Paychex, Inc. (NASDAQ:PAYX) VP Laurie L. Zaucha sold 15,000 shares of the stock in a transaction dated Tuesday, October 3rd. The shares were sold at an average price of $62.00, for a total value of $930,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Paychex, Inc. (NASDAQ PAYX) traded up 1.00% on Wednesday, reaching $62.61. The company’s stock had a trading volume of 3,108,272 shares. The firm has a market capitalization of $22.50 billion, a PE ratio of 27.83 and a beta of 0.98. The stock’s 50 day moving average is $57.62 and its 200-day moving average is $58.16. Paychex, Inc. has a 52 week low of $52.78 and a 52 week high of $63.06.

Paychex (NASDAQ:PAYX) last released its earnings results on Tuesday, October 3rd. The business services provider reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.02. Paychex had a return on equity of 42.48% and a net margin of 25.93%. The business had revenue of $816.80 million for the quarter, compared to the consensus estimate of $816.34 million. During the same period last year, the business earned $0.60 earnings per share. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. Analysts predict that Paychex, Inc. will post $2.38 EPS for the current year.

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A number of hedge funds have recently added to or reduced their stakes in the stock. Intl Fcstone Inc. acquired a new stake in Paychex during the second quarter worth about $1,335,000. Navellier & Associates Inc grew its position in Paychex by 3.1% during the second quarter. Navellier & Associates Inc now owns 24,636 shares of the business services provider’s stock worth $1,403,000 after buying an additional 743 shares in the last quarter. Toronto Dominion Bank grew its position in Paychex by 31.2% during the second quarter. Toronto Dominion Bank now owns 117,056 shares of the business services provider’s stock worth $6,664,000 after buying an additional 27,820 shares in the last quarter. Oak Associates Ltd. OH grew its position in Paychex by 15.0% during the second quarter. Oak Associates Ltd. OH now owns 169,185 shares of the business services provider’s stock worth $9,633,000 after buying an additional 22,100 shares in the last quarter. Finally, Cetera Investment Advisers acquired a new stake in Paychex during the second quarter worth about $872,000. 67.31% of the stock is currently owned by institutional investors and hedge funds.

A number of equities research analysts have recently issued reports on PAYX shares. BidaskClub lowered Paychex from a “sell” rating to a “strong sell” rating in a research note on Saturday, July 1st. Robert W. Baird reiterated a “hold” rating and issued a $64.00 target price on shares of Paychex in a research note on Wednesday. Wedbush reiterated a “neutral” rating and issued a $61.25 target price (down previously from $65.00) on shares of Paychex in a research note on Tuesday, June 6th. Morgan Stanley upgraded Paychex from an “underweight” rating to an “equal weight” rating and set a $55.00 target price for the company in a research note on Wednesday, August 16th. They noted that the move was a valuation call. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $61.00 target price on shares of Paychex in a research note on Friday, August 18th. Five analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $60.07.

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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