UBS Group Boosts Paychex (NASDAQ:PAYX) Price Target to $155.00

Paychex (NASDAQ:PAYX) had its target price upped by UBS Group from $152.00 to $155.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the business services provider’s stock. UBS Group’s target price indicates a potential upside of 1.91% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the company. Royal Bank of Canada reissued a “sector perform” rating and set a $148.00 target price on shares of Paychex in a report on Friday, December 20th. Barclays boosted their target price on shares of Paychex from $135.00 to $140.00 and gave the company an “equal weight” rating in a research report on Monday, December 23rd. Finally, JPMorgan Chase & Co. upped their price objective on Paychex from $133.00 to $139.00 and gave the stock an “underweight” rating in a research report on Tuesday, November 19th. Two analysts have rated the stock with a sell rating and eleven have issued a hold rating to the stock. Based on data from MarketBeat.com, Paychex currently has an average rating of “Hold” and a consensus price target of $133.23.

Paychex Stock Up 0.1 %

Paychex stock opened at $152.10 on Tuesday. Paychex has a fifty-two week low of $114.72 and a fifty-two week high of $154.98. The firm has a market capitalization of $54.77 billion, a PE ratio of 32.02, a P/E/G ratio of 4.10 and a beta of 1.00. The company’s 50-day moving average is $145.94 and its 200-day moving average is $141.17. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.39 and a quick ratio of 1.39.

Paychex (NASDAQ:PAYX) last released its quarterly earnings data on Thursday, December 19th. The business services provider reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.02. Paychex had a return on equity of 45.28% and a net margin of 32.02%. The company had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same period last year, the firm posted $1.08 earnings per share. The business’s revenue was up 4.7% on a year-over-year basis. Sell-side analysts anticipate that Paychex will post 4.99 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Dogwood Wealth Management LLC lifted its stake in Paychex by 8.7% in the fourth quarter. Dogwood Wealth Management LLC now owns 4,303 shares of the business services provider’s stock valued at $603,000 after purchasing an additional 344 shares during the last quarter. GHE LLC increased its holdings in Paychex by 0.5% in the 4th quarter. GHE LLC now owns 21,365 shares of the business services provider’s stock worth $2,996,000 after acquiring an additional 98 shares during the last quarter. Menard Financial Group LLC bought a new stake in Paychex in the 4th quarter valued at about $120,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Paychex during the fourth quarter valued at about $33,346,000. Finally, Leigh Baldwin & CO. LLC bought a new position in Paychex during the fourth quarter worth about $524,000. Hedge funds and other institutional investors own 83.47% of the company’s stock.

Paychex Company Profile

Paychex, Inc, together with its subsidiaries, provides integrated human capital management solutions (HCM) for payroll, benefits, human resources (HR), and insurance services for small to medium-sized businesses in the United States, Europe, and India. It offers payroll processing services; payroll tax administration services; employee payment services; and regulatory compliance services, such as new-hire reporting and garnishment processing.