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Paychex (NASDAQ:PAYX) CFO Efrain Rivera unloaded 570 shares of the company’s stock on the open market in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $41.92, for a total value of $23,894.40. Following the completion of the sale, the chief financial officer now directly owns 36,386 shares of the company’s stock, valued at approximately $1,525,301. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Shares of Paychex (NASDAQ:PAYX) opened at 42.21 on Monday. Paychex has a 52-week low of $36.80 and a 52-week 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 $15.322 billion and a price-to-earnings ratio of 24.51.

Paychex (NASDAQ:PAYX) last released its 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. 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.

Several analysts have recently commented on the stock. Analysts at Goldman Sachs initiated coverage on shares of Paychex in a research note on Tuesday, July 8th. 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 issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus 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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