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Stifel Nicolaus Keeps Their Hold Rating on Paychex (PAYX)

Tipranks - Tipranks - Thu Jun 18, 6:38AM CDT

Stifel Nicolaus analyst David Grossman maintained a Hold rating on Paychex today and set a price target of $110.00.

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Grossman covers the Technology sector, focusing on stocks such as Paychex, DXC Technology, and Exlservice Holdings. According to TipRanks, Grossman has an average return of 0.4% and a 45.76% success rate on recommended stocks.

In addition to Stifel Nicolaus, Paychex also received a Hold from BMO Capital’s Daniel Jester in a report issued on June 12. However, on June 15, Citi upgraded Paychex (NASDAQ: PAYX) to a Buy.

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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. Last month, Elizabeth Roaldsen, the SVP of PAYX sold 459.00 shares for a total of $41,310.00.

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