Wells Fargo Reaffirms Their Sell Rating on Paychex (PAYX)
Wells Fargo analyst Jason Kupferberg maintained a Sell rating on Paychex yesterday and set a price target of $116.00. The company’s shares closed yesterday at $92.34.
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According to TipRanks, Kupferberg is an analyst with an average return of -6.0% and a 46.41% success rate. Kupferberg covers the Technology sector, focusing on stocks such as Automatic Data Processing, Accenture, and Epam Systems.
The word on The Street in general, suggests a Hold analyst consensus rating for Paychex with a $118.38 average price target.
Based on Paychex’s latest earnings release for the quarter ending November 30, the company reported a quarterly revenue of $1.56 billion and a net profit of $395.4 million. In comparison, last year the company earned a revenue of $1.32 billion and had a net profit of $413.4 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. Earlier this month, Joseph Doody, a Director at PAYX bought 1,000.00 shares for a total of $98,760.00.
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