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PAYX

Paychex

$80.70

-1.21 (-1.48%)

06:15
09/11/19
09/11
06:15
09/11/19
06:15

Paychex initiated with a Market Perform at Cowen

Cowen analyst Bryan Bergin initiated Paychex with a Market Perform rating and a price target of $86. The analyst is positive on the company's position as a top human capital management provider to small-medium businesses and its healthy visibility, free cash flows, and leading margins. Bergin cautions however that the SMB employment market is "already tight", with the lack of upside catalysts keeping him on the sidelines until a better entry point emerges.

  • 02

    Oct

PAYX Paychex
$80.70

-1.21 (-1.48%)

04/30/19
04/30/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Alphabet (GOOG, GOOGL) downgraded to Hold from Buy at Stifel with analyst Scott Devitt saying Alphabet revenue growth in last night's Q1 results dropped below 20% for the first time since Q2 of 2015. 2. Bank of America (BAC) downgraded to Neutral from Overweight at Atlantic Equities. 3. Trade Desk (TTD) downgraded to Market Perform from Outperform at JMP Securities with analyst Ronald Josey saying he believes shares are currently fairly valued given the company's growth and opportunities in mobile and Connected TV. 4. ADP (ADP) downgraded to Market Perform from Outperform at Bernstein while Paychex (PAYX) was downgraded to Underperform from Market Perform. 5. Trex Company (TREX) downgraded to Neutral from Buy at B. Riley FBR with analyst Alex Rygiel citing near-term profit margin pressures. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
06/26/19
BOFA
06/26/19
DOWNGRADE
BOFA
Underperform
Paychex downgraded to Underperform from Neutral at BofA/Merrill
06/26/19
06/26/19
DOWNGRADE
Target $82

Underperform
Paychex downgraded to Underperform on valuation at BofA/Merrill
As previously reported, BofA/Merrill analyst Jason Kupferberg downgraded Paychex to Underperform from Neutral, with an $82 price target, as he sees valuation ahead of fundamentals. The analyst notes that the shares have outperformed significantly year to date and trade at a premium to historical levels. Further, Kupferberg sees the company's Q4 results/2020 guidance as in-line to slightly below consensus expectations. The stock has benefited from investor rotation related to the falling 10-year Treasury yield, he contends, adding that on the basis of underlying fundamentals, shares are "overvalued."
08/15/19
MSCO
08/15/19
DOWNGRADE
Target $74
MSCO
Underweight
Paychex cut to Underweight at Morgan Stanley on SMID business weakening
Morgan Stanley analyst Steven Wald downgraded Paychex (PAYX) to Underweight from Equal Weight and lowered his price target for the shares to $74 from $77 as he assumed lead coverage of the stock and ADP (ADP). Small-to-mid-sized business employment is weakening and Paychex's revenue is 94% correlated to small business employment, explained Wald. Additionally, Paychex shares remain expensive compared to its Payments peers based on his EPS, revenue and margin estimates, the analyst said. Wald maintained an Equal Weight rating on ADP upon assuming coverage, setting a $174 price target on the stock, up from the firm's prior $150 target. At current levels, the market is sufficiently balancing ADP's relatively defensive market position from serving a wider array of clients than Paychex against the cyclical risks to growth if employment conditions broadly worsen, said Wald.

TODAY'S FREE FLY STORIES

UPS

UPS

$120.71

1.61 (1.35%)

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DIS

Disney

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-1.14 (-0.86%)

, T

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BA

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  • 02

    Oct

MCF

Contango Oil & Gas

$1.71

-0.07 (-3.93%)

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GLD

SPDR Gold Shares

$142.97

1.68 (1.19%)

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VXRT

Vaxart

$0.58

-0.0307 (-5.03%)

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AAPL

Apple

$217.69

-3.22 (-1.46%)

17:34
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Apple given tariff exclusion on certain Mac Pro parts, Bloomberg says »

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IIVI

II-VI

$39.05

-0.5 (-1.26%)

, CPE

Callon Petroleum

$4.53

-0.015 (-0.33%)

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CPE

Callon Petroleum

$4.53

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PSMT

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$60.29

-0.39 (-0.64%)

FNSR

Finisar

$24.31

1.25 (5.42%)

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  • 23

    Sep

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    Oct

  • 30

    Oct

NVR

NVR

$3,632.55

-30.45 (-0.83%)

, JEF

Jefferies Financial Group

$19.47

-0.19 (-0.97%)

17:26
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Hot Stocks
NVR to replace Jefferies Financial Group in the S&P 500 at open on September 26 »

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NVR

NVR

$3,632.55

-30.45 (-0.83%)

JEF

Jefferies Financial Group

$19.47

-0.19 (-0.97%)

SPB

Spectrum Brands

$49.66

-1.395 (-2.73%)

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  • 16

    Oct

NOC

Northrop Grumman

$368.25

-7.45 (-1.98%)

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Northrop Grumman subsidiary awarded $1.12B Missile Defense Agency contract »

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PSMT

PriceSmart

$60.29

-0.39 (-0.64%)

, FNSR

Finisar

$24.31

1.25 (5.42%)

17:23
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Hot Stocks
Breaking Hot Stocks news story on PriceSmart, Finisar »

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PSMT

PriceSmart

$60.29

-0.39 (-0.64%)

FNSR

Finisar

$24.31

1.25 (5.42%)

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  • 30

    Oct

IIVI

II-VI

$39.05

-0.5 (-1.26%)

, CPE

Callon Petroleum

$4.53

-0.015 (-0.33%)

17:22
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Breaking Hot Stocks news story on II-VI, Callon Petroleum »

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IIVI

II-VI

$39.05

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Callon Petroleum

$4.53

-0.015 (-0.33%)

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  • 23

    Sep

  • 24

    Sep

  • 02

    Oct

NVR

NVR

$3,632.55

-30.45 (-0.83%)

17:20
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Breaking Hot Stocks news story on NVR »

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NHYDY

Norsk Hydro

$0.00

(0.00%)

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Norsk Hydro discloses federal court in Brazil lifts embargo on Alunortes »

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RESN

Resonant

$3.05

0.02 (0.66%)

17:03
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  • 01

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    Nov

NINE

Nine Energy Services

$6.73

-0.33 (-4.67%)

17:02
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ATOM

Atomera

$3.70

0.17 (4.82%)

17:00
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Conference/Events
Atomera participates in a conference call with Loop Capital »

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MPWR

Monolithic Power

$154.21

-2 (-1.28%)

16:50
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Conference/Events
Monolithic Power participates in a conference call with Loop Capital »

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  • 02

    Oct

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AAPL

Apple

$217.69

-3.22 (-1.46%)

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Periodicals
Breaking Periodicals news story on Apple »

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IDA

IDACORP

$111.26

0.93 (0.84%)

16:36
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  • 10

    Nov

MO

Altria Group

$40.80

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EADSY

Airbus

$0.00

(0.00%)

, AL

Air Lease

$42.68

-0.615 (-1.42%)

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EADSY

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$0.00

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AL

Air Lease

$42.68

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  • 13

    Nov

16:30
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Options
Preliminary option volume of 23.5M today »

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PSX

Phillips 66

$103.26

0.14 (0.14%)

16:28
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Phillips 66 says Beaumont oil terminal ops still shut down, Reuters says »

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  • 25

    Oct

POST

Post Holdings

$105.73

0.335 (0.32%)

16:24
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Post files IPO for active nutrition unit BellRing Brands »

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