Paychex, Inc. (NASDAQ:PAYX) CEO Martin Mucci sold 29,786 shares of the business’s stock in a transaction that occurred on Thursday, October 5th. The shares were sold at an average price of $63.17, for a total value of $1,881,581.62. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

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

  • On Thursday, July 13th, Martin Mucci sold 30,000 shares of Paychex stock. The shares were sold at an average price of $57.04, for a total value of $1,711,200.00.

Paychex, Inc. (PAYX) traded up 0.09% on Tuesday, hitting $63.71. The stock had a trading volume of 2,561,490 shares. Paychex, Inc. has a 12 month low of $52.78 and a 12 month high of $64.08. The company has a 50-day moving average of $58.51 and a 200 day moving average of $58.20. The company has a market cap of $22.90 billion, a PE ratio of 28.32 and a beta of 0.98.

Paychex (NASDAQ:PAYX) last issued its quarterly earnings results on Tuesday, October 3rd. The business services provider reported $0.62 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.02. The firm had revenue of $816.80 million for the quarter, compared to analyst estimates of $816.34 million. Paychex had a return on equity of 43.01% and a net margin of 26.01%. The business’s revenue was up 4.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.60 earnings per share. On average, analysts predict that Paychex, Inc. will post $2.38 EPS for the current fiscal year.

COPYRIGHT VIOLATION WARNING: This piece of content was originally posted by American Banking News and is the property of of American Banking News. If you are accessing this piece of content on another site, it was illegally stolen and republished in violation of US & international copyright & trademark law. The legal version of this piece of content can be read at https://www.americanbankingnews.com/2017/10/10/insider-selling-paychex-inc-payx-ceo-sells-29786-shares-of-stock.html.

A number of research analysts recently issued reports on PAYX shares. Bank of America Corporation boosted their price objective on Paychex from $64.00 to $68.00 and gave the company a “buy” rating in a research note on Wednesday, October 4th. Morgan Stanley upgraded Paychex from an “underweight” rating to an “equal weight” rating and set a $55.00 price objective for the company in a research note on Wednesday, August 16th. They noted that the move was a valuation call. Stifel Nicolaus reiterated a “hold” rating and set a $61.00 price objective on shares of Paychex in a research note on Friday, August 18th. Robert W. Baird reiterated a “hold” rating and set a $64.00 price objective on shares of Paychex in a research note on Wednesday, October 4th. Finally, BMO Capital Markets reiterated a “hold” rating and set a $60.00 price objective on shares of Paychex in a research note on Thursday, June 29th. Five analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $60.07.

Large investors have recently modified their holdings of the company. Salem Investment Counselors Inc. boosted its stake in shares of Paychex by 0.6% in the second quarter. Salem Investment Counselors Inc. now owns 1,796 shares of the business services provider’s stock worth $102,000 after acquiring an additional 11 shares during the last quarter. Dupont Capital Management Corp acquired a new stake in shares of Paychex in the second quarter worth approximately $129,000. Sun Life Financial INC boosted its stake in shares of Paychex by 23,260.0% in the second quarter. Sun Life Financial INC now owns 2,336 shares of the business services provider’s stock worth $133,000 after acquiring an additional 2,326 shares during the last quarter. San Francisco Sentry Investment Group CA acquired a new stake in shares of Paychex in the second quarter worth approximately $145,000. Finally, Kernodle & Katon Asset Management Group LLC boosted its stake in shares of 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 worth $186,000 after acquiring an additional 867 shares during the last quarter. 67.31% of the stock is currently owned by hedge funds and other institutional investors.

About Paychex

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)

Receive News & Ratings for Paychex Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Paychex Inc. and related companies with MarketBeat.com's FREE daily email newsletter.