Wells Fargo Sticks to Their Sell Rating for Paychex (PAYX)

In a report released today, Jason Kupferberg from Wells Fargo maintained a Sell rating on Paychex, with a price target of $95.00.

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Kupferberg covers the Technology sector, focusing on stocks such as Globant SA, Toast Inc, and Automatic Data Processing. According to TipRanks, Kupferberg has an average return of -8.8% and a 42.30% success rate on recommended stocks.

The word on The Street in general, suggests a Hold analyst consensus rating for Paychex with a $105.75 average price target.

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.