Analyst Price Target Update on Paychex (NASDAQ:PAYX)

Paychex (NASDAQ:PAYX) shares are expected to touch $48.5 in the short term. This short term price target has been shared by 14 analysts. However, the standard deviation of short term price estimate has been valued at 5.35. The target price could hit $57 on the higher end and $40 on the lower end.

Many analysts have stated their opinion on the company shares. Compass Point initiates coverage on Paychex (NASDAQ:PAYX). The current rating of the shares is Sell, according to the research report released by the firm. The brokerage firm announces the price target at $56 per share. The rating by the firm was issued on April 15, 2016. Company shares have received an average consensus rating of Hold for the current week

On the companys insider trading activities, The director, of Paychex Inc, Joseph Pamela A had unloaded 6,000 shares at $52.49 per share in a transaction on May 12, 2016. The total value of transaction was $314,940. The Insider information was revealed by the Securities and Exchange Commission in a Form 4 filing.

Paychex (NASDAQ:PAYX) stock ended Monday session in the red zone in a volatile trading. The stock closed down 0.33 points or 0.6% at $54.23 with 1,774,869 shares getting traded. Post opening the session at $54.3, the shares hit an intraday low of $54.17 and an intraday high of $54.63 and the price was in this range throughout the day. The company has a market cap of $19,529 million and the number of outstanding shares have been calculated to be 360,121,050 shares. The 52-week high of Paychex (NASDAQ:PAYX) is $55.435 and the 52-week low is $41.59.

Paychex, Inc., is a provider of integrated payroll, human Resource, insurance, and benefits outsourcing solutions for small- to medium-sized businesses. The Company focuses on providing payroll and human Resource services; delivering these services; growing its client base, through the efforts of its direct sales force; improving client service, through its leading-edge technology; capitalizing on the growth opportunities within its existing client base and from new clients; investing in business through expansion of its services and product offerings; and supplementing its growth through strategic acquisitions. The Company offers services and products that allow its clients to meet their diverse payroll and human Resource needs. These include: payroll processing; payroll tax administration services; employee payment services; regulatory compliance services; Paychex HR Services; retirement services administration; insurance services; and online HR administration services.

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