UBS Maintains a 'Buy' on Paychex (PAYX); Near-Term Upside Limited, But Defensive Profile Intact

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UBS maintains a 'Buy' on Paychex (NASDAQ: PAYX) price target of $35.00 (from $36.00).

Analyst, John T. Williams, said, "Following the earnings call and given updated commentary/new FY13 guidance, we remain Buy-rated but are trimming our EPS estimates: FY13 $1.62 (-$0.03), FY14 $1.76 (-$0.04), FY15 $1.92 (-$0.04)."

For an analyst ratings summary and ratings history on Paychex click here. For more ratings news on Paychex click here.

Shares of Paychex closed at $30.98 yesterday, with a 52 week range of $25.12-$32.73.

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