Why Shares of Paychex Inc. (PAYX) Are Going Crazy

Paychex Inc. (NASDAQ: PAYX) is -9.96% lower on its value in year-to-date trading and has touched a low of $47.87 and a high of $90.54 in the current 52-week trading range. The PAYX stock was last observed hovering at around $76.59 in the recent trading session, with the current gains setting it 1.67% off its average median price target of $70.00 for the next 12 months. It is also 7.93% off the consensus price target high of $85.00 offered by 20 analysts, but current levels are -34.93% lower than the price target low of $58.00 for the same period.

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At last check, trading at $78.26, the stock is 3.94% and 10.14% above its SMA20 and SMA50 respectively. However, with a current trading volume of 0.47 million and changing 2.18% at the moment leaves the stock 0.26% off its SMA200. PAYX registered -9.47% loss for a year compared to 6-month loss of -10.01%. The firm has a 50-day simple moving average (SMA 50) of $73.32 and a 200-day simple moving average (SMA200) of $75.20.

The stock witnessed a 2.41% gain in the last 1 month and extending the period to 3 months gives it a 25.50%, and is 4.85% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 2.59% over the week and 3.06% over the month.

Paychex Inc. (PAYX) has around 15800 employees, a market worth around $27.37B and $4.11B in sales. Current P/E ratio is 24.98 and Fwd P/E is 27.59. Profit margin for the company is 27.00%. Distance from 52-week low is 63.48% and -13.56% from its 52-week high. The company has generated returns on investments over the last 12 months (30.40%).

Paychex Inc. (PAYX) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Paychex Inc. (PAYX) is a “Hold”. 20 analysts offering their recommendations for the stock have an average rating of 2.90, where 16 rate it as a Hold and 0 think it is a “Overweight”. 2 of the analysts rate the stock as a “Buy”. 1 analysts have rated the stock as a Sell or Underperform.

Paychex Inc. is expected to release its quarterly report on 07/07/2020 and quarterly earnings per share for the current quarter are estimated at $0.6 with sales reaching $910.91M over the same period.The EPS is expected to grow by 13.70% this year, but quarterly earnings will post 7.00% year-over-year. Quarterly sales are estimated to shrink -7.10% in year-over-year returns.

Paychex Inc. (PAYX) Top Institutional Holders

1,465 institutions hold shares in Paychex Inc. (PAYX), with 38.6M shares held by insiders accounting for 10.76% while institutional investors hold 79.01% of the company’s shares. The shares outstanding are 358.50M, and float is at 320.12M with Short Float at 3.35%. Institutions hold 70.51% of the Float.

The top institutional shareholder in the company is Blackrock Inc. with over 36.1 million shares valued at $2.27 billion. The investor’s holdings represent 10.06% of the PAYX Shares outstanding. As of Mar 30, 2020, the second largest holder is Vanguard Group, Inc. (The) with 27.9 million shares valued at $1.76 billion to account for 7.78% of the shares outstanding. The other top investors are State Street Corporation which holds 14.17 million shares representing 3.95% and valued at over $891.69 million, while Bank of America Corporation holds 2.76% of the shares totaling 9.9 million with a market value of $623.0 million.

Paychex Inc. (PAYX) Insider Activity

A total of 23 insider transactions have happened at Paychex Inc. (PAYX) in the last six months, with sales accounting for 12 and purchases happening 11 times. The most recent transaction is an insider purchase by BONADIO TOM, the company’s Director. SEC filings show that BONADIO TOM bought 1,650 shares of the company’s common stock on Mar 27 at a price of $60.59 per share for a total of $99974.0. Following the purchase, the insider now owns 15157.0 shares.

Paychex Inc. disclosed in a document filed with the SEC on Feb 20 that TUCCI JOSEPH M (Director) sold a total of 7,686 shares of the company’s common stock. The trade occurred on Feb 20 and was made at $89.49 per share for $0.69 million. Following the transaction, the insider now directly holds 50842.0 shares of the PAYX stock.

Still, SEC filings show that on Jan 22, Zaucha Laurie L. (Vice President) disposed off 19,579 shares at an average price of $89.72 for $1.76 million. The insider now directly holds 42,226 shares of Paychex Inc. (PAYX).

Paychex Inc. (PAYX): Who are the competitors?

The company’s main competitors (and peers) include Intuit Inc. (INTU) that is trading 13.00% up over the past 12 months. Equifax Inc. (EFX) is 24.02% up on the 1-year trading charts. Short interest in the company’s stock has fallen -16.7% from the last report on May 14, 2020 to stand at a total of 12.51 million short shares sold with a short interest ratio of 4.55.

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