UBS Keeps Their Hold Rating on Paychex (PAYX)
In a report released on March 27, Kevin Mcveigh from UBS reiterated a Hold rating on Paychex. The company’s shares closed last Friday at $91.68.
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Mcveigh covers the Industrials sector, focusing on stocks such as Robert Half, Andersen Group, Inc. Class A, and Equifax. According to TipRanks, Mcveigh has an average return of 2.1% and a 51.36% success rate on recommended stocks.
In addition to UBS, Paychex also received a Hold from Morgan Stanley’s James Faucette in a report issued on March 27. However, on March 26, TipRanks – PerPlexity reiterated a Buy rating on Paychex (NASDAQ: PAYX).
Based on Paychex’s latest earnings release for the quarter ending February 28, the company reported a quarterly revenue of $1.81 billion and a net profit of $560.3 million. In comparison, last year the company earned a revenue of $1.51 billion and had a net profit of $519.3 million
Based on the recent corporate insider activity of 72 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of PAYX in relation to earlier this year. Last month, Tom Bonadio, a Director at PAYX bought 1,000.00 shares for a total of $98,490.00.
Read More on PAYX:
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- Paychex Earnings Call Highlights Growth, Integration Push
- Paychex price target lowered to $107 from $123 at Morgan Stanley
- Paychex price target lowered to $95 from $114 at TD Cowen
- Paychex: Improving PEO Trends but Balanced Risk/Reward Keeps Rating at Hold
- Solid Fundamentals but Macro and AI Headwinds Justify Maintaining a Hold on Paychex
