This is why Paychex Inc. (PAYX) Stock is one of the options for the Longer run

Paychex Inc. [PAYX] stock prices are up 0.38% to $122.08 at the moment. An important factor to consider is whether the stock is rising or falling in short-term value. The PAYX shares have gain 2.62% over the last week, with a monthly amount drifted -0.12%, and not seem to be holding up well over a long-time horizon.

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On 2, April 2024, Paychex, Inc. Reports Third Quarter Results: Sustained Growth in Revenue and Earnings. In a post published today on Yahoo Finance, Paychex, Inc. (the “Company,” “Paychex,” “we,” “our,” or “us”) today announced the following results for the fiscal quarter ended February 29, 2024 (the “third quarter”), as compared to the corresponding prior-year period:.

From an analyst’s perspective:

Paychex Inc. [NASDAQ: PAYX] stock has seen the most recent analyst activity on December 22, 2023, when TD Cowen downgraded its rating to a Market Perform and also revised its price target to $123 from $132. Previously, Barclays upgraded its rating to Equal Weight on December 14, 2023, and elevated its price target to $126. On November 07, 2023, UBS initiated with a Neutral rating and assigned a price target of $120 on the stock. RBC Capital Mkts started tracking the stock assigning a Sector Perform rating and suggested a price target of $130 on September 05, 2023. UBS initiated its recommendation with a Neutral and recommended $115 as its price target on June 02, 2023. BofA Securities downgraded its rating to Underperform for this stock on April 03, 2023, and downed its price target to $105. In a note dated January 17, 2023, Barclays downgraded an Underweight rating on this stock but restated the target price of $110.

The stock price of Paychex Inc. [PAYX] has been fluctuating between $104.09 and $129.70 over the past year. Currently, Wall Street analysts expect the stock to reach $127.07 within the next 12 months. Paychex Inc. [NASDAQ: PAYX] shares were valued at $122.08 at the most recent close of the market. An investor can expect a potential return of 4.09% based on the average PAYX price forecast.

Analyzing the PAYX fundamentals

The Paychex Inc. [NASDAQ:PAYX] reported sales of 5.15B for trailing twelve months, representing a surge of 5.68%. Gross Profit Margin for this corporation currently stands at 0.72% with Operating Profit Margin at 0.41%, Pretax Profit Margin comes in at 0.42%, and Net Profit Margin reading is 0.32%. To continue investigating profitability, this company’s Return on Assets is posted at 0.13, Equity is 0.46 and Total Capital is 0.43. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of0.23.

Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 117.01 points at the first support level, and at 111.93 for the second support level. However, for the 1st resistance point, the stock is sitting at 124.87, and for the 2nd resistance point, it is at 127.65.

Paychex Inc. [PAYX] reported earnings per share of $1.08 for its fiscal quarter that ended on 11/29/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $1.07/share, meaning a difference of $0.01 and a surprise factor of 0.90%. By comparison, the stated earnings for the previous quarter ended on 8/30/2023 were $1.14 per share as compared to estimates of $1.12 per share, a difference of $0.02 representing a surprise of 1.80%.

Ratios To Look Out For

It’s worth pointing out that Paychex Inc. [NASDAQ:PAYX]’s Current Ratio is 1.23. On the other hand, the Quick Ratio is 1.23, and the Cash Ratio is 0.21. Considering the valuation of this stock, the price to sales ratio is 8.52, the price to book ratio is 12.46 and price to earnings (TTM) ratio is 27.15.

Transactions by insiders

Recent insider trading involved FLASCHEN DAVID J S, Director, that happened on Aug 24 ’24 when 45.0 shares were purchased. Sr. Vice President, Gioja Michael E completed a deal on Feb 07 ’24 to sell 40068.0 shares. Meanwhile, Sr. VP of Sales Bottini Mark Anthony sold 15481.0 shares on Jan 29 ’24.

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