In a report released today, Kevin Mcveigh from Credit Suisse maintained a Buy rating on Paychex (PAYX), with a price target of $84. The company’s shares closed yesterday at $79.26, close to its 52-week high of $80.74.
According to TipRanks.com, Mcveigh is a 3-star analyst with an average return of 3.9% and a 60.0% success rate. Mcveigh covers the Services sector, focusing on stocks such as Emerald Expositions Events Inc, Heidrick & Struggles, and Nielsen Holdings.
Currently, the analyst consensus on Paychex is a Moderate Buy with an average price target of $77.
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Paychex’s market cap is currently $28.46B and has a P/E ratio of 29.69. The company has a Price to Book ratio of 11.74.
Based on the recent corporate insider activity of 56 insiders, corporate insider sentiment is negative on the stock. Last month, Martin Mucci, the CEO & President of PAYX sold 50,000 shares for a total of $3,800,000.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Paychex, Inc. engages in the provision of human capital management solutions for payroll, human resource, insurance, and retirement for small and medium sized businesses. Its solutions include payroll services, hiring services, business insurance, time and attendance, employee benefits, financa and payments, human resources services, and startup services.