Paychex Inc [NASDAQ: PAYX] loss -9.40% or 2079847.75 points to close at $2080000.0 with a heavy trading volume of 9263019 shares.
It opened the trading session at $145.375, the shares rose to $146.0 and dropped to $136.8801, the range by which the price of stock traded the whole day. The daily chart for PAYX points out that the company has recorded 0.09% gains over the past six months.
If we look at the average trading volume of 2.08M shares, PAYX reached to a volume of 9263019 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about 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 $150.00 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 3.21. 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 Price to Book ratio for the last quarter was 12.07, with the Price to Cash per share for the same quarter was set at 4.58. Price to Free Cash Flow for PAYX in the course of the last twelve months was 31.15 with Quick ratio for the last quarter at 1.39.
Trading performance analysis for PAYX stock
Paychex Inc [PAYX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -9.56. With this latest performance, PAYX shares dropped by -11.63% in over the last four-week period, additionally plugging by 0.09% over the last 6 months – not to mention a drop of -1.63% in the past year of trading.
Paychex Inc [PAYX]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and Paychex Inc [PAYX] shares currently have an operating margin of 41.83% and a Gross Margin at 72.03%. Paychex Inc’s Net Margin is presently recorded at 31.99%.
Return on Equity for this stock inclined to 14.35%, with Return on Assets sitting at 14.35%.
An analysis of Institutional ownership at Paychex Inc [PAYX]
There are presently around $81.63%, or 91.34% of PAYX stock, in the hands of institutional investors. The top three institutional holders of PAYX stocks are: VANGUARD GROUP INC with ownership of 31.05 million shares, which is approximately 8.6184%. BLACKROCK INC., holding 27.98 million shares of the stock with an approximate value of $$3.32 billion in PAYX stocks shares; and BLACKROCK INC., currently with $$2.91 billion in PAYX stock with ownership which is approximately 6.8058%.
