UBS Maintains a 'Buy' on Paychex (PAYX); Cautious Near-Term, But Story Remains Solid
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Price: $122.02 -2.7%
Rating Summary:
3 Buy, 14 Hold, 8 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
3 Buy, 14 Hold, 8 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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UBS maintains a 'Buy' on Paychex (NASDAQ: PAYX) price target lowered $1 to $36.
Analyst, John T. Williams, said, "PAYX posted an in-line result that was below our optimistic forecasts but in line with relatively conservative consensus expectations. Though we would have preferred to see more strength, underlying metrics held firm—a positive sign. Given results/commentary, we are trimming EPS estimates: FY12E $1.52 (-$0.03), FY13E $1.65 (-$0.04), FY14E $1.80 (-$0.05)."
Williams suggests that investors don't fret, considering the favorable thesis of the company remains intact, risk/reward appealing and the continued turnaround of the economy that will add jobs. Q4 doesn't seem like an inflection point, and Williams feels that investors need patience, as the story plays out slowly.
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 $31.35 yesterday.
Analyst, John T. Williams, said, "PAYX posted an in-line result that was below our optimistic forecasts but in line with relatively conservative consensus expectations. Though we would have preferred to see more strength, underlying metrics held firm—a positive sign. Given results/commentary, we are trimming EPS estimates: FY12E $1.52 (-$0.03), FY13E $1.65 (-$0.04), FY14E $1.80 (-$0.05)."
Williams suggests that investors don't fret, considering the favorable thesis of the company remains intact, risk/reward appealing and the continued turnaround of the economy that will add jobs. Q4 doesn't seem like an inflection point, and Williams feels that investors need patience, as the story plays out slowly.
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 $31.35 yesterday.
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