Paychex - PAYX Stock Forecast, Price & News

10 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Paychex in the last twelve months. 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 Wall Street analysts have issued 1-year price targets for Paychex's stock. Their PAYX share price forecasts range from $123.00 to $140.00. On average, they predict the company's stock price to reach $130.42 in the next twelve months. This suggests a possible upside of 3.5% 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 7.7% and is now trading at $125.98.
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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 quarterly earnings results on Wednesday, September, 28th. The business services provider reported $1.03 earnings per share (EPS) 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 net margin of 30.38% and a trailing twelve-month return on equity of 44.87%. The company's quarterly revenue was up 11.4% on a year-over-year basis. During the same period last year, the company posted $0.89 EPS.
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Paychex announced a quarterly dividend on Thursday, October 13th. Shareholders of record on Wednesday, November 9th will be paid a dividend of $0.79 per share on Wednesday, November 23rd. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date of this dividend is Tuesday, November 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 2.51%. 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 initiated a share repurchase program on Thursday, July 8th 2021, which allows the company to repurchase $400,000,000.00 in shares, according to EventVestor. This repurchase authorization allows the company to purchase up to 1% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board believes its stock is undervalued.

Paychex issued an update on its FY 2023 earnings guidance on Monday, October, 24th. The company provided EPS 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 a number of retail and institutional investors. Top institutional investors include BlackRock Inc. (8.60%), Vanguard Group Inc. (8.40%), State Street Corp (3.68%), Bank of New York Mellon Corp (3.02%), London Co. of Virginia (0.68%) and California Public Employees Retirement System (0.64%). 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, 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 $125.98.

Paychex (NASDAQ:PAYX) has a market capitalization of $45.40 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.