Paychex (NASDAQ:PAYX) Stock, Quote.Headers.trade-ideas

Paychex

Paychex is a leading provider of payroll, human capital management, and insurance solutions servicing small and midsize clients primarily in the United States. The company, established in 1979, services over 745,000 clients and pays over 1 in 12 U.S. private-sector workers. Alongside its traditional payroll services, Paychex offers HCM solutions such as benefits administration and time and attendance software, as well as human resources outsourcing and insurance agency services.

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Paychex Inc

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders will search for circumstances when the market estimation of an option diverges heavily from its normal worth. High amounts of trading activity could push option prices to exaggerated or underestimated levels. 
Here's the list of options activity happening in today's session: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>UAL</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$70.00</td>
<td>$3.2 million</td>
<td>4.2K</td>
<td>10.1K</td>
</tr>
<tr>
<td>FWRD</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>09/20/24</td>
<td>$35.00</td>
<td>$27.9K</td>
<td>11.2K</td>
<td>4.4K</td>
</tr>
<tr>
<td>DAL</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>11/15/24</td>
<td>$47.00</td>
<td>$527.5K</td>
<td>519</td>
<td>2.5K</td>
</tr>
<tr>
<td>ENVX</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>09/13/24</td>
<td>$9.00</td>
<td>$40.1K</td>
<td>3.1K</td>
<td>1.6K</td>
</tr>
<tr>
<td>UBER</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$80.00</td>
<td>$31.9K</td>
<td>2.1K</td>
<td>1.5K</td>
</tr>
<tr>
<td>RKLB</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$9.00</td>
<td>$94.5K</td>
<td>3.2K</td>
<td>1.1K</td>
</tr>
<tr>
<td>NKLA</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>09/20/24</td>
<td>$10.00</td>
<td>$498.0K</td>
<td>5.2K</td>
<td>1.0K</td>
</tr>
<tr>
<td>BA</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>11/15/24</td>
<td>$160.00</td>
<td>$39.4K</td>
<td>647</td>
<td>501</td>
</tr>
<tr>
<td>PAYX</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>10/18/24</td>
<td>$140.00</td>
<td>$83.8K</td>
<td>1.0K</td>
<td>421</td>
</tr>
<tr>
<td>WSC</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>10/18/24</td>
<td>$42.50</td>
<td>$28.2K</td>
<td>449</td>
<td>357</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These itemized elaborations have been created using the accompanying table. 
• Regarding UAL (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UAL#NASDAQ">UAL</a>), we observe a call option trade with bullish sentiment. It expires in 490 day(s) on January 16, 2026. Parties traded 7462 contract(s) at a $70.00 strike. The total cost received by the writing party (or parties) was $3.2 million, with a price of $430.0 per contract. There were 4223 open contracts at this strike prior to today, and today 10112 contract(s) were bought and sold. 
• For FWRD (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FWRD#NASDAQ">FWRD</a>), we notice a call option sweep that happens to be bullish, expiring in 7 day(s) on September 20, 2024. This event was a transfer of 193 contract(s) at a $35.00 strike. This particular call needed to be split into 28 different trades to become filled. The total cost received by the writing party (or parties) was $27.9K, with a price of $145.0 per contract. There were 11280 open contracts at this strike prior to today, and today 4459 contract(s) were bought and sold. 
• Regarding DAL (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAL#NYSE">DAL</a>), we observe a call option trade with bullish sentiment. It expires in 63 day(s) on November 15, 2024. Parties traded 2500 contract(s) at a $47.00 strike. The total cost received by the writing party (or parties) was $527.5K, with a price of $211.0 per contract. There were 519 open contracts at this strike prior to today, and today 2542 contract(s) were bought and sold. 
• For ENVX (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENVX#NASDAQ">ENVX</a>), we notice a call option trade that happens to be bullish, is expiring today. Parties traded 550 contract(s) at a $9.00 strike. The total cost received by the writing party (or parties) was $40.1K, with a price of $73.0 per contract. There were 3105 open contracts at this strike prior to today, and today 1600 contract(s) were bought and sold. 
• Regarding UBER (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>), we observe a call option sweep with bearish sentiment. It expires in 280 day(s) on June 20, 2025. Parties traded 43 contract(s) at a $80.00 strike. This particular call needed to be split into 7 different trades to become filled. The total cost received by the writing party (or parties) was $31.9K, with a price of $742.0 per contract. There were 2164 open contracts at this strike prior to today, and today 1512 contract(s) were bought and sold. 
• For RKLB (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RKLB#NASDAQ">RKLB</a>), we notice a call option sweep that happens to be bullish, expiring in 126 day(s) on January 17, 2025. This event was a transfer of 1050 contract(s) at a $9.00 strike. This particular call needed to be split into 41 different trades to become filled. The total cost received by the writing party (or parties) was $94.5K, with a price of $90.0 per contract. There were 3215 open contracts at this strike prior to today, and today 1154 contract(s) were bought and sold. 
• For NKLA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NKLA#NASDAQ">NKLA</a>), we notice a put option trade that happens to be bearish, expiring in 7 day(s) on September 20, 2024. This event was a transfer of 1000 contract(s) at a $10.00 strike. The total cost received by the writing party (or parties) was $498.0K, with a price of $498.0 per contract. There were 5256 open contracts at this strike prior to today, and today 1000 contract(s) were bought and sold. 
• Regarding BA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>), we observe a call option sweep with bearish sentiment. It expires in 63 day(s) on November 15, 2024. Parties traded 40 contract(s) at a $160.00 strike. This particular call needed to be split into 5 different trades to become filled. The total cost received by the writing party (or parties) was $39.4K, with a price of $985.0 per contract. There were 647 open contracts at this strike prior to today, and today 501 contract(s) were bought and sold. 
• Regarding PAYX (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PAYX#NASDAQ">PAYX</a>), we observe a call option sweep with bullish sentiment. It expires in 35 day(s) on October 18, 2024. Parties traded 300 contract(s) at a $140.00 strike. This particular call needed to be split into 42 different trades to become filled. The total cost received by the writing party (or parties) was $83.8K, with a price of $280.0 per contract. There were 1023 open contracts at this strike prior to today, and today 421 contract(s) were bought and sold. 
• Regarding WSC (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WSC#NASDAQ">WSC</a>), we observe a call option sweep with bullish sentiment. It expires in 35 day(s) on October 18, 2024. Parties traded 332 contract(s) at a $42.50 strike. This particular call needed to be split into 33 different trades to become filled. The total cost received by the writing party (or parties) was $28.2K, with a price of $85.0 per contract. There were 449 open contracts at this strike prior to today, and today 357 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more about unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Options

