Paychex Gets a Hold Rating from Stifel Nicolaus

By Austin Angelo

In a report issued on December 21, David Grossman from Stifel Nicolaus reiterated a Hold rating on Paychex (NASDAQ: PAYX), with a price target of $68. The company’s shares closed yesterday at $68.27, close to its 52-week high of $70.39.

According to TipRanks.com, Grossman is a 5-star analyst with an average return of 20.3% and a 72.3% success rate. Grossman covers the Technology sector, focusing on stocks such as Automatic Data Processing, Bottomline Technologies, and DXC Technology Company.

Currently, the analyst consensus on Paychex is Hold and the average price target is $67.57, representing a -1.0% downside.

In a report issued on December 15, Barclays also maintained a Hold rating on the stock with a $68 price target.

The company has a one-year high of $70.39 and a one-year low of $54.20. Currently, Paychex has an average volume of 2.11M.

Based on the recent corporate insider activity of 50 insiders, corporate insider sentiment is negative on the stock. Most recently, in October 2017, Laurie Zaucha, the VP of PAYX sold 17,354 shares for a total of $1,110,656.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Paychex, Inc. engages in the provision of payroll, human resource, insurance, and benefits outsourcing solutions for small and medium sized businesses. It offers payroll processing, payroll tax administration services, employee payment services, regulatory compliance services, Paychex HR Solutions, retirement services administration, insurance services, and eServices and other human resource services and products. The company was founded by Blase Thomas Golisano in 1971 and is headquartered in Rochester, NY.