How Sterne Agee CRT Currently Rates Paychex (NASDAQ:PAYX)
Sterne Agee CRT issued Neutral rating on Paychex (NASDAQ:PAYX). The firm have started coverage on shares of PAYX in a comprehensive report announced on Thursday, 17 December.
From a total of 11 analysts covering Paychex (NASDAQ:PAYX) stock, 2 rate it a ”Buy”, 6 a “Sell”, and 12 a ”Hold”. This means that 10% of the ratings are positive. The highest target price is $52 while the lowest target price is $40. The mean of all analyst targets is $47.27 with a -8.71% below today’s ($54.22) stock price. Paychex was the topic of 3 analyst reports since August 14, 2015 according to the firm StockzIntelligence Inc. RBC Capital Markets maintained shares on October 1 with “Underperform” rating. JP Morgan maintained PAYX stock in a recent report from August 14 with “Neutral” rating.
Approximately 250,088 shares of stock traded hands. Paychex, Inc. (NASDAQ:PAYX) has risen 8.27% since May 14, 2015 and is uptrending. It has outperformed by 10.54% the S&P500.
Analysts await Paychex, Inc. (NASDAQ:PAYX) to reports earnings on December, 18. They expect $0.51 EPS, up 8.51% or $0.04 from last year’s $0.47 per share. PAYX’s profit will be $183.23M for 26.58 P/E if the $0.51 EPS becomes reality. After $0.52 actual EPS reported by Paychex, Inc. for the previous quarter, Wall Street now forecasts -1.92% negative EPS growth.
The overall sentiment of institutions has decreased to 1.09 in Q2 2015. Its down 0.04, from 1.13 in 2015Q2. The ratio turned negative, as 55 institutions have sold all the shares of Paychex, Inc. that they owned while 254 funds have taken shares off the table. 51 funds have purchased shares for the first time while 287 added to their positions. These institutions now hold 225.47 million shares or 5.30% less than the 238.09 million shares they owned in 2015Q2.
The Fund Mcdonald Capital Investors Inc Ca currently is holding shares equating to 10.72% of its total portfolio in Paychex, Inc. representing a total of 2.09 million shares. Another fund,Parthenon Llc, is holding a total of 326,094 shares equating to 4.33% of their holdings. Additionally, Rench Wealth Management Inc. has a 88,957 share stake in Paychex, Inc. which represents 3.89% of their total portfolio. The Fund, Dillon & Associates Inc, based out of Michigan, has also built up a stake in the stock, which represents a total of 3.8% of their total portfolio. Finally Brookmont Capital Management, a fund which is based in the state of Texas reported a total holdings of 266,539 shares.
Insider activity is a very important aspect to track on any stock. Going back to March 17, 2015, shareholders of Paychex, Inc. have witnessed 0 insider purchases, and a total of 21 insider sales equating to a net activity of approximately $9.53 million . Zaucha Laurie L. sold 3,093 shares worth approximately $157,743. Schaeffer Stephanie L sold 12,000 shares worth approximately $608,640. Mucci Martin sold 84,591 shares worth approximately $4.22 million. Rivera Efrain sold 7,641 shares worth approximately $365,087. The company insider Vossler Jennifer R. sold 3,300 shares worth $157,674.
Paychex, Inc., is a provider of integrated payroll, human Resource, insurance, and benefits outsourcing solutions for small- to medium-sized businesses. The company has a market cap of $19.48 billion. The Firm focuses on providing payroll and human Resource services; delivering these services; growing its client base, through the efforts of its direct sales force; improving client service, through its leading-edge technology; capitalizing on the growth opportunities within its existing client base and from new clients; investing in business through expansion of its services and product offerings; and supplementing its growth through strategic acquisitions. It has 27.69 P/E ratio. The Firm offers services and products that allow its clients to meet their diverse payroll and human Resource needs.
According to Zacks Investment Research, “Paychex, Inc. is a national provider of payroll, human resource, and employee benefit outsourcing solutions for small-to medium-sized businesses. The company has two reportable business segments: Payroll and Human Resource Services and Professional Employer Organization. Paychex’s Payroll segment is a national payroll processing and payroll tax preparation service provided to small-to medium-sized business. The Professional Employer Organization segment provides human resource products and services.”