Morgan Stanley (NYSE:MS) analyst Steven Wald maintained a Hold rating on Paychex (NASDAQ:PAYX) on Wednesday, setting a price target of $76, which is approximately 4.32% below the present share price of $79.43.
Wald expects Paychex to post earnings per share (EPS) of $0.62 for the fourth quarter of 2020.
The current consensus among 9 TipRanks analysts is for a Hold rating of shares in Paychex, with an average price target of $78.11.
The analysts price targets range from a high of $90 to a low of $64.
In its latest earnings report, released on 05/31/2020, the company reported a quarterly revenue of $915.1 million and a net profit of $299.6 million. The company's market cap is $28.59 billion.
According to TipRanks.com, Morgan Stanley analyst Steven Wald is currently ranked with 2 stars on a 0-5 stars ranking scale, with an average return of 5.2% and a 50.00% success rate.
Paychex, Inc. engages in the provision of human capital management solutions for payroll, human resource, insurance, and retirement for small and medium sized businesses. Its solutions include payroll services, hiring services, business insurance, time and attendance, employee benefits, finance and payments, human resources services, and startup services. The company was founded by Blase Thomas Golisano in 1971 and is headquartered in Rochester, NY.