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RBC Capital Remains a Hold on Paychex (PAYX)

Tipranks - Tipranks - Fri May 29, 7:08AM CDT

In a report released yesterday, Ashish Sabadra from RBC Capital maintained a Hold rating on Paychex, with a price target of $102.00. The company’s shares closed yesterday at $94.43.

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According to TipRanks, Sabadra is a 3-star analyst with an average return of 1.9% and a 51.31% success rate. Sabadra covers the Financial sector, focusing on stocks such as Moody’s, S&P Global, and Factset Research.

The word on The Street in general, suggests a Hold analyst consensus rating for Paychex with a $101.58 average price target.

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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 70 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PAYX in relation to earlier this year. Earlier this month, Elizabeth Roaldsen, the SVP of PAYX sold 459.00 shares for a total of $41,310.00.

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