Paychex Inc. [NASDAQ: PAYX] price surged by 0.38 percent to reach at $0.46. The company report on April 2, 2024 at 8:30 AM that Paychex, Inc. Reports Third Quarter Results: Sustained Growth in Revenue and Earnings.
Paychex, Inc. (the “Company,” “Paychex,” “we,” “our,” or “us”) today announced the following results for the fiscal quarter ended February 29, 2024 (the “third quarter”), as compared to the corresponding prior-year period:.
The one-year PAYX stock forecast points to a potential downside of -0.73. The average equity rating for PAYX stock is currently 3.07, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on Paychex Inc. [PAYX]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PAYX shares is $121.19 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PAYX stock is a recommendation set at 3.07. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
TD Cowen have made an estimate for Paychex Inc. shares, keeping their opinion on the stock as Market Perform, with their previous recommendation back on December 22, 2023. While these analysts kept the previous recommendation, Barclays raised their target price from $107 to $126. The new note on the price target was released on December 14, 2023, representing the official price target for Paychex Inc. stock. Previously, the target price had yet another raise to $120, while UBS analysts kept a Neutral rating on PAYX stock.
The Average True Range (ATR) for Paychex Inc. is set at 2.21, with the Price to Sales ratio for PAYX stock in the period of the last 12 months amounting to 8.52. The Price to Book ratio for the last quarter was 12.46, with the Price to Cash per share for the same quarter was set at 4.02. Price to Free Cash Flow for PAYX in the course of the last twelve months was 23.60 with Quick ratio for the last quarter at 1.23.
PAYX Stock Performance Analysis:
Paychex Inc. [PAYX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.62. With this latest performance, PAYX shares dropped by -0.12% in over the last four-week period, additionally plugging by 5.85% over the last 6 months – not to mention a rise of 7.52% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PAYX stock in for the last two-week period is set at 51.96, with the RSI for the last a single of trading hit 53.53, and the three-weeks RSI is set at 51.35 for Paychex Inc. [PAYX]. The present Moving Average for the last 50 days of trading for this stock 121.97, while it was recorded at 121.52 for the last single week of trading, and 119.64 for the last 200 days.
Insight into Paychex Inc. Fundamentals:
Paychex Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.23 and a Current Ratio set at 1.23.
PAYX Stock EPS
With the latest financial reports released by the company, Paychex Inc. posted 1.29/share EPS, while the average EPS was predicted by analysts to be reported at 1.24/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 4.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for PAYX. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Paychex Inc. go to 8.51%.
Paychex Inc. [PAYX] Institutonal Ownership Details
The top three institutional holders of PAYX stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in PAYX stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in PAYX stock with ownership which is approximately 5.8386%.
