1,578 institutions hold shares in Paychex Inc. (PAYX), with 38.72M shares held by insiders accounting for 10.75% while institutional investors hold 81.89% of the company’s shares. The shares outstanding are 360.60M, and float is at 321.90M with Short Float at 2.12%. Institutions hold 73.09% of the Float.
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 8.79% 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 7.42% 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 6.37% 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 $98.85 in the last trading session, with the day’s gains setting it 0.27% off its average median price target of $98.00 for the next 12 months. It is also 9.89% off the consensus price target high of $110.00 offered by 22 analysts, but current levels are -16.61% lower than the price target low of $85.00 for the same period.
Currently trading at $99.12, the stock is 1.64% and 4.08% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.17 million and changing 0.27% at the moment leaves the stock 14.54% off its SMA200. PAYX registered 44.57% gain for a year compared to 6-month gain of 16.57%. 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 -1.69% loss in the last 1 month and extending the period to 3 months gives it a 13.50%, and is 1.65% 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 1.35% over the week and 1.69% over the month.
Paychex Inc. (PAYX) has around 15600 employees, a market worth around $35.38B and $3.94B in sales. Current P/E ratio is 33.99 and Fwd P/E is 30.89. Profit margin for the company is 26.80%. Distance from 52-week low is 65.19% and -2.01% 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 3.00, 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 -0.80% year-over-year. Quarterly sales are estimated to grow 7.10% in year-over-year returns.
Paychex Inc. (PAYX) Insider Activity
A total of 38 insider transactions have happened at Paychex Inc. (PAYX) in the last six months, with sales accounting for 22 and purchases happening 16 times. The most recent transaction is an insider sale by VELLI JOSEPH M, the company’s Director. SEC filings show that VELLI JOSEPH M sold 3,753 shares of the company’s common stock on Apr 15 at a price of $96.93 per share for a total of $0.36 million. Following the sale, the insider now owns 48866.0 shares.
Paychex Inc. disclosed in a document filed with the SEC on Apr 13 that Gioja Michael E (Sr. Vice President) sold a total of 35,293 shares of the company’s common stock. The trade occurred on Apr 13 and was made at $96.16 per share for $3.39 million. Following the transaction, the insider now directly holds 55678.0 shares of the PAYX stock.
Still, SEC filings show that on Apr 12, Gioja Michael E (Sr. Vice President) disposed off 35,294 shares at an average price of $95.53 for $3.37 million. The insider now directly holds 61,487 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 53.08% up over the past 12 months. Equifax Inc. (EFX) is 69.70% up on the 1-year trading charts. Short interest in the company’s stock has risen 6.49% from the last report on Apr 14, 2021 to stand at a total of 6.34 million short shares sold with a short interest ratio of 2.87.