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Paychex (NASDAQ:PAYX) CEO Martin Mucci unloaded 6,809 shares of the company’s stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $41.81, for a total transaction of $284,684.29. Following the completion of the transaction, the chief executive officer now directly owns 204,075 shares of the company’s stock, valued at approximately $8,532,376. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Shares of Paychex (NASDAQ:PAYX) traded up 0.01% on Friday, hitting $41.92. The stock had a trading volume of 1,428,476 shares. Paychex has a 1-year low of $36.80 and a 1-year high of $45.95. The stock’s 50-day moving average is $41.25 and its 200-day moving average is $41.91. The company has a market cap of $15.217 billion and a P/E ratio of 24.51.

Paychex (NASDAQ:PAYX) last issued its quarterly earnings data on Tuesday, July 1st. The company reported $0.40 earnings per share for the quarter, meeting the analysts’ 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 last year, the company posted $0.38 earnings per share. Paychex’s revenue was up 9.2% compared to the same quarter last year. Analysts expect that Paychex will post $1.84 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which is scheduled for Friday, August 15th. Investors of record on Friday, August 1st will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 3.63%. The ex-dividend date of this dividend is Wednesday, July 30th. This is an increase from Paychex’s previous quarterly dividend of $0.35.

A number of research firms have recently commented on PAYX. 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. Separately, 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 investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a strong buy rating to the company’s stock. Paychex presently has an average rating of “Hold” and a consensus target price of $41.00.

Paychex, Inc is a provider of payroll, human resource, and benefits outsourcing solutions for small to medium-sized businesses.

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