Paychex (PAYX) : Analyst Rating Update

Paychex (PAYX) : 18 analysts are covering Paychex (PAYX) and their average rating on the stock is 3.29, which is read as a Hold. 2 equity analysts believe that the stock has a bright future and the price doesnt capture all of its upside, hence they rate the stock as a Strong Buy. A Zacks Investment Research rank of 3, which recommends a Hold affirms that they expect a large upside in the stock from the current levels. However, 4 analysts consider that the stock has more downward risks ahead, hence, they suggest a Strong Sell on the stock. 2 more analyst has given the stock a Sell recommendation. A total of 10 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.

Paychex (PAYX) : 13 Wall Street analysts covering Paychex (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.

Paychex (NASDAQ:PAYX): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $60.99 and $60.19 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $61.00. The buying momentum continued till the end and the stock did not give up its gains. It closed at $60.84, notching a gain of 1.25% for the day. The total traded volume was 3,998,094 . The stock had closed at $60.09 on the previous day.

Also, Compass Point initiates coverage on Paychex (NASDAQ:PAYX). The shares have now been rated Sell by the stock experts at the ratings house. Compass Point announces the current price target of $56 per share on Paychex . The rating by the firm was issued on April 15, 2016. The company shares have rallied 26.99% from its 1 Year high price. On Jul 5, 2016, the shares registered one year high at $60.30 and the one year low was seen on Aug 24, 2015. The 50-Day Moving Average price is $54.76 and the 200 Day Moving Average price is recorded at $52.21.

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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