How to Buy Paychex Stock
Paychex Inc
Paychex, Inc. provides integrated human capital management solutions for human resources (HR), payroll, benefits, and insurance services for small to medium-sized businesses in the United States, Europe, and India.
Paychex stock last closed at $117.79, down 1.13% from the previous day, and has increased 7.77% in one year. It has overperformed other stocks in the Staffing & Employment Services industry by 0.1 percentage points. Paychex stock is currently +13.16% from its 52-week low of $104.09, and -9.18% from its 52-week high of $129.70.
At the moment, there are 359.96M shares of PAYX outstanding. The market value of PAYX is $42.40B. In the last 24 hours, 2.29M PAYX shares were traded.
How to Buy Paychex Stock
Wondering how to invest in Paychex stock? Here's how.
- Decide where to buy Paychex stock: You need to pick an online brokerage, but don't worry - we've researched dozens of online brokerages and apps to help you choose where to buy Paychex stock.
- Open a brokerage account: Sign up for 0% fee trading with the highest-rated brokerage we've found.
- Deposit funds into your brokerage account: Choose your method of payment and add your info.
- Research Paychex stock: The Paychex ticker symbol is PAYX. Is Paychex stock a good investment? Should you buy shares of PAYX? How do PAYX's underlying business fundamentals look? Do top analysts think Paychex is a good buy? Why has PAYX's stock price moved recently? (Hint: Our stock research tools can help you evaluate if PAYX is a good stock to buy).
- Execute your PAYX trade: Decide if you will purchase PAYX shares at the current market price or use a limit order to buy PAYX shares at a specific price.
- Monitor your PAYX position: Create a watchlist to watch your new investment in Paychex shares.
Step 1: Decide where to buy Paychex stock
You need a brokerage account in order to access the NASDAQ market and buy PAYX stock.
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Open eToro AccountStep 2: Open a brokerage account
Now that you've chosen your brokerage, the next step is to fill out some personal info so you are able to invest in PAYX today.
How to Start a New Investment Account on eToro
- Click here to get started.eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
- Provide your personal details to open your new brokerage account.
- Send your information by pressing the "Create Account" button. Get started with eToro today
Step 3: Deposit funds into your brokerage account
Now that you've filled out your info on a investment app, your next step is to transfer the money for your investment:
Watch the tutorial below to see the process of depositing funds into your investment account.
Step 4: Research Paychex stock
After you have selected the best place to buy Paychex stock, it's important to analyze their stock before you invest, so you can comprehend the risk as well as the upside.
Overview of key PAYX info
Paychex Due Diligence Checks
WallStreetZen was created to help everyday investors perform more in-depth fundamental analysis in less time.
You can see all of the due diligence checks on PAYX's stock page.
What is the fair value of PAYX stock?
You can use a variety of different financial metrics, analyses, models, and charts to gauge PAYX's true value.
Using relative valuations measures:
- PAYX may be undervalued based on its P/E ratio of 25.55x, relative to Staffing & Employment Services industry P/E ratio of 26.8x
- PAYX could be overvalued based on its P/B ratio of 11.32x, relative to Staffing & Employment Services industry P/B ratio of 9.41x
- PAYX could be overvalued based on its PEG ratio of 6.79x
You can do more valuation research on PAYX's stock here.
A look at PAYX Cashflows and Balance Sheet
Signs that PAYX is financially healthy:
- Total PAYX debt is lower than 5 years ago, relative to shareholder equity.
- There are more short-term assets than short-term liabilities on the PAYX balance sheet.
- PAYX profit margin has gone up from 30.5% to 31.9% in the past year.
- PAYX earnings of $2.19B is not enough to cover its interest payments.
- PAYX's operating cash flow of $2.09B allows it to safely service it's debt of $868.80M.
- There are more short-term assets than long-term liabilities on the PAYX balance sheet.
Signs that PAYX is not financially healthy:
- PAYX has a relatively high debt to equity ratio of 2.48.
Do Wall Street analysts think it's a good time to buy Paychex stock
Out of 10 Wall Street analysts who give forecasts on PAYX, the consensus analyst rating on PAYX is a Hold
It's important to note that analyst forecasts are not stock recommendations, nor are they investment advice.
Most Recent PAYX Analyst Upgrades/Downgrades
Peter Christiansen, a top 23% analyst from Citigroup maintains PAYX with a hold rating and lowers their PAYX price target from $130.00 to $125.00, on Dec 26, 2023.
Tien-tsin Huang, a top 23% analyst from JP Morgan maintains PAYX with a strong sell rating and lowers their PAYX price target from $134.00 to $126.00, on Dec 22, 2023.
David Grossman, a top 14% analyst from Stifel Nicolaus maintains PAYX with a hold rating and raises their PAYX price target from $124.00 to $130.00, on Dec 22, 2023.
Ramsey El-Assal, a bottom 2% analyst from Barclays maintains PAYX with a hold rating and lowers their PAYX price target from $126.00 to $120.00, on Dec 22, 2023.
Kevin Mcveigh, a bottom 4% analyst from UBS initiates coverage on PAYX with a hold rating and announces their PAYX price target of $120.00, on Nov 7, 2023.
You can dive deeper into what analysts are saying on the Paychex stock forecast page.
PAYX Momentum
Is PAYX Growing Revenue?
Last year, PAYX earnings were $1.66B. During the past five year, PAYX's earnings have grown by 10.1% per year. This was slower than the Staffing & Employment Services industry average of 51.44%.
Last year, PAYX revenue was $5.21B. In the past five year, PAYX's revenue has increased by 7.46% per year. This was slower than the Staffing & Employment Services industry average of 8.5%.
Learn more about PAYX's earnings and revenue performance here.
Are PAYX executives and large shareholders buying or selling the stock?
Over the past year, executives and large shareholders at PAYX have sold more shares than they have bought.
B. Thomas Golisano, Director of PAYX, was the latest PAYX insider to sell. They sold $88,856.70 worth of PAYX stock on Mar 5, 2024.
Get more info about who owns PAYX shares here.
Does PAYX stock generate passive income?
Paychex pays a dividend of 3.02%, compared to the Staffing & Employment Services industry's average dividend yield of 2.4%. If you owned $1,000 of PAYX stock, you would have received $30.22 in the past 12 months.
Paychex dividend payments have consistently grown over the past decade and have remained stable.
Find more data about Paychex dividend yield and history here.
What others are saying about PAYX
One of the biggest reasons eToro is our favorite brokerage is because of its social trading community.
Click below to see what other investors have to say.
Step 5: Execute your PAYX trade
There are two primary types of orders:
- Market order: A market order is an order to buy or sell a stock at the best available price.
Market orders are generally fine for most investors. - Limit order: A limit order is an order to buy or sell a stock at a specific price (or better).
If you want to be certain you're buying or selling at a particular dollar amount, use a limit order.
Hit the Open button and your broker will execute the order.
If you require additional assistance investing in stocks on eToro, click the how to video below:
Step 6: Monitor your PAYX position
Now that you own some PAYX stock, you'll want to stay up-to-date on your new investment.
Start a watchlist to keep tabs on your PAYX stock.
PAYX Feed
How to Buy Stock in Paychex
To summarize, here are the 6 steps for buying Paychex stock:
- Decide where to buy Paychex stock
- Open a brokerage account
- Deposit funds into your brokerage account
- Research Paychex stock
- Execute your PAYX trade
- Monitor your PAYX position
If you require a place to buy stocks, eToro is our recommended venue.
Get Started with eToro TodayIf you want to get updates on your investment in Paychex, create a watchlist on WallStreetZen today.
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