Stifel raised the firm’s price target on Paychex (PAYX) to $156 from $141 and keeps a Hold rating on the shares. The company reported “solid results” given the environment, says the analyst, who adds that the Paycor HCM (PYCR) acquisition remains a positive. Paychex is a stable mid-to-high-single-digit EPS compounder in most markets, particularly post-Paycor deal, though this is “fully-priced” at a 73% premium to the equal-weight S&P 500, the analyst tells investors in a post-earnings note.
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Read More on PAYX:
- Balanced Outlook: Paychex’s Mixed Performance and Market Challenges Justify Hold Rating
- Paychex Reports Revenue Growth and Strategic Acquisition
- Hold Rating for Paychex Amid Mixed Outlook and Economic Uncertainties
- Paychex CEO: Small businesses expressing both optimism and uncertainty
- Paychex sees Paycor HCM acquisition to be accretive to adjusted EPS next FY