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A statement released earlier today by Sanford C. Bernstein about Paychex, Inc. (NASDAQ:PAYX) raises the target price to $59.00

Paychex, Inc. (NASDAQ:PAYX) had its stock price target increased to $59.00 by Sanford C. Bernstein in a report issued 01/11/2017. The updated stock price target implies a possible downside of -0.04% based on the company's previous closing price.

Previously on Thursday December 22, 2016, RBC Capital Markets reported on Paychex, Inc. (NASDAQ:PAYX) increased the target price from $53.00 to $54.00. At the time, this indicated a possible downside of -0.12%.

Just yesterday Paychex, Inc. (NASDAQ:PAYX) traded 0.56% higher at $61.15. Paychex, Inc.’s 50-day moving average is $59.97 and its 200-day moving average is $58.70. The last closing price is up 4.17% from the 200-day moving average, compared to the Standard & Poor's 500 Index which has decreased -0.04% over the same time period. 1,424,548 shares of PAYX traded hands, down from an average trading volume of 2,163,170

Recent Performance Chart

Paychex, Inc. (NASDAQ:PAYX)

Paychex, Inc. has 52 week low of $45.76 and a 52 week high of $62.18 with a PE ratio of 28.44 and has a market capitalization of $0.

In addition to Sanford C. Bernstein reporting its stock price target, a total of 14 brokers have issued a research note on the company. The average stock price target is $49.43 with 0 brokers rating the stock a strong buy, 0 brokers rating the stock a buy, 0 brokers rating the stock a hold, 0 brokers rating the stock a underperform, and finally 0 brokers rating the stock a sell.

Brief Synopsis On Paychex, Inc. (NASDAQ:PAYX)

Paychex, Inc. is a provider of integrated human capital management (HCM) solutions for payroll, human resource (HR), retirement and insurance services for small- to medium-sized businesses in the United States. The Company also has operations in Germany. The Company offers services, including Payroll processing, Human Resource Services, and Accounting and Financial Services. As of May 31, 2016, the Company serviced approximately 605,000 payroll clients. It offers a portfolio of HCM services and products that allows its clients to meet their payroll and HR needs. Its payroll-related ancillary services and human resource service (HRS) offerings often leverage the information gathered in the base payroll processing service, allowing it to provide outsourcing services covering the HCM spectrum. The Company, through its HCM software-as-a-service platform, Paychex Flex, provides an integrated product suite that covers the employee life cycle from recruiting and hiring to retirement.

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