Paychex Inc. (NASDAQ:PAYX) saw a downside of -1.30% to $112.86 after subtracting -$1.49 on Tuesday. The 5-day average trading volume is 1,568,023 shares of the company’s common stock. It has gained $116.95 in the past week and touched a new high 1 time within the past 5 days. An average of 1,510,836 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 1,576,262.
PAYX’s 1-month performance is -7.39% or -$8.94 on its low of $112.59 reached on 09/26/23. The company’s shares have touched a 52-week low of $104.09 and high of $129.70, with the stock’s rally to the 52-week high happening on 07/27/23. YTD, PAYX has lost -2.34% or -$2.63 and has reached a new high 16 times. However, the current price is down -12.98% from the 52-week high price.
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Insider Transactions
PAYX stock investors last saw insider trading activity on Aug 01.Gioja Michael E (Sr. Vice President) most recently sold 45,810 shares at $124.96 per share on Aug 01. This transaction cost the insider $5,724,626. Sr. Vice President, CFO, RIVERA EFRAIN, sold 20,249 shares at a price of $120.19 on Jul 17. Then, on Jul 14, Chairman MUCCI MARTIN sold 132,851 shares at a price of $120.43 per share. This transaction amounted to $15,999,246.
Valuation Metrics
PAYX stock has a beta of 0.99. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 8.14 while the price-to-book (PB) in the most recent quarter is 11.65, with the price to cash flow ratio at 26.18.
Paychex Inc.’s quick ratio for the period ended May 31 was 1.30, with the current ratio over the same period at 1.30. As well, the company’s long term debt to equity for the quarter ending May 31 was 0.24, while the total debt to equity was 0.25. In terms of profitability, the gross margin trailing 12 months is 70.98%. The trailing 12-month EBITDA margin is 44.13% while for the period ending May 31, Paychex Inc.’s operating margin was 40.60%. The firm’s gross profit as reported stood at $3.55 billion against revenue of $5.01 billion.
Earnings Surprise
For the quarterly period ending May 31 this year, Net income and sales went down compared to those figures reported in the previous quarter. Net income grew 15.41% to $350.4 million, while revenue of $467.4 million was -33.39% off the previous quarter. Analysts expected PAYX to announce $0.97 per share in earnings in its latest quarter, but it posted $0.97, representing a 0.00% surprise. EBITDA for the quarter stood at more than $555.8 million. PAYX stock balance sheet for the quarter ending May 31 shows that total liabilities totaled 7.05 billion, with total debt at $886.0 million. Shareholders hold equity totaling $360.55 million.
Let’s look briefly at Paychex Inc. (PAYX) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 25 September was 23.69% to suggest the stock is trending oversold, with historical volatility in this time period at 16.65%.
The stock’s 5-day moving average is $113.84, reflecting a -2.77% or -$3.22 change from its current price. PAYX is currently trading -7.59% above its 20-day SMA, +4.89% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -6.69% and SMA200 by-6.24%.
Stochastic %K and %D was 7.65% and 5.78% and the average true range (ATR) pointed at 1.57. The RSI (14) points at 27.70%, while the 14-day stochastic is at 4.00% with the period’s ATR at 1.60. The stock’s 9-day MACD Oscillator is pointing at -1.76 and -3.46 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Paychex Inc. (NASDAQ: PAYX), RBC Capital Mkts launched coverage with a Sector perform rating. Analysts offering their rating for PAYX stock have a consensus rating for the stock as Hold. Currently, 3 brokerage advisors rate PAYX as a “sell,”, while 14 advise that investors “Hold.” 1 analysts have rated the stock as underweight. 0 rates the stock as overweight while 2 have offered a “buy” rating.
What is PAYX’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $103.00 and a high of $134.00, with their median price target at $122.00. Looking at these predictions, the average price target given by analysts is for Paychex Inc. (PAYX) stock is $120.67.