ENVX

FWRD

NKLA

RKLB

UBER

10 Industrials Stocks With Whale Alerts In Today's Session

Across the recent three months, 7 analysts have shared their insights on Paychex (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PAYX#NASDAQ">PAYX</a>), expressing a variety of opinions spanning from bullish to bearish.
The table below provides a snapshot of their recent ratings, showcasing how sentiments have evolved over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">5</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
The 12-month price targets assessed by analysts reveal further insights, featuring an average target of $123.0, a high estimate of $130.00, and a low estimate of $113.00. Marking an increase of 0.94%, the current average surpasses the previous average price target of $121.86. 
<img src="https://www.benzinga.com/files/images/story/2024/1726153262_0.png" alt="price target chart" />
<h2>Deciphering Analyst Ratings: An In-Depth Analysis</h2>
A clear picture of Paychex's perception among financial experts is painted with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Bryan Bergin</td>
<td>TD Cowen</td>
<td>Raises</td>
<td>Hold</td>
<td>$126.00</td>
<td>$121.00</td>
</tr>
<tr>
<td>Tien-Tsin Huang</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Underweight</td>
<td>$128.00</td>
<td>$120.00</td>
</tr>
<tr>
<td>Ramsey El-Assal</td>
<td>Barclays</td>
<td>Lowers</td>
<td>Equal-Weight</td>
<td>$118.00</td>
<td>$120.00</td>
</tr>
<tr>
<td>James Faucette</td>
<td>Morgan Stanley</td>
<td>Lowers</td>
<td>Equal-Weight</td>
<td>$122.00</td>
<td>$125.00</td>
</tr>
<tr>
<td>Ashish Sabadra</td>
<td>RBC Capital</td>
<td>Maintains</td>
<td>Sector Perform</td>
<td>$130.00</td>
<td>$130.00</td>
</tr>
<tr>
<td>Mark Marcon</td>
<td>Baird</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$124.00</td>
<td>$126.00</td>
</tr>
<tr>
<td>Jason Kupferberg</td>
<td>B of A Securities</td>
<td>Raises</td>
<td>Underperform</td>
<td>$113.00</td>
<td>$111.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts respond to changes in market conditions and company performance, frequently updating their recommendations. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Paychex. This information offers a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Gaining insights, analysts provide qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of Paychex compared to the broader market.</li>
<li>Price Targets: Delving into movements, analysts provide estimates for the future value of Paychex's stock. This analysis reveals shifts in analysts' expectations over time.</li>
</ul>
Capture valuable insights into Paychex's market standing by understanding these analyst evaluations alongside pertinent financial indicators. Stay informed and make strategic decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/PAYX/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Paychex analyst ratings.</a>
<h2>Get to Know Paychex Better</h2>
Paychex is a leading provider of payroll, human capital management, and insurance solutions servicing small and midsize clients primarily in the United States. The company, established in 1979, services over 745,000 clients and pays over 1 in 12 U.S. private-sector workers. Alongside its traditional payroll services, Paychex offers HCM solutions such as benefits administration and time and attendance software, as well as human resources outsourcing and insurance agency services.
<h3>Paychex's Economic Impact: An Analysis</h3>
Market Capitalization Analysis: With a profound presence, the company's market capitalization is above industry averages. This reflects substantial size and strong market recognition.
Revenue Growth: Over the 3 months period, Paychex showcased positive performance, achieving a revenue growth rate of 5.33% as of 31 May, 2024. This reflects a substantial increase in the company's top-line earnings. In comparison to its industry peers, the company stands out with a growth rate higher than the average among peers in the Industrials sector.
Net Margin: Paychex's net margin surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 29.33% net margin, the company effectively manages costs and achieves strong profitability.
Return on Equity (ROE): Paychex's ROE stands out, surpassing industry averages. With an impressive ROE of 10.07%, the company demonstrates effective use of equity capital and strong financial performance.
Return on Assets (ROA): Paychex's ROA surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 3.25% ROA, the company effectively utilizes its assets for optimal returns.
Debt Management: With a below-average debt-to-equity ratio of 0.23, Paychex adopts a prudent financial strategy, indicating a balanced approach to debt management.
<h2>Analyst Ratings: What Are They?</h2>
Ratings come from analysts, or specialists within banking and financial systems that report for specific stocks or defined sectors (typically once per quarter for each stock). Analysts usually derive their information from company conference calls and meetings, financial statements, and conversations with important insiders to reach their decisions.
Analysts may enhance their evaluations by incorporating forecasts for metrics like growth estimates, earnings, and revenue, delivering additional guidance to investors. It is vital to acknowledge that, although experts in stocks and sectors, analysts are human and express their opinions when providing insights.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Deep Dive Into Paychex Stock: Analyst Perspectives (7 Ratings)

TD Cowen analyst Bryan Bergin maintains Paychex (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PAYX#NASDAQ">PAYX</a>) with a Hold and raises the price target from $121 to $126.

Price Target

TD Cowen Maintains Hold on Paychex, Raises Price Target to $126

Whales with a lot of money to spend have taken a noticeably bullish stance on Paychex.
Looking at options history for Paychex (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PAYX#NASDAQ">PAYX</a>) we detected 8 trades.
If we consider the specifics of each trade, it is accurate to state that 50% of the investors opened trades with bullish expectations and 37% with bearish.
From the overall spotted trades, 6 are puts, for a total amount of $254,166 and 2, calls, for a total amount of $79,074.
<h3>What's The Price Target?</h3>
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $110.0 to $130.0 for Paychex over the recent three months. 
<h3>Analyzing Volume &amp; Open Interest</h3>
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Paychex's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Paychex's whale activity within a strike price range from $110.0 to $130.0 in the last 30 days. 
<h3>Paychex Option Volume And Open Interest Over Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1726081259_0.png" alt="Options Call Chart" />
<h3>Noteworthy Options Activity:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>PAYX</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>12/20/24</td>
<td>$1.45</td>
<td>$1.25</td>
<td>$1.45</td>
<td>$110.00</td>
<td>$69.7K</td>
<td>3.1K</td>
<td>19</td>
</tr>
<tr>
<td>PAYX</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>12/20/24</td>
<td>$2.5</td>
<td>$2.35</td>
<td>$2.5</td>
<td>$120.00</td>
<td>$53.0K</td>
<td>6.0K</td>
<td>1.4K</td>
</tr>
<tr>
<td>PAYX</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>09/20/24</td>
<td>$12.6</td>
<td>$12.2</td>
<td>$12.42</td>
<td>$120.00</td>
<td>$52.1K</td>
<td>350</td>
<td>0</td>
</tr>
<tr>
<td>PAYX</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>12/20/24</td>
<td>$2.95</td>
<td>$2.85</td>
<td>$2.85</td>
<td>$120.00</td>
<td>$39.0K</td>
<td>6.0K</td>
<td>815</td>
</tr>
<tr>
<td>PAYX</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>12/20/24</td>
<td>$3.3</td>
<td>$3.1</td>
<td>$3.1</td>
<td>$120.00</td>
<td>$38.7K</td>
<td>6.0K</td>
<td>96</td>
</tr>
</tbody>
</table>

<h3>About Paychex</h3>
Paychex is a leading provider of payroll, human capital management, and insurance solutions servicing small and midsize clients primarily in the United States. The company, established in 1979, services over 745,000 clients and pays over 1 in 12 U.S. private-sector workers. Alongside its traditional payroll services, Paychex offers HCM solutions such as benefits administration and time and attendance software, as well as human resources outsourcing and insurance agency services.
In light of the recent options history for Paychex, it's now appropriate to focus on the company itself. We aim to explore its current performance.
<h3>Current Position of Paychex</h3>
<ul>
<li>Currently trading with a volume of 1,084,409, the PAYX's price is down by -0.92%, now at $132.88. </li>
<li>RSI readings suggest the stock is currently is currently neutral between overbought and oversold.</li>
<li>Anticipated earnings release is in 14 days.</li>
</ul>
<h3>Professional Analyst Ratings for Paychex</h3>
1 market experts have recently issued ratings for this stock, with a consensus target price of $128.0.
<ul>
<li>An analyst from JP Morgan has decided to maintain their Underweight rating on Paychex, which currently sits at a price target of $128. </li>
</ul>
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Paychex with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

