Paychex PAYX experienced significant insider stock selling with insiders offloading US$8.2m and US$8.9m of shares, possibly indicating a cautious outlook. Despite reporting good earnings, the company witnessed a 6% drop in market value. The average recommendation from brokers is to “Reduce” with a $122.46 average price target from Brokerages suggesting potential undervaluation in the market. The company announced a new employee engagement solution and shareholders seem optimistic about value multiplication over time given its strategic SWOT insight. Generally, PAYX results have been mixed with some quarters beating estimates while others missed on revenues. Despite this, fund managers including Diversified Trust Co, Great Valley Advisor Group, and Capital Investment Advisors LLC have been increasing their stakes in PAYX and institutional ownership stands at 76%. However, the shares have experienced noticeable dips in the price whenever revenue estimates were missed. Notwithstanding, Paychex's impressive dividend growth and consistent high-margin business model make it an attractive investment for investors seeking income and stability.
Paychex PAYX News Analytics from Thu, 21 Dec 2023 08:00:00 GMT to Sun, 18 Aug 2024 11:00:16 GMT -
Rating 2
- Innovation -3
- Information 6
- Rumor -1
