Paychex, Inc. (NASDAQ:PAYX) CEO Martin Mucci sold 30,000 shares of Paychex stock in a transaction that occurred on Thursday, July 13th. The shares were sold at an average price of $57.04, for a total transaction of $1,711,200.00. Following the sale, the chief executive officer now directly owns 237,754 shares of the company’s stock, valued at approximately $13,561,488.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Martin Mucci also recently made the following trade(s):

  • On Sunday, July 9th, Martin Mucci sold 33,294 shares of Paychex stock. The shares were sold at an average price of $57.40, for a total transaction of $1,911,075.60.

Paychex, Inc. (NASDAQ PAYX) traded down 0.17% during midday trading on Friday, reaching $57.10. 1,382,741 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $58.87 and its 200 day moving average is $59.90. The firm has a market capitalization of $20.52 billion, a P/E ratio of 25.38 and a beta of 0.96. Paychex, Inc. has a 52 week low of $52.78 and a 52 week high of $63.03.

Paychex (NASDAQ:PAYX) last posted its earnings results on Wednesday, June 28th. The business services provider reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.01. Paychex had a net margin of 25.93% and a return on equity of 42.65%. The business had revenue of $799 million for the quarter, compared to analysts’ expectations of $797.70 million. During the same period in the previous year, the company posted $0.49 earnings per share. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. On average, analysts expect that Paychex, Inc. will post $2.37 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 24th. Stockholders of record on Tuesday, August 1st will be given a dividend of $0.50 per share. This is a boost from Paychex’s previous quarterly dividend of $0.46. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.50%. The ex-dividend date is Friday, July 28th.

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PAYX has been the subject of several research analyst reports. BidaskClub downgraded shares of Paychex from a “sell” rating to a “strong sell” rating in a research note on Saturday, July 1st. Jefferies Group LLC reissued a “sell” rating and set a $50.00 price objective on shares of Paychex in a report on Tuesday, March 21st. Robert W. Baird cut their price objective on shares of Paychex from $63.00 to $60.00 and set a “neutral” rating on the stock in a report on Friday, June 30th. Wedbush reissued a “neutral” rating and set a $61.25 price objective (down from $65.00) on shares of Paychex in a report on Tuesday, June 6th. Finally, Morgan Stanley cut their price objective on shares of Paychex from $56.00 to $55.00 and set an “underweight” rating on the stock in a report on Friday, June 30th. Five investment analysts have rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the company. Paychex presently has a consensus rating of “Hold” and an average price target of $59.16.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Parkside Financial Bank & Trust boosted its stake in Paychex by 23.8% in the first quarter. Parkside Financial Bank & Trust now owns 2,935 shares of the business services provider’s stock valued at $173,000 after buying an additional 564 shares in the last quarter. Kernodle & Katon Asset Management Group LLC boosted its stake in Paychex by 37.7% in the first quarter. Kernodle & Katon Asset Management Group LLC now owns 3,166 shares of the business services provider’s stock valued at $186,000 after buying an additional 867 shares in the last quarter. Koshinski Asset Management Inc. bought a new stake in Paychex during the second quarter valued at about $201,000. Denver Investment Advisors LLC boosted its stake in Paychex by 7.7% in the first quarter. Denver Investment Advisors LLC now owns 3,791 shares of the business services provider’s stock valued at $223,000 after buying an additional 271 shares in the last quarter. Finally, King Wealth Management Group LLC boosted its stake in Paychex by 0.8% in the first quarter. King Wealth Management Group LLC now owns 3,793 shares of the business services provider’s stock valued at $223,000 after buying an additional 30 shares in the last quarter. 68.46% of the stock is currently owned by institutional investors and hedge funds.

Paychex Company Profile

Paychex, Inc is a provider of integrated human capital management (HCM) solutions for payroll, human resource (HR), retirement and insurance services for small- to medium-sized businesses in the United States. The Company also has operations in Germany. The Company offers services, including Payroll processing, Human Resource Services, and Accounting and Financial Services.

Insider Buying and Selling by Quarter for Paychex (NASDAQ:PAYX)

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