Spotlight on Paychex: Analyzing the Surge in Options Activity

On CNBC's &#8220;Mad Money Lightning Round,&#8221; Jim Cramer said he likes Arm Holdings plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>). &#8220;The stock has come down a great deal, and yet, at the same time, I think its business is actually <a href="https://www.benzinga.com/quote/ARM">accelerating,&#8221; he noted.</a>
On Aug. 8, Bernstein upgraded the stock from Underperform to Market Perform and raised its price target from $92 to $100.
When asked about Energy Transfer LP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ET#NYSE">ET</a>), he said, &#8220;I believe its dividend is indeed safe. I've been back and forth and back and forth on this, and I believe that they have the coverage, and it's an inexpensive stock, and I like the pipeline companies very, very much here.&#8221;
On Aug. 9, Energy Transfer announced a secondary public offering of 38,755,996 of its common units.
The &#8220;Mad Money&#8221; host recommended buying Paychex, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PAYX#NASDAQ">PAYX</a>) with a 3% yield. &#8220;I would buy some here, and then wait for some analysts to knock it down, buy even more. The company's an excellent company,&#8221; he added.
On Aug. 20, JPMorgan analyst Tien-Tsin Huang maintained Paychex with an Underweight rating and raised the price target from $120 to $128.
Cramer said he likes defense stocks, and RTX Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RTX#NYSE">RTX</a>) is his favorite.
On July 25, RTX reported second-quarter results and raised its 2024 outlook. RTX&#8217;s adjusted net sales increase 8% year-over-year to $19.791 billion, beating the consensus of $19.28 billion. Adjusted EPS grew 9% to $1.41, above the consensus of $1.30.
Price Action:
<ul>
<li>Arm shares gained 1.8% to settle at $131.20 on Tuesday.</li>
<li>Energy Transfer shares fell 1.2% to close at $15.91.</li>
<li>Paychex shares slipped 0.1% to close at $130.10.</li>
<li>RTX shares gained 0.7% to settle at $119.49 on Tuesday.</li>
</ul>
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</ul>
Photo: Shutterstock

Jim Cramer Says RTX Is His Favorite Defense Stock, Likes This Semiconductor Stock That 'Has Come Down A Great Deal'

Ratings for Paychex (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PAYX#NASDAQ">PAYX</a>) were provided by 6 analysts in the past three months, showcasing a mix of bullish and bearish perspectives.
The following table provides a quick overview of their recent ratings, highlighting the changing sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Providing deeper insights, analysts have established 12-month price targets, indicating an average target of $122.5, along with a high estimate of $130.00 and a low estimate of $113.00. Marking an increase of 0.41%, the current average surpasses the previous average price target of $122.00. 
<img src="https://www.benzinga.com/files/images/story/2024/1724176890_0.png" alt="price target chart" />
<h2>Understanding Analyst Ratings: A Comprehensive Breakdown</h2>
An in-depth analysis of recent analyst actions unveils how financial experts perceive Paychex. The following summary outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Tien-Tsin Huang</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Underweight</td>
<td>$128.00</td>
<td>$120.00</td>
</tr>
<tr>
<td>Ramsey El-Assal</td>
<td>Barclays</td>
<td>Lowers</td>
<td>Equal-Weight</td>
<td>$118.00</td>
<td>$120.00</td>
</tr>
<tr>
<td>James Faucette</td>
<td>Morgan Stanley</td>
<td>Lowers</td>
<td>Equal-Weight</td>
<td>$122.00</td>
<td>$125.00</td>
</tr>
<tr>
<td>Ashish Sabadra</td>
<td>RBC Capital</td>
<td>Maintains</td>
<td>Sector Perform</td>
<td>$130.00</td>
<td>$130.00</td>
</tr>
<tr>
<td>Mark Marcon</td>
<td>Baird</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$124.00</td>
<td>$126.00</td>
</tr>
<tr>
<td>Jason Kupferberg</td>
<td>B of A Securities</td>
<td>Raises</td>
<td>Underperform</td>
<td>$113.00</td>
<td>$111.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts frequently update their recommendations based on evolving market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Paychex. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Delving into assessments, analysts assign qualitative values, from 'Outperform' to 'Underperform'. These ratings communicate expectations for the relative performance of Paychex compared to the broader market.</li>
<li>Price Targets: Analysts gauge the dynamics of price targets, providing estimates for the future value of Paychex's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
For valuable insights into Paychex's market performance, consider these analyst evaluations alongside crucial financial indicators. Stay well-informed and make prudent decisions using our Ratings Table.
<a href="https://www.benzinga.com/quote/PAYX/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Paychex analyst ratings.</a>
<h2>Discovering Paychex: A Closer Look</h2>
Paychex is a leading provider of payroll, human capital management, and insurance solutions servicing small and midsize clients primarily in the United States. The company, established in 1979, services over 745,000 clients and pays over 1 in 12 U.S. private-sector workers. Alongside its traditional payroll services, Paychex offers HCM solutions such as benefits administration and time and attendance software, as well as human resources outsourcing and insurance agency services.
<h3>Paychex's Economic Impact: An Analysis</h3>
Market Capitalization Analysis: The company's market capitalization surpasses industry averages, showcasing a dominant size relative to peers and suggesting a strong market position.
Revenue Growth: Paychex displayed positive results in 3 months. As of 31 May, 2024, the company achieved a solid revenue growth rate of approximately 5.33%. This indicates a notable increase in the company's top-line earnings. As compared to competitors, the company surpassed expectations with a growth rate higher than the average among peers in the Industrials sector.
Net Margin: Paychex's net margin surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 29.33% net margin, the company effectively manages costs and achieves strong profitability.
Return on Equity (ROE): Paychex's ROE surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 10.07% ROE, the company effectively utilizes shareholder equity capital.
Return on Assets (ROA): The company's ROA is a standout performer, exceeding industry averages. With an impressive ROA of 3.25%, the company showcases effective utilization of assets.
Debt Management: Paychex's debt-to-equity ratio is below the industry average. With a ratio of 0.23, the company relies less on debt financing, maintaining a healthier balance between debt and equity, which can be viewed positively by investors.
<h2>Analyst Ratings: Simplified</h2>
Ratings come from analysts, or specialists within banking and financial systems that report for specific stocks or defined sectors (typically once per quarter for each stock). Analysts usually derive their information from company conference calls and meetings, financial statements, and conversations with important insiders to reach their decisions.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Evaluating Paychex: Insights From 6 Financial Analysts

JP Morgan analyst Tien-Tsin Huang maintains Paychex (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PAYX#NASDAQ">PAYX</a>) with a Underweight and raises the price target from $120 to $128.

