Citigroup raises PT on Paychex after profit beat in Q3

Brokerage Citigroup raises price target on employment servicing firm Paychex PAYX.O citing a strong showing in its quarterly results

Citigroup raises PT to $158 from $145; maintains "neutral" rating on stock

Client retention remains robust, bookings growth commentary was positive - brokerage

Co on Wed topped Wall Street estimates for quarterly profit

Brokerages Morgan Stanley and Stifel also raised their price targets on PAYX

Paychex, which has more than 745,000 clients in the U.S. and Europe, offers HR outsourcing, human capital management technology, payroll processing, and retirement and insurance solutions

One of 18 brokerages rate the stock "buy" or higher, 14 "hold" and 3 "sell" or lower; their median PT is $140.50 - LSEG

As of last close, PAYX up ~7% YTD