Barclays Reiterates an 'Equalweight' on Paychex (PAYX); Q3 Preview

Barclays reiterates an 'Equalweight' on Paychex (NASDAQ: PAYX) price target of $31.00.

Analyst, Gary E. Bisbee and Barclays, expects Q3 EPS of $0.37 and revenues of $569 million.

Bisbee said, "We expect PAYX's operating margin to contract 45 bps y/y to 37.0%, or down 21 bps y/y to 35.8% excluding client float interest...We expect the company to reiterate its prior guidance for FY'12."

"However, with only modest job growth and likely flat interest rates until well into CY'13, PAYX is unlikely to generate more than moderate EPS and free cash flow growth over the next 12 months."

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 $31.87 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Piper Sandler Reiterates Overweight Rating on Estee Lauder (EL), 'F4Q26 Preview'
• Fiserv (FISV) PT Lowered to $60 at Freedom Broker
• McGraw Hill (MH) PT Raised to $15 at UBS