JP Morgan Maintains Underweight on Paychex, Raises Price Target to $128

The Nasdaq 100 closed lower by more than 200 points during Thursday's session. Investors, meanwhile, focused on some notable insider trades.
When insiders sell shares, it could be a preplanned sale, or could indicate their concern in the company's prospects or that they view the stock as being overpriced. Insider sales should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a selling decision.
Below is a look at a few recent notable insider sales. For more, check out <a href="https://www.benzinga.com/sec/insider-trades/">Benzinga&#8217;s insider transactions</a> platform.
<h3 class="wp-block-heading">NVIDIA</h3>
<ul>
<li>The Trade: NVIDIA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) President and CEO Jen Hsun Huang <a href="https://www.benzinga.com/sec/insider-trades/">sold a total of 240,000 shares</a> at an average price of $120.29. The insider received around $28.9 million from selling those shares.</li>
<li>What's Happening: On July 22, Piper Sandler analyst Harsh Kumar maintained NVIDIA with an Overweight and raised the price target from $120 to $140.</li>
<li>What NVIDIA Does: Nvidia is a leading developer of graphics processing units.</li>
<li>Benzinga Pro's real-time newsfeed alerted to <a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent072624&amp;t=be2bearmibe3na1">latest NVDA news</a></li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent072624&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="671" height="751" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/26051834/Screenshot-2024-07-26-at-2.48.28-PM.png" alt="" class="wp-image-458834" style="width:395px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/26051834/Screenshot-2024-07-26-at-2.48.28-PM.png 671w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/26051834/Screenshot-2024-07-26-at-2.48.28-PM-268x300.png 268w" sizes="(max-width: 671px) 100vw, 671px" /></a></figure>
<h3 class="wp-block-heading">Lockheed Martin</h3>
<ul>
<li>The Trade: Lockheed Martin Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>) Pres. Missiles &amp; Fire Control Timothy S Cahill <a href="https://www.benzinga.com/sec/insider-trades/">sold a total of 3,975 shares</a> at an average price of $515.36. The insider received around $2.05 million from selling those shares.</li>
<li>What's Happening: On July 25, JP Morgan analyst Seth Seifman maintained Lockheed Martin with an Overweight and raised the price target from $518 to $560.</li>
<li>What Lockheed Martin Does: Lockheed Martin is the world&#8217;s largest defense contractor and has dominated the Western market for high-end fighter aircraft since it won the F-35 Joint Strike Fighter program in 2001.</li>
<li>Benzinga Pro's charting tool helped identify the <a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent072624&amp;t=be2bearmibe3na1">trend in LMT stock</a>.</li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent072624&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="683" height="745" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/26051929/Screenshot-2024-07-26-at-2.49.25-PM.png" alt="" class="wp-image-458836" style="width:402px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/26051929/Screenshot-2024-07-26-at-2.49.25-PM.png 683w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/26051929/Screenshot-2024-07-26-at-2.49.25-PM-275x300.png 275w" sizes="(max-width: 683px) 100vw, 683px" /></a></figure>
<h3 class="wp-block-heading">Paychex</h3>
<ul>
<li>The Trade: Paychex, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PAYX#NASDAQ">PAYX</a>) Sr. VP of Sales Mark Anthony Bottini <a href="https://www.benzinga.com/sec/insider-trades/">sold a total of 8,954 shares</a> at an average price of $123.60. The insider received around $1.1 million from selling those shares.</li>
<li>What's Happening: On July 10, Paychex declared a regular quarterly cash dividend of 98 cents per share.</li>
<li>What Paychex Does: Paychex is a leading provider of payroll, human capital management, and insurance solutions servicing small and midsize clients primarily in the United States.</li>
<li>Benzinga Pro's signals feature notified of a potential <a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent072624&amp;t=be2bearmibe3na1">breakout in PAYX shares</a>.</li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent072624&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="660" height="755" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/26052018/Screenshot-2024-07-26-at-2.50.13-PM.png" alt="" class="wp-image-458837" style="width:488px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/26052018/Screenshot-2024-07-26-at-2.50.13-PM.png 660w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/26052018/Screenshot-2024-07-26-at-2.50.13-PM-262x300.png 262w" sizes="(max-width: 660px) 100vw, 660px" /></a></figure>
<h3 class="wp-block-heading">Portland General Electric</h3>
<ul>
<li>The Trade: Portland General Electric Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/POR#NYSE">POR</a>) EVP, COO Benjamin Felton <a href="https://www.benzinga.com/sec/insider-trades/">sold a total of 1,886 shares</a> at an average price of $48.00. The insider received around $90,528 from selling those shares.</li>
<li>What's Happening: On July 22, Keybanc analyst Sophie Karp upgraded Portland Gen Electric from Sector Weight to Overweight.</li>
<li>What Portland General Electric Does: Portland General Electric is a regulated electric utility providing generation, transmission, and distribution services in a service territory that includes about half of all Oregon residents and two thirds of the state&#8217;s business activity.</li>
<li>Benzinga Pro's earnings calendar was used to track POR <a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent072624&amp;t=be2bearmibe3na1">upcoming earnings report</a>.</li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent072624&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="663" height="745" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/26052844/Screenshot-2024-07-26-at-2.58.33-PM.png" alt="" class="wp-image-458860" style="width:458px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/26052844/Screenshot-2024-07-26-at-2.58.33-PM.png 663w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/26052844/Screenshot-2024-07-26-at-2.58.33-PM-267x300.png 267w" sizes="(max-width: 663px) 100vw, 663px" /></a></figure>
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Republic Services, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rsg#NYSE">RSG</a>) reported an impressive second-quarter 2024 results, with earnings and revenues surpassing the Zacks Consensus Estimate.
RSG&#39;s earnings per share (excluding 1 cent from non-recurring items) of $1.6 beat the Zacks Consensus Estimate by 5.2% and increased 14.2% from the year-ago quarter. Revenues of $4 billion beat the consensus mark by a slight margin and gained 8.6% year over year.
The RSG stock has gained 29.7% over the past year, outperforming the 22.9% rally of the industry it belongs to and 22.6% growth of the Zacks S&amp;P 500 Composite.
<div class="chart_embed">
<h3>Republic Services, Inc. Price and EPS Surprise</h3>
<h3><img alt="Republic Services, Inc. Price and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/74/1721919935.png" style="height:263px; width:545px" title="" /></h3>
Republic Services, Inc. price-eps-surprise | Republic Services, Inc. Quote
</div>
<h3>Segmental Revenues</h3>
Revenues from Collection totaled $2.7 billion, up 7% from the year-ago quarter, missing our expectation of $2.8 billion.
Revenues (net) in the Transfer and Landfill segments were $208.2 million and $440.2 million, rising 5.5% and 2.1% on a year-over-year basis, respectively. While the Transfer segment&#39;s revenues surpassed our estimate of $204.9 million, the Landfill segment missed our estimate of $447.3 million.
The Other segment&#39;s revenues of $204.2 million rose 30.6% from the year-ago quarter and outpaced our anticipation of $180.2 million. Environmental solutions&#39; revenues (net) of $472.6 million increased 18.7% year over year and beat our estimate of $433.5 million.
<h3>Operating Results</h3>
Adjusted EBITDA for the quarter was $1.3 billion, which marked 13% growth from the year-ago quarter, surpassing our estimate of $1.2 billion. The adjusted EBITDA margin of 31.1% increased 110 basis points from the year-ago quarter, beating our estimate of 30.2%.
<h3>Balance Sheet &amp; Cash Flow</h3>
Republic Services exited the second quarter of 2024 with cash and cash equivalents of $490.6 million compared with $91.6 million at the end of the preceding quarter. The long-term debt (net of current maturities) was $11.5 billion compared with $11.4 billion at the end of the first quarter of 2024.
RSG generated $1.1 billion in cash from operating activities in the reported quarter. The adjusted free cash flow was $617.1 million. Capital expenditure in the second quarter of 2024 was $403.1 million.
<h3>2024 Outlook</h3>
For 2024, Republic Services expects revenues of $16.08-$16.13 billion. The Zacks Consensus Estimate for the same is pegged at $16.15 billion, which is higher than the company&#39;s guided range. Adjusted EBITDA is anticipated to be $4.90-$4.93 billion.
RSG expects EPS of $6.15-$6.20. The consensus estimate is pegged at $6.05, which is higher than the company&#39;s guidance. The adjusted free cash flow is expected to be $2.15-$2.17 billion.
Currently, Republic Services carries a Zacks Rank #3 (Hold).
<h3>Earnings Snapshot</h3>
ABM Industries Incorporated&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/abm#NYSE">ABM</a>) reported impressive second-quarter fiscal 2024 results.
ABM&#39;s EPS (excluding 18 cents from non-recurring items) was 87 cents, which beat the Zacks Consensus Estimate by 11.5% but decreased 3.3% from the year-ago quarter. Total revenues of $2 billion outpaced the consensus mark by 1% and increased 1.7% on a year-over-year basis.
Paychex, Inc.&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/payx#NASDAQ">PAYX</a>) reported mixed fourth-quarter fiscal 2024 results.
PAYX&#39;s earnings of $1.1 per share beat the Zacks Consensus Estimate by 1.8% and increased 15.5% from the year-ago quarter. Total revenues of $1.3 billion missed the consensus estimate marginally but rose 5.3% from the year-ago quarter.
<a href="https://www.zacks.com/stock/news/2309347/republic-services-rsg-earnings-surpass-estimates-in-q2?cid=CS-BENZ-FT-analyst_blog|earnings_article-2309347">To read this article on Zacks.com click here.</a>

