Deutsche Bank Starts Paychex (PAYX) at Hold; Chugging Along At A Positive, But Slow Pace
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Price: $37.41 -1.03%
Rating Summary:
0 Buy, 9 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 22
Rating Summary:
0 Buy, 9 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 22
Trade PAYX Now!
Deutsche Bank initiates coverage on Paychex (NASDAQ: PAYX) with a Hold. PT $28.00.
Deutsche analyst says, "As the leading payroll processor for the small and mid business market, PAYX has an impressive operating model that generates strong free cash flow and pays a robust dividend (almost 5% yield limiting the downside in the shares, in our view). However, we see little upside to current estimates given the economic weakness, anemic new business starts, higher investments and a low interest rate environment."
For more ratings news on Paychex click here and for the rating history of Paychex click here.
Shares of Paychex closed at $26.24 yesterday, with a 52 week range of $25.12-$33.91.
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Deutsche analyst says, "As the leading payroll processor for the small and mid business market, PAYX has an impressive operating model that generates strong free cash flow and pays a robust dividend (almost 5% yield limiting the downside in the shares, in our view). However, we see little upside to current estimates given the economic weakness, anemic new business starts, higher investments and a low interest rate environment."
For more ratings news on Paychex click here and for the rating history of Paychex click here.
Shares of Paychex closed at $26.24 yesterday, with a 52 week range of $25.12-$33.91.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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