Paychex (PAYX), a known player in the business sector, has been performing consistently with recent
Q3 and Q4 Earnings beating estimates and showing improvements year on year. The company witnessed an
increase in revenues, but has been given a consensus rating of 'Reduce' by Brokerages. This could be due to multiple factors such as institutional investors making significant changes in their shares. Despite this, here are reasons for investors to continue holding on to the PAYX stock. Paychex has a
consistent high-margin business model, which might have contributed to its stocks rising by 12% in the last six months. However, their
Q1 saw a missed revenue estimate, causing the stock to drop. The retirement of CFO Efrain Rivera has also been announced. The company announced a larger dividend than last year at $0.98. There has been a
74% institutional ownership of the company and
Fisher Asset Management LLC sold 408 shares. The
Q2 Earnings beat estimates with a solid sectoral performance. Paychex was also named among FORTUNE's Most Innovative Companies and had launched a new $400M Stock Buyback initiative. However, Paychex sees
employment growth for clients slowed more than expected.
Paychex PAYX News Analytics from Wed, 27 Sep 2023 07:00:00 GMT to Sun, 12 May 2024 12:25:19 GMT -
Rating 5
- Innovation 3
- Information 7
- Rumor -3