During times of turbulence and uncertainty in the markets, even when markets are at all-time highs, many investors turn to dividend-yielding stocks. These are often companies that have high free cash flows and reward shareholders with a <a href="https://www.benzinga.com/yield-investments">high dividend payout</a>. 
Benzinga readers can review the latest analyst takes on their favorite stocks by visiting our <a href="https://www.benzinga.com/analyst-stock-ratings">Analyst Stock Ratings</a> page. Traders can sort through Benzinga's extensive database of analyst ratings, including <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie">by analyst accuracy</a>.
Below are the ratings of the most accurate analysts for three high-yielding stocks in the industrials sector.
<h3 class="wp-block-heading">Paychex, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PAYX#NASDAQ">PAYX</a>)</h3>
<ul>
<li>Dividend Yield: 3.22%</li>
<li>Morgan Stanley analyst James Faucette maintained an Equal-Weight rating and cut the price target from $125 to $122 on June 27. This analyst has an accuracy rate of 67%.</li>
<li>Baird analyst Mark Marcon maintained a Neutral rating and slashed the price target from $126 to $124 on June 27. This analyst has an accuracy rate of 69%.</li>
<li>Recent News: On July 10, the company's board declared a regular quarterly cash dividend of 98 cents per share.</li>
<li><a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent071624&amp;t=be2bearmibe3na1">Benzinga Pro's real-time newsfeed</a> alerted to latest PAYX's news</li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent071624&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="674" height="735" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/16072408/Screenshot-2024-07-16-at-4.54.02-PM.png" alt="" class="wp-image-438128" style="width:421px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/16072408/Screenshot-2024-07-16-at-4.54.02-PM.png 674w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/16072408/Screenshot-2024-07-16-at-4.54.02-PM-275x300.png 275w" sizes="(max-width: 674px) 100vw, 674px" /></a></figure>
<h3 class="wp-block-heading">Kennametal Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMT#NYSE">KMT</a>)</h3>
<ul>
<li>Dividend Yield: 3.27%</li>
<li>Barclays analyst Julian Mitchell maintained an Equal-Weight rating and cut the price target from $25 to $24 on July 10. This analyst has an accuracy rate of 75%.</li>
<li>Loop Capital analyst Chris Dankert maintained a Hold rating and cut the price target from $24 to $22 on June 21. This analyst has an accuracy rate of 74%.</li>
<li>Recent News: On May 8, Kennametal posted weaker-than-expected quarterly earnings.</li>
<li>Benzinga Pro's charting tool helped identify the <a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent071624&amp;t=be2bearmibe3na1">trend in Kennametal's stock</a>.</li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent071624&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="689" height="753" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/16072442/Screenshot-2024-07-16-at-4.54.37-PM.png" alt="" class="wp-image-438132" style="width:457px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/16072442/Screenshot-2024-07-16-at-4.54.37-PM.png 689w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/16072442/Screenshot-2024-07-16-at-4.54.37-PM-275x300.png 275w" sizes="(max-width: 689px) 100vw, 689px" /></a></figure>
<h3 class="wp-block-heading">Stanley Black &amp; Decker, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SWK#NYSE">SWK</a>)</h3>
<ul>
<li>Dividend Yield: 3.73%</li>
<li>Barclays analyst Julian Mitchell downgraded the stock from Overweight to Equal-Weight and cut the price target from $100 to $86 on June 4. This analyst has an accuracy rate of 75%.</li>
<li>Baird analyst Timothy Wojs maintained a Neutral rating and cut the price target from $82 to $80 on April 19. This analyst has an accuracy rate of 68%.</li>
<li>Recent News: Stanley Black &amp; Decker is expected to broadcast its second quarter earnings webcast on Tuesday, July 30.</li>
<li>Benzinga Pro's signals feature notified of a potential <a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent071624&amp;t=be2bearmibe3na1">breakout in SWK's shares</a>.</li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent071624&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="668" height="701" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/16072517/Screenshot-2024-07-16-at-4.55.13-PM.png" alt="" class="wp-image-438133" style="width:431px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/16072517/Screenshot-2024-07-16-at-4.55.13-PM.png 668w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/16072517/Screenshot-2024-07-16-at-4.55.13-PM-286x300.png 286w" sizes="(max-width: 668px) 100vw, 668px" /></a></figure>
Read More: 
<ul>
<li><a href="https://www.benzinga.com/news/earnings/24/07/39786459/bank-of-america-morgan-stanley-and-other-3-stocks-to-watch-heading-into-tuesday">Bank Of America, Morgan Stanley And Other 3 Stocks To Watch Heading Into Tuesday</a></li>
</ul>
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
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</figure>

Dividends

Wall Street's Most Accurate Analysts Weigh In On 3 Industrials Stocks Delivering High-Dividend Yields

