This morning we watched Paychex drop -1.7% to a price of $109.03 per share. The large-cap Business Services company is now trading -10.36% below its average target price of $121.63. Analysts have set target prices ranging from $105.0 to $140.0 per share for Paychex, and have given the stock an average rating of hold.
The stock has an average amount of shares sold short at 3.2%, and a short ratio of 4.49. The company's insiders own 10.75% of its outstanding shares, which indicates a strong alignment between management and shareholder interests. Finally, we also note that an average number of institutional investors are invested in the stock, with 74.9% of Paychex's shares being owned by this investor type.
Institutions Invested in Paychex
| Date Reported | Holder | Percentage | Shares | Value |
|---|---|---|---|---|
| 2022-12-31 | Blackrock Inc. | 9% | 30,830,279 | $3,361,271,215 |
| 2022-12-31 | Vanguard Group, Inc. (The) | 9% | 30,787,344 | $3,356,590,226 |
| 2022-12-31 | Capital International Investors | 4% | 13,967,474 | $1,522,803,874 |
| 2022-12-31 | State Street Corporation | 4% | 13,123,899 | $1,430,833,108 |
| 2022-12-31 | Bank Of New York Mellon Corporation | 3% | 10,748,586 | $1,171,864,605 |
| 2022-12-31 | Wells Fargo & Company | 3% | 9,745,451 | $1,062,497,810 |
| 2022-12-31 | Bank of America Corporation | 3% | 9,228,997 | $1,006,191,412 |
| 2022-12-31 | Geode Capital Management, LLC | 2% | 7,919,290 | $863,400,604 |
| 2022-12-31 | Charles Schwab Investment Management, Inc. | 2% | 6,673,275 | $727,553,817 |
| 2022-12-31 | Northern Trust Corporation | 1% | 4,796,531 | $522,941,799 |
Besides an analyst consensus of sme upside potential, other market factors point to there being mixed market sentiment on Paychex.
