Stifel Nicolaus Reaffirms Their Hold Rating on Paychex

By Ryan Adsit

In a report released today, David Grossman from Stifel Nicolaus maintained a Hold rating on Paychex (NASDAQ: PAYX), with a price target of $69. The company’s shares closed yesterday at $66.89.

According to TipRanks.com, Grossman is a 5-star analyst with an average return of 18.0% and a 69.5% success rate. Grossman covers the Technology sector, focusing on stocks such as Automatic Data Processing, Infosys Limited, and Wageworks Inc.

Paychex has an analyst consensus of Hold, with a price target consensus of $61.50.

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Paychex’s market cap is currently $24.03B and has a P/E ratio of 26.86. The company has a Price to Book ratio of 11.75.

Based on the recent corporate insider activity of 43 insiders, corporate insider sentiment is negative on the stock. Most recently, in March 2018, Michael Gioja, the SVP of PAYX sold 110,000 shares for a total of $6,779,300.

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.