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders will search for circumstances when the market estimation of an option diverges heavily from its normal worth. High amounts of trading activity could push option prices to exaggerated or underestimated levels. 
Below are some instances of options activity happening in the Industrials sector: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>AAL</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>03/21/25</td>
<td>$9.00</td>
<td>$477.0K</td>
<td>7.5K</td>
<td>9.0K</td>
</tr>
<tr>
<td>EOSE</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>12/20/24</td>
<td>$1.50</td>
<td>$78.7K</td>
<td>7.9K</td>
<td>1.0K</td>
</tr>
<tr>
<td>ENVX</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>07/12/24</td>
<td>$17.00</td>
<td>$37.2K</td>
<td>6.9K</td>
<td>940</td>
</tr>
<tr>
<td>FAST</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>07/19/24</td>
<td>$64.62</td>
<td>$57.9K</td>
<td>1.1K</td>
<td>202</td>
</tr>
<tr>
<td>DAL</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>07/12/24</td>
<td>$42.50</td>
<td>$30.6K</td>
<td>0</td>
<td>74</td>
</tr>
<tr>
<td>VRT</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>08/16/24</td>
<td>$95.00</td>
<td>$77.4K</td>
<td>494</td>
<td>53</td>
</tr>
<tr>
<td>SPCE</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$8.00</td>
<td>$26.1K</td>
<td>263</td>
<td>33</td>
</tr>
<tr>
<td>DE</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$300.00</td>
<td>$35.2K</td>
<td>51</td>
<td>27</td>
</tr>
<tr>
<td>ZIM</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$19.00</td>
<td>$77.2K</td>
<td>949</td>
<td>23</td>
</tr>
<tr>
<td>PAYX</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>12/20/24</td>
<td>$125.00</td>
<td>$29.5K</td>
<td>167</td>
<td>11</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These bullet-by-bullet explanations have been constructed using the accompanying table. 
• Regarding AAL (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAL#NASDAQ">AAL</a>), we observe a put option trade with bearish sentiment. It expires in 256 day(s) on March 21, 2025. Parties traded 9000 contract(s) at a $9.00 strike. The total cost received by the writing party (or parties) was $477.0K, with a price of $53.0 per contract. There were 7525 open contracts at this strike prior to today, and today 9000 contract(s) were bought and sold. 
• Regarding EOSE (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EOSE#NASDAQ">EOSE</a>), we observe a call option sweep with bullish sentiment. It expires in 165 day(s) on December 20, 2024. Parties traded 949 contract(s) at a $1.50 strike. This particular call needed to be split into 13 different trades to become filled. The total cost received by the writing party (or parties) was $78.7K, with a price of $83.0 per contract. There were 7918 open contracts at this strike prior to today, and today 1063 contract(s) were bought and sold. 
• For ENVX (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENVX#NASDAQ">ENVX</a>), we notice a call option trade that happens to be neutral, expiring in 4 day(s) on July 12, 2024. This event was a transfer of 1165 contract(s) at a $17.00 strike. The total cost received by the writing party (or parties) was $37.2K, with a price of $32.0 per contract. There were 6918 open contracts at this strike prior to today, and today 940 contract(s) were bought and sold. 
• Regarding FAST (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FAST#NASDAQ">FAST</a>), we observe a put option sweep with bearish sentiment. It expires in 11 day(s) on July 19, 2024. Parties traded 200 contract(s) at a $64.62 strike. This particular put needed to be split into 10 different trades to become filled. The total cost received by the writing party (or parties) was $57.9K, with a price of $290.0 per contract. There were 1172 open contracts at this strike prior to today, and today 202 contract(s) were bought and sold. 
• For DAL (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAL#NYSE">DAL</a>), we notice a call option trade that happens to be bearish, expiring in 4 day(s) on July 12, 2024. This event was a transfer of 69 contract(s) at a $42.50 strike. The total cost received by the writing party (or parties) was $30.6K, with a price of $444.0 per contract. There were 0 open contracts at this strike prior to today, and today 74 contract(s) were bought and sold. 
• Regarding VRT (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VRT#NYSE">VRT</a>), we observe a call option sweep with bearish sentiment. It expires in 39 day(s) on August 16, 2024. Parties traded 98 contract(s) at a $95.00 strike. This particular call needed to be split into 4 different trades to become filled. The total cost received by the writing party (or parties) was $77.4K, with a price of $790.0 per contract. There were 494 open contracts at this strike prior to today, and today 53 contract(s) were bought and sold. 
• For SPCE (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPCE#NYSE">SPCE</a>), we notice a call option trade that happens to be bearish, expiring in 102 day(s) on October 18, 2024. This event was a transfer of 121 contract(s) at a $8.00 strike. The total cost received by the writing party (or parties) was $26.1K, with a price of $216.0 per contract. There were 263 open contracts at this strike prior to today, and today 33 contract(s) were bought and sold. 
• Regarding DE (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DE#NYSE">DE</a>), we observe a call option trade with bearish sentiment. It expires in 193 day(s) on January 17, 2025. Parties traded 5 contract(s) at a $300.00 strike. The total cost received by the writing party (or parties) was $35.2K, with a price of $7045.0 per contract. There were 51 open contracts at this strike prior to today, and today 27 contract(s) were bought and sold. 
• For ZIM (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZIM#NYSE">ZIM</a>), we notice a call option sweep that happens to be bullish, expiring in 193 day(s) on January 17, 2025. This event was a transfer of 201 contract(s) at a $19.00 strike. This particular call needed to be split into 11 different trades to become filled. The total cost received by the writing party (or parties) was $77.2K, with a price of $385.0 per contract. There were 949 open contracts at this strike prior to today, and today 23 contract(s) were bought and sold. 
• For PAYX (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PAYX#NASDAQ">PAYX</a>), we notice a call option trade that happens to be bearish, expiring in 165 day(s) on December 20, 2024. This event was a transfer of 100 contract(s) at a $125.00 strike. The total cost received by the writing party (or parties) was $29.5K, with a price of $295.0 per contract. There were 167 open contracts at this strike prior to today, and today 11 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more about unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

EOSE

FAST

SPCE

Barclays analyst Ramsey El-Assal maintains Paychex (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PAYX#NASDAQ">PAYX</a>) with a Equal-Weight and lowers the price target from $120 to $118.

