V Square Quantitative Management LLC and
Virtu Financial LLC have big
stock positions in Paychex, Inc. However, the market seems to be
overreacting to Paychex's earnings resulting in a debate whether now is the time to buy Paychex. Amidst economic uncertainty, the stock underperforms but
recovery to more than $140 is speculated. Several firms are maintaining a
Hold status ahead of the earnings report. New investments and share purchases have been made by
Sanibel Captiva Trust Company Inc., Icon Wealth Advisors LLC and others. However, other firms such as
Schroder Investment Management Group and Pinebridge Investments L.P. have sold their shares.
Insiders selling stock possibly signals caution. The company's
Q3 Earnings beat estimates, but revenues were missed. Even though the stock's recent performance is in question, its attractive financial prospects cannot be ignored. Amidst the
weak financial performance, Paychex is also praised for being a
consistently high-margin business. Despite pressures affecting its revenue, analyst recommendations encourage
holding the stock, stating it's undervalued by 29%.
Dividend growth is also an attractive factor. Certain bearish signals are present with insiders disposing of the stock, but a new $400M
stock buyback has also been launched.
Paychex PAYX News Analytics from Tue, 29 Aug 2023 07:00:00 GMT to Sat, 15 Jun 2024 16:08:56 GMT -
Rating 3
- Innovation -3
- Information 7
- Rumor -4
