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Paychex (NASDAQ:PAYX) VP Michael E. Gioja unloaded 2,307 shares of the stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $41.78, for a total value of $96,386.46. Following the completion of the transaction, the vice president now directly owns 41,200 shares in the company, valued at approximately $1,721,336. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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 $41.25 and a 200-day moving average of $41.91. The company has a market cap of $15.217 billion and a P/E ratio of 24.51.

Paychex (NASDAQ:PAYX) last announced its earnings results 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. On average, analysts predict that Paychex will post $1.84 earnings per share for the current fiscal year.

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

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. 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 research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a strong buy rating to the company’s stock. Paychex currently has a consensus rating of “Hold” and an average price target 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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