Barclays Maintains Equal-Weight on Paychex, Lowers Price Target to $118

Across the recent three months, 9 analysts have shared their insights on Paychex (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PAYX#NASDAQ">PAYX</a>), expressing a variety of opinions spanning from bullish to bearish.
The following table encapsulates their recent ratings, offering a glimpse into the evolving sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">7</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts' evaluations of 12-month price targets offer additional insights, showcasing an average target of $121.78, with a high estimate of $130.00 and a low estimate of $111.00. This upward trend is apparent, with the current average reflecting a 0.06% increase from the previous average price target of $121.71.
<img src="https://www.benzinga.com/files/images/story/2024/1719514862_0.png" alt="price target chart" />
<h2>Exploring Analyst Ratings: An In-Depth Overview</h2>
The perception of Paychex by financial experts is analyzed through recent analyst actions. The following summary presents key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>James Faucette</td>
<td>Morgan Stanley</td>
<td>Lowers</td>
<td>Equal-Weight</td>
<td>$122.00</td>
<td>$125.00</td>
</tr>
<tr>
<td>Ashish Sabadra</td>
<td>RBC Capital</td>
<td>Maintains</td>
<td>Sector Perform</td>
<td>$130.00</td>
<td>$130.00</td>
</tr>
<tr>
<td>Mark Marcon</td>
<td>Baird</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$124.00</td>
<td>$126.00</td>
</tr>
<tr>
<td>Jason Kupferberg</td>
<td>B of A Securities</td>
<td>Raises</td>
<td>Underperform</td>
<td>$113.00</td>
<td>$111.00</td>
</tr>
<tr>
<td>Ashish Sabadra</td>
<td>RBC Capital</td>
<td>Maintains</td>
<td>Sector Perform</td>
<td>$130.00</td>
<td>$130.00</td>
</tr>
<tr>
<td>Jason Kupferberg</td>
<td>B of A Securities</td>
<td>Raises</td>
<td>Underperform</td>
<td>$111.00</td>
<td>$108.00</td>
</tr>
<tr>
<td>Bryan Bergin</td>
<td>TD Cowen</td>
<td>Lowers</td>
<td>Hold</td>
<td>$121.00</td>
<td>$122.00</td>
</tr>
<tr>
<td>Moshe Katri</td>
<td>Wedbush</td>
<td>Maintains</td>
<td>Neutral</td>
<td>$115.00</td>
<td>-</td>
</tr>
<tr>
<td>Ashish Sabadra</td>
<td>RBC Capital</td>
<td>Maintains</td>
<td>Sector Perform</td>
<td>$130.00</td>
<td>-</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their reaction to recent developments related to Paychex. This insight gives a snapshot of analysts' perspectives on the current state of the company.</li>
<li>Rating: Providing a comprehensive analysis, analysts offer qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of Paychex compared to the broader market.</li>
<li>Price Targets: Analysts explore the dynamics of price targets, providing estimates for the future value of Paychex's stock. This examination reveals shifts in analysts' expectations over time.</li>
</ul>
Analyzing these analyst evaluations alongside relevant financial metrics can provide a comprehensive view of Paychex's market position. Stay informed and make data-driven decisions with the assistance of our Ratings Table.
<a href="https://www.benzinga.com/quote/PAYX/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Paychex analyst ratings.</a>
<h2>Unveiling the Story Behind Paychex</h2>
Paychex is a leading provider of payroll, human capital management, and insurance solutions servicing small and midsize clients primarily in the United States. The company, established in 1979, services over 740,000 clients and pays over 1 in 12 U.S. private-sector workers. Alongside its traditional payroll services, Paychex offers HCM solutions such as benefits administration and time and attendance software, as well as human resources outsourcing and insurance agency services.
<h3>Understanding the Numbers: Paychex's Finances</h3>
Market Capitalization Analysis: With an elevated market capitalization, the company stands out above industry averages, showcasing substantial size and market acknowledgment.
Revenue Growth: Paychex's remarkable performance in 3 months is evident. As of 29 February, 2024, the company achieved an impressive revenue growth rate of 4.22%. This signifies a substantial increase in the company's top-line earnings. In comparison to its industry peers, the company stands out with a growth rate higher than the average among peers in the Industrials sector.
Net Margin: Paychex's net margin excels beyond industry benchmarks, reaching 34.64%. This signifies efficient cost management and strong financial health.
Return on Equity (ROE): The company's ROE is a standout performer, exceeding industry averages. With an impressive ROE of 13.71%, the company showcases effective utilization of equity capital.
Return on Assets (ROA): Paychex's ROA stands out, surpassing industry averages. With an impressive ROA of 3.98%, the company demonstrates effective utilization of assets and strong financial performance.
Debt Management: Paychex's debt-to-equity ratio is below industry norms, indicating a sound financial structure with a ratio of 0.23.
<h2>What Are Analyst Ratings?</h2>
Analyst ratings serve as essential indicators of stock performance, provided by experts in banking and financial systems. These specialists diligently analyze company financial statements, participate in conference calls, and engage with insiders to generate quarterly ratings for individual stocks.
Some analysts also offer predictions for helpful metrics such as earnings, revenue, and growth estimates to provide further guidance as to what to do with certain tickers. It is important to keep in mind that while stock and sector analysts are specialists, they are also human and can only forecast their beliefs to traders.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Forecasting The Future: 9 Analyst Projections For Paychex

Morgan Stanley analyst James Faucette maintains Paychex (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PAYX#NASDAQ">PAYX</a>) with a Equal-Weight and lowers the price target from $125 to $122.

Morgan Stanley Maintains Equal-Weight on Paychex, Lowers Price Target to $122

RBC Capital analyst Ashish Sabadra reiterates Paychex (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PAYX#NASDAQ">PAYX</a>) with a Sector Perform and maintains $130 price target.

Reiteration

RBC Capital Reiterates Sector Perform on Paychex, Maintains $130 Price Target

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-ratings/">analyst ratings page</a>.
<ul>
<li>Stifel cut the price target for General Mills, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GIS#NYSE">GIS</a>) from $77 to $70. Stifel analyst Matthew Smith maintained a Buy rating. General Mills shares fell 4.6% to close at $64.17 on Wednesday. <a href="https://www.benzinga.com/quote/GIS/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Canaccord Genuity raised the price target for Hut 8 Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HUT#NASDAQ">HUT</a>) from $14 to $22. Canaccord Genuity analyst Joseph Vafi maintained a Buy rating. Hut 8 shares gained 4.8% to close at $15.32 on Wednesday. <a href="https://www.benzinga.com/quote/HUT/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Oppenheimer boosted Veeco Instruments Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VECO#NASDAQ">VECO</a>) price target from $45 to $55. Oppenheimer analyst Rick Schafer maintained an Outperform rating. Veeco Instruments shares fell 1.1% to close at $45.83 on Wednesday. <a href="https://www.benzinga.com/quote/VECO/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Baird boosted the price target for Palo Alto Networks, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PANW#NASDAQ">PANW</a>) from $340 to $360. Baird analyst Shrenik Kothari maintained an Outperform rating. Palo Alto shares gained 0.8% to close at $325.26 on Wednesday. <a href="https://www.benzinga.com/quote/PANW/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Keybanc raised Micron Technology, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>) price target from $150 to $160. Keybanc analyst John Vinh maintained an Overweight rating. Micron shares gained 0.9% to close at $142.36 on Wednesday. <a href="https://www.benzinga.com/quote/MU/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Keefe, Bruyette &amp; Woods raised The Goldman Sachs Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>) price target from $485 to $520. Keefe, Bruyette &amp; Woods analyst David Konrad maintained an Outperform rating. Goldman Sachs shares fell 0.3% to close at $455.86 on Wednesday. <a href="https://www.benzinga.com/quote/GS/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>JMP Securities raised the price target for Grindr Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GRND#NYSE">GRND</a>) from $14 to $17. JMP Securities analyst Nicholas Jones maintained a Market Outperform rating. Grindr shares gained 15.3% to close at $11.82 on Wednesday. <a href="https://www.benzinga.com/quote/GRND/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Goldman Sachs cut SolarEdge Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SEDG#NASDAQ">SEDG</a>) price target from $49 to $25. Goldman Sachs analyst Brian Lee maintained a Sell rating. SolarEdge shares fell 5.3% to close at $24.99 on Wednesday. <a href="https://www.benzinga.com/quote/SEDG/analyst-ratings">See how other analysts view this stock.</a></li>
<li>B of A Securities lowered TD SYNNEX Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNX#NYSE">SNX</a>) price target from $135 to $132. B of A Securities analyst Ruplu Bhattacharya maintained a Buy rating. TD SYNNEX shares fell 0.7% to close at $116.12 on Wednesday. <a href="https://www.benzinga.com/quote/SNX/analyst-ratings">See how other analysts view this stock.</a></li>
<li>B of A Securities raised Paychex, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PAYX#NASDAQ">PAYX</a>) price target from $111 to $113. B of A Securities analyst Jason Kupferberg maintained an Underperform rating. Paychex shares fell 6.1% to close at $117.39 on Wednesday. <a href="https://www.benzinga.com/quote/PAYX/analyst-ratings">See how other analysts view this stock.</a></li>
</ul>
Check This Out: <a href="https://www.benzinga.com/news/24/06/39500574/over-30m-bet-on-this-energy-stock-check-out-these-3-stocks-insiders-are-buying">Over $30M Bet On This Energy Stock? Check Out These 3 Stocks Insiders Are Buying</a>

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Baird analyst Mark Marcon maintains Paychex (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PAYX#NASDAQ">PAYX</a>) with a Neutral and lowers the price target from $126 to $124.

