Short Term Price Target on Paychex (PAYX)

Paychex (NASDAQ:PAYX) : 13 Wall Street analysts covering Paychex (NASDAQ:PAYX) believe that the average level the stock could reach for the short term is $49. The maximum price target given is $57 and the minimum target for short term is around $40, hence the standard deviation is calculated at $5.45.

Shares of Paychex, Inc. rose by 5.7% in the last five trading days and 9.25% for the last 4 weeks. Paychex, Inc. is up 10.73% in the last 3-month period. Year-to-Date the stock performance stands at 14.43%. Also, Compass Point initiates coverage on Paychex (NASDAQ:PAYX) . The global brokerage major announces a current price target of $56 per share. Analysts at the Compass Point have a current rating of Sell on the shares. The rating by the firm was issued on April 15, 2016.

Paychex (NASDAQ:PAYX) : Zacks Investment Research ranks Paychex (NASDAQ:PAYX) as 2, which is a Buy recommendation. 2 research analysts consider that the stocks fundamentals point to a bright future, hence they rate the stock as a Strong Buy. Not everyone is convinced about the stocks future, hence, the stock receives 2 Sell recommendation. 4 more believe that the stock has more downside risks, hence they propose a Strong Sell. A total of 10 analysts believe that the stock has a limited upside, hence they advise a Hold. The average broker rating of 18 research analysts is 3.29, which indicates as a Hold.

Paychex (NASDAQ:PAYX): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $56.48 and $56.07 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $59.55. The buying momentum continued till the end and the stock did not give up its gains. It closed at $59.50, notching a gain of 5.99% for the day. The total traded volume was 7,536,334 . The stock had closed at $56.14 on the previous day.

In an insider trading activity, The Securities and Exchange Commission has divulged that Zaucha Laurie L., officer (Vice President) of Paychex Inc, had unloaded 13,500 shares at an average price of $55.5 in a transaction dated on June 20, 2016. The total value of the transaction was worth $749,250.

Paychex, Inc., is a provider of integrated payroll, human Resource, insurance, and benefits outsourcing solutions for small- to medium-sized businesses. The Company focuses on providing payroll and human Resource services; delivering these services; growing its client base, through the efforts of its direct sales force; improving client service, through its leading-edge technology; capitalizing on the growth opportunities within its existing client base and from new clients; investing in business through expansion of its services and product offerings; and supplementing its growth through strategic acquisitions. The Company offers services and products that allow its clients to meet their diverse payroll and human Resource needs. These include: payroll processing; payroll tax administration services; employee payment services; regulatory compliance services; Paychex HR Services; retirement services administration; insurance services; and online HR administration services.

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