Paychex CFO Efrain Rivera 570 Shares (PAYX)
Paychex (NASDAQ:PAYX) CFO Efrain Rivera 570 shares of the company’s stock in a transaction that occurred on Thursday, July 10th. Following the completion of the , the chief financial officer now directly owns 36,386 shares of the company’s stock, valued at approximately $1,525,301. The was disclosed in a filing with the SEC, which is available at this link.
PAYX has been the subject of a number of recent research reports. 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 equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $41.00.
Paychex (NASDAQ:PAYX) traded up 0.01% during mid-day trading on Friday, hitting $41.92. 1,428,476 shares of the company’s stock traded hands. Paychex has a 1-year low of $36.80 and a 1-year high of $45.95. The stock has a 50-day moving average of $41.29 and a 200-day moving average of $41.89. The company has a market cap of $15.217 billion and a price-to-earnings ratio of 24.51.
Paychex (NASDAQ:PAYX) last posted its quarterly earnings results 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. 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. Stockholders 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 a boost from Paychex’s previous quarterly dividend of $0.35.
Paychex, Inc is a provider of payroll, human resource, and benefits outsourcing solutions for small to medium-sized businesses.
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