Baird Maintains Neutral on Paychex, Lowers Price Target to $124

B of A Securities analyst Jason Kupferberg maintains Paychex (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PAYX#NASDAQ">PAYX</a>) with a Underperform and raises the price target from $111 to $113.

B of A Securities Maintains Underperform on Paychex, Raises Price Target to $113

Wall Street experienced a mixed session on Wednesday, as investors adopted a cautious stance following Tuesday&#8217;s gains while awaiting key economic data releases later this week, including the Fed&#8217;s preferred inflation <a href="https://www.benzinga.com/topic/inflation">report due on Friday.</a>
At noon in New York, major U.S. averages traded flat, showing a lack of direction. Notably, 10 out of 11 sectors in the S&amp;P 500 were in the red, with consumer discretionary being the only sector to post gains. Small caps fell by 0.3%, while blue chips edged up by 0.1%.
The semiconductor industry failed to continue its rebound, as the iShares Semiconductor ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NYSE">SOXX</a>) dropped 1%, with Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) down 2%.
Treasury yields rose, particularly at the long end of the curve, with both 10-year and 30-year yields increasing by 5-6 basis points, as traders slightly trimmed bets on a September rate cut. 
The dollar gained further traction against a basket of major currencies, with the U.S. dollar index (DXY) eyeing its highest close since April 30.
Notably, the dollar-yen pair rose past 160, marking the weakest level for the Japanese currency since December 1987, as traders continued to test<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39506069/yen-plummets-to-160-against-dollar-lowest-since-december-1986-is-bank-of-japan-inte"> Bank of Japan&#8217;s policies.</a>
Commodities were softer overall, with gold retracing 0.9% amid higher yields and a stronger greenback, natural gas dropping 2.7%, while oil prices edged up by only 0.2%.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) was 1% lower at $61,150, failing to sustain Tuesday&#8217;s 2.5% rise.
<h3 class="wp-block-heading">Wednesday&#8217;s Performance In US Major Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>39,157.26</td>
<td>0.1%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,469.79</td>
<td>0.0%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>19,702.27</td>
<td>0.0%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,019.85</td>
<td>-0.4%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 1:10 p.m. ET</figcaption></figure>
<a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent062624&amp;t=be2bearmibe3na1">According to Benzinga Pro data:</a>
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;was flat at $544.86.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;was 0.1% higher to $391.47.</li>
<li>The tech-heavy&nbsp;Invesco QQQ Trust&nbsp;(ARCA:&nbsp;<a href="https://www.benzinga.com/quote/qqq" target="_blank" rel="noreferrer noopener"></a><a href="https://www.benzinga.com/quote/qqq" target="_blank" rel="noreferrer noopener"></a>QQQ) was 0.1% higher to $479.66.</li>
<li>Sector-wise, the&nbsp;Consumer Discretionary&nbsp;Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>)&nbsp;outperformed, up by 1.4%, while the&nbsp;Energy Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) lagged, falling 0.9%.</li>
</ul>
<h3 class="wp-block-heading">Wednesday&#8217;s Stock Movers</h3>
<ul>
<li>Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) rose 3.8% eyeing the highest close since March 1. Stifel analyst Stephen Gengaro initiated coverage on Tesla late Tuesday with a Buy rating, setting <a href="https://www.benzinga.com/news/24/06/39505959/why-tesla-stock-is-trading-higher-wednesday-very-well-positioned-to-deliver-robust-multi-year-growth#:~:text=%E2%80%9CWe%20believe%20TSLA%20is%20very,sales%20in%20the%20near%20term.">a price target of $265.</a></li>
<li>Amazon.com Inc. also rallied 3.8% to $220, reaching the $2 trillion market valuation mark. Bank of America raised price target on the retail giant from $210 to $220.</li>
<li>Rivian Automotive Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>) soared 20% after German automaker Volkswagen AG announced a $5 billion investment on a joint venture. </li>
<li>Carnival Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCL#NYSE">CCL</a>) rallied over 3% after several analysts raised their price target on the cruise line. </li>
<li>FedEx Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDX#NYSE">FDX</a>) skyrocketed over 14% on its strongest session in two years, reacting to positive quarterly results.</li>
<li>Other companies reacting to earnings were Progress Software Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PRGS#NASDAQ">PRGS</a>), up over 8%, Paychex Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PAYX#NASDAQ">PAYX</a>), down 5.6% and General Mills Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GIS#NYSE">GIS</a>), down 4.6%. </li>
<li>Large-cap companies slated to report earnings after the close include Micron Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>), Jefferies Financial Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JEF#NYSE">JEF</a>) and Levi Strauss &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LEVI#NYSE">LEVI</a>). </li>
</ul>
Read now: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39502910/elon-musk-could-sell-at-least-100-000-new-lower-cost-models-next-year-tesla-has-ove">Elon Musk Could Sell At Least 100,000 New Lower-Cost Models Next Year: &#8216;Tesla Has Over 50% Share Of The US EV Market&#8217;</a>
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Wall Street Wavers, Nvidia Resumes Losses, Tesla Eyes 4-Month High Close, Amazon Hits $2 Trillion Value: What's Driving Markets Wednesday?

Payroll services company&nbsp;Paychex, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PAYX#NASDAQ">PAYX</a>)&nbsp;reported mixed&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/06/b39500325/paychex-inc-reports-fourth-quarter-and-full-year-2024-results" rel="noreferrer noopener">fiscal fourth quarter results</a>.
The company reported sales growth of 5% year over year to $1.295 billion, in-line with the analyst consensus estimate of $1.296 billion.
Total revenue growth in the fiscal quarter reflected a lower contribution from the company&#8217;s Employee Retention Tax Credit (ERTC) Service than the prior year.
Management Solutions revenue rose 3% year over year to $930.3 million, led by growth in the number of clients served across the human capital management (HCM) solutions suite and higher product penetration, including HR Solutions and Retirement.
Professional Employer Organization (PEO) and Insurance Solutions revenue increased 9%&nbsp;&nbsp;year over year to $326.6 million.
Adjusted EPS of $1.12&nbsp;beat the <a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">analyst consensus estimate of $1.10</a>.
Operating income grew 6% to $481.8 million, and the margin expanded by around 30 basis points year over year to 37.2%.
Adjusted operating income grew 15% to $521.3 million, and the margin expanded by around 330 basis points year over year to 40.2%.
As of May 31, 2024, the company held $1.6 billion in cash and equivalents. For the fiscal year, operating cash flow was $1.9 billion.
Chief Executive Officer John Gibson&nbsp;said, &#8220;Small and mid-size businesses continue to face a challenging operating environment due to complex regulations, a tight labor market and inflationary pressures.&#8221;
Outlook: Paychex expects fiscal 2025 revenue growth of 4.0% to 5.5% versus the <a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">$5.55 billion analyst consensus</a>.
The company sees Management Solutions revenue growth in the 3.0% to 4.0% range. It expects PEO and Insurance Solutions revenue growth of 7.0% to 9.0%.
Paychex expects an adjusted EPS&nbsp;growth of 5% &#8211; 7% versus the $4.97 analyst estimate.
Price Action: PAYX shares are down 4.77% at $119.06 at the last check on Wednesday.

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