Paychex (PAYX) Gets a Hold Rating from Morgan Stanley

Morgan Stanley analyst Steven Wald maintained a Hold rating on Paychex (PAYXResearch Report) today and set a price target of $65.00. The company’s shares closed last Monday at $62.78.

Wald has an average return of 19.8% when recommending Paychex.

According to, Wald is ranked #5029 out of 6169 analysts.

The word on The Street in general, suggests a Hold analyst consensus rating for Paychex with a $71.67 average price target, a 19.1% upside from current levels. In a report issued on March 18, Citigroup also downgraded the stock to Hold.

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Paychex’s market cap is currently $21.53B and has a P/E ratio of 19.90. The company has a Price to Book ratio of 50.36.

Based on the recent corporate insider activity of 66 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, Joseph Tucci, a Director at PAYX sold 7,686 shares for a total of $687,820.

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Paychex, Inc. engages in the provision of human capital management solutions for payroll, human resource, insurance, and retirement for small and medium sized businesses. Its solutions include payroll services, hiring services, business insurance, time and attendance, employee benefits, finance and payments, human resources services, and startup services. The company was founded by Blase Thomas Golisano in 1971 and is headquartered in Rochester, NY.