Paychex, Inc. (PAYX) Declares Quarterly Dividend of $0.38
Paychex (NASDAQ:PAYX) declared a quarterly dividend on Thursday, July 10th, Analyst Ratings.Net reports. Shareholders of record on Friday, August 1st will be given a dividend of 0.38 per share on Friday, August 15th. This represents a $1.52 dividend on an annualized basis and a yield of 3.65%.
Several analysts have recently commented on the stock. Analysts at Goldman Sachs initiated coverage on shares of Paychex in a research note on Tuesday. They set a “conviction-buy” rating on the stock. On a related note, analysts at JPMorgan Chase & Co. reiterated an “underweight” rating on shares of Paychex in a research note on Thursday, July 3rd. They now have a $40.00 price target on the stock, up previously from $38.00. Finally, analysts at Citigroup Inc. reiterated an “in-line” rating on shares of Paychex in a research note on Thursday, July 3rd. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $41.00.
Shares of Paychex (NASDAQ:PAYX) opened at 41.70 on Thursday. Paychex has a 52-week low of $36.80 and a 52-week high of $45.95. The stock’s 50-day moving average is $41.19 and its 200-day moving average is $41.91. The company has a market cap of $15.137 billion and a P/E ratio of 24.48.
Paychex (NASDAQ:PAYX) last issued its quarterly earnings data on Tuesday, July 1st. The company reported $0.40 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.40. The company had revenue of $639.00 million for the quarter, compared to the consensus estimate of $617.35 million. During the same quarter in the previous year, the company posted $0.38 earnings per share. The company’s revenue for the quarter was up 9.2% on a year-over-year basis. On average, analysts predict that Paychex will post $1.84 earnings per share for the current fiscal year.
In other Paychex news, Insider Stephanie L. Schaeffer sold 2,190 shares of the stock on the open market in a transaction that occurred on Sunday, July 6th. The stock was sold at an average price of $41.55, for a total value of $90,994.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
Paychex, Inc is a provider of payroll, human resource, and benefits outsourcing solutions for small to medium-sized businesses.
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