Breaking Finance News

Goldman Sachs Group Inc announced Paychex, Inc. (NASDAQ:PAYX), dropping its stock price target to $64.00 today

Yesterday Paychex, Inc. (NASDAQ:PAYX) traded 0.59% higher at $60.01. The company’s 50-day moving average is $56.37 and its 200-day moving average is $58.47. The last stock close price is up -1.05% from the 200-day moving average, compared to the S&P 500 which has increased 0.04% over the same time. 2,076,263 shares of the stock were exchanged, down from an average trading volume of 2,202,820

In a statement issued on 6/20/2017 Goldman Sachs Group Inc bumped down the stock price target of Paychex, Inc. (NASDAQ:PAYX) from $68.00 to $64.00 indicating a possible upside of 0.07%.

See Chart Below

Paychex, Inc. (NASDAQ:PAYX)

Paychex, Inc. has a 52 week low of $52.78 and a 52 week high of $63.03 with a P/E ratio of 25.71 The company’s market cap is currently $0.

In addition to Goldman Sachs Group Inc reporting its stock price target, a total of 14 brokerages have issued a ratings update on the company. The average stock price target is $49.43 with 0 brokerages rating the stock a strong buy, 0 brokerages rating the stock a buy, 0 brokerages rating the stock a hold, 0 brokerages rating the stock a underperform, and finally 0 brokers rating the stock a sell.

General Information About 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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