the last year. There are currently 1 sell rating, 9 hold ratings and 3 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "hold" Paychex stock. 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 Wall Street analysts have issued 12 month target prices for Paychex's stock. Their PAYX stock forecasts range from $111.00 to $145.00. On average, they anticipate Paychex's share price to reach $130.77 in the next year. This suggests a possible upside of 12.4% from the stock's current price.
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Paychex's stock was trading at $136.50 at the beginning of the year. Since then, PAYX shares have decreased by 14.8% and is now trading at $116.36.
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Paychex is scheduled to release its next quarterly earnings announcement on Thursday, September 29th 2022.
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Paychex, Inc. (NASDAQ:PAYX) released its earnings results on Wednesday, June, 29th. The business services provider reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.02. The business services provider earned $1.13 billion during the quarter, compared to analyst estimates 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 revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period last year, the firm posted $0.72 earnings per share.
View Paychex's earnings history.

Paychex announced a quarterly dividend on Friday, April 29th. Stockholders of record on Thursday, May 12th will be given a dividend of $0.79 per share on Thursday, May 26th. This represents a $3.16 annualized dividend and a dividend yield of 2.72%. The ex-dividend date is Wednesday, May 11th. This is an increase from Paychex's previous quarterly dividend of $0.66.
View Paychex's dividend history.

Paychex(NASDAQ:PAYX) pays an annual dividend of $3.16 per share and currently has a dividend yield of 2.72%. Paychex 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 of Paychex is 82.29%. Payout ratios above 75% are not desirable because they may not be sustainable. Based on earnings estimates, Paychex will have a dividend payout ratio of 71.01% next year. This indicates that Paychex will be able to sustain or increase its dividend.
View Paychex's dividend history.

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

Paychex updated its FY 2023 earnings guidance on Wednesday, June, 29th. The company provided EPS guidance of $4.11-$4.15 for the period, compared to the consensus earnings per share 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 CEO Martin Mucci on Glassdoor.com. Martin Mucci has an approval rating of 90% among Paychex's employees.

Some companies that are related to Paychex include Visa (V), Mastercard (MA), Automatic Data Processing (ADP), Fiserv (FISV), Fidelity National Information Services (FIS), Global Payments (GPN), Broadridge Financial Solutions (BR), FLEETCOR Technologies (FLT), Jack Henry & Associates (JKHY), Genpact (G), WEX (WEX), Western Union (WU), Euronet Worldwide (EEFT), ExlService (EXLS) and Maximus (MMS).
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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 shareholders include First Financial Bank Trust Division (0.02%), Chemung Canal Trust Co. (0.01%) and Park National Corp OH (0.00%). Company insiders that own Paychex 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.
View institutional ownership trends for Paychex.

PAYX stock was sold by a variety of institutional investors in the last quarter, including Park National Corp OH. Company insiders that have sold Paychex company stock in the last two years include 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, and Stephanie L Schaeffer.
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PAYX stock was acquired by a variety of institutional investors in the last quarter, including First Financial Bank Trust Division, and Chemung Canal Trust Co..
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Shares of PAYX 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 $116.36.

Paychex (NASDAQ:PAYX) has a market capitalization of $42.01 billion and generates $4.61 billion in revenue each year. The business services provider earns $1.10 billion in net income (profit) each year or $3.84 on an earnings per share basis.

Paychex employs 15,000 workers across the globe.

Paychex was founded in 1971.

Paychex's mailing address is 911 PANORAMA TRAIL SOUTH, ROCHESTER NY, 14625. The official website for Paychex 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.