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Paychex Inc. (PAYX) – Don’t Be So Quick to Call it Dead

1,576 institutions hold shares in Paychex Inc. (PAYX), with 38.69M shares held by insiders accounting for 10.74% while institutional investors hold 80.91% of the company’s shares. The shares outstanding are 360.00M, and float is at 321.93M with Short Float at 2.11%. Institutions hold 72.22% of the Float.

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The top institutional shareholder in the company is Blackrock Inc. with over 31.66 million shares valued at $2.95 billion. The investor’s holdings represent 8.78% of the PAYX Shares outstanding. As of Dec 30, 2020, the second largest holder is Vanguard Group, Inc. (The) with 26.74 million shares valued at $2.49 billion to account for 7.41% of the shares outstanding. The other top investors are Capital International Investors which holds 15.72 million shares representing 4.36% and valued at over $1.47 billion, while State Street Corporation holds 3.69% of the shares totaling 13.3 million with a market value of $1.24 billion.

Paychex Inc. (NASDAQ: PAYX) is 3.07% higher on its value in year-to-date trading and has touched a low of $60.00 and a high of $101.15 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The PAYX stock was last observed hovering at around $94.81 in the last trading session, with the day’s gains setting it 1.23% off its average median price target of $98.00 for the next 12 months. It is also 12.69% off the consensus price target high of $110.00 offered by 22 analysts, but current levels are -12.99% lower than the price target low of $85.00 for the same period.

Currently trading at $96.04, the stock is -1.38% and 2.92% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.18 million and changing 1.30% at the moment leaves the stock 12.92% off its SMA200. PAYX registered 48.16% gain for a year compared to 6-month gain of 20.91%. The firm has a 50-day simple moving average (SMA 50) of $94.49 and a 200-day simple moving average (SMA200) of $89.64.

The stock witnessed a 1.58% loss in the last 1 month and extending the period to 3 months gives it a 5.36%, and is -2.02% down 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 2.12% over the week and 2.00% over the month.

Paychex Inc. (PAYX) has around 15600 employees, a market worth around $34.38B and $3.97B in sales. Current P/E ratio is 32.76 and Fwd P/E is 30.51. Profit margin for the company is 26.70%. Distance from 52-week low is 60.06% and -5.05% from its 52-week high. The company has generated returns on investments over the last 12 months (31.30%).

Paychex Inc. (PAYX) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Paychex Inc. (PAYX) is a “Hold”. 22 analysts offering their recommendations for the stock have an average rating of 2.90, where 14 rate it as a Hold and 0 think it is a “Overweight”. 4 of the analysts rate the stock as a “Buy”. 3 analysts have rated the stock as a Sell or Underperform.

Paychex Inc. is expected to release its quarterly report on 06/30/2021 and quarterly earnings per share for the current quarter are estimated at $0.67 with sales reaching $980.48M over the same period.The EPS is expected to grow by 6.20% this year, but quarterly earnings will post -0.90% year-over-year. Quarterly sales are estimated to grow 7.10% in year-over-year returns.

Paychex Inc. (PAYX) Insider Activity

A total of 43 insider transactions have happened at Paychex Inc. (PAYX) in the last six months, with sales accounting for 24 and purchases happening 19 times. The most recent transaction is an insider sale by MUCCI MARTIN, the company’s CEO & President. SEC filings show that MUCCI MARTIN sold 50,000 shares of the company’s common stock on Feb 26 at a price of $91.09 per share for a total of $4.55 million. Following the sale, the insider now owns 0.42 million shares.

Paychex Inc. disclosed in a document filed with the SEC on Feb 02 that Gibson John B (Sr. VP, Service) sold a total of 82,488 shares of the company’s common stock. The trade occurred on Feb 02 and was made at $89.79 per share for $7.41 million. Following the transaction, the insider now directly holds 45165.0 shares of the PAYX stock.

Still, SEC filings show that on Dec 28, Schrader Robert L. (VP/Controller) disposed off 3,559 shares at an average price of $94.93 for $0.34 million. The insider now directly holds 8,871 shares of Paychex Inc. (PAYX).

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

The company’s main competitors (and peers) include Intuit Inc. (INTU) that is trading 71.55% up over the past 12 months and Automatic Data Processing Inc. (ADP) that is 37.41% higher over the same period. Equifax Inc. (EFX) is 58.07% up on the 1-year trading charts. Short interest in the company’s stock has fallen -1.04% from the last report on Mar 14, 2021 to stand at a total of 6.78 million short shares sold with a short interest ratio of 3.44.

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