Insider Selling: Paychex, Inc. (PAYX) VP Sells 11,155 Shares of Stock
Paychex, Inc. (NASDAQ:PAYX) VP Jennifer R. Vossler sold 11,155 shares of Paychex stock in a transaction on Friday, October 6th. The stock was sold at an average price of $63.07, for a total transaction of $703,545.85. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Paychex, Inc. (NASDAQ PAYX) traded up 0.09% during mid-day trading on Tuesday, hitting $63.71. The company had a trading volume of 2,561,490 shares. Paychex, Inc. has a 52-week low of $52.78 and a 52-week high of $64.08. The company has a market capitalization of $22.90 billion, a P/E ratio of 28.32 and a beta of 0.98. The company has a 50-day moving average price of $58.51 and a 200 day moving average price of $58.20.
Paychex (NASDAQ:PAYX) last released its quarterly 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. The business had revenue of $816.80 million during the quarter, compared to analysts’ expectations of $816.34 million. Paychex had a return on equity of 43.01% and a net margin of 26.01%. The company’s revenue was up 4.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.60 EPS. On average, analysts forecast that Paychex, Inc. will post $2.38 EPS for the current fiscal year.
COPYRIGHT VIOLATION WARNING: This news story was first posted by American Banking News and is the sole property of of American Banking News. If you are viewing this news story on another domain, it was illegally stolen and reposted in violation of US and international copyright and trademark legislation. The correct version of this news story can be accessed at https://www.americanbankingnews.com/2017/10/10/insider-selling-paychex-inc-payx-vp-sells-11155-shares-of-stock.html.
A number of institutional investors have recently made changes to their positions in PAYX. Salem Investment Counselors Inc. boosted its holdings in Paychex by 0.6% during the 2nd quarter. Salem Investment Counselors Inc. now owns 1,796 shares of the business services provider’s stock valued at $102,000 after acquiring an additional 11 shares during the period. Dupont Capital Management Corp purchased a new position in Paychex during the 2nd quarter valued at about $129,000. Sun Life Financial INC boosted its holdings in Paychex by 23,260.0% during the 2nd quarter. Sun Life Financial INC now