Barclays analyst Ramsey El Assal maintained a Hold rating on Paychex (PAYX) on May 29 and set a price target of $73.00. The company’s shares closed last Monday at $96.59, close to its 52-week high of $97.13.
According to TipRanks.com, Assal is a 5-star analyst with an average return of 19.1% and a 70.8% success rate. Assal covers the Technology sector, focusing on stocks such as Automatic Data Processing, BigCommerce Holdings, and Paypal Holdings.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Paychex with a $89.45 average price target, representing a -6.5% downside. In a report issued on July 8, Citigroup also maintained a Hold rating on the stock with a $75.00 price target.
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Based on Paychex’s latest earnings release for the quarter ending August 31, the company reported a quarterly revenue of $932 million and net profit of $212 million. In comparison, last year the company earned revenue of $992 million and had a net profit of $264 million.
Based on the recent corporate insider activity of 63 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PAYX in relation to earlier this year. Last month, Mark Anthony Bottini, the Sr. VP of Sales of PAYX sold 53,911 shares for a total of $4,972,212.
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, finance and payments, human resources services, and startup services. The company was founded by Blase Thomas Golisano in 1971 and is headquartered in Rochester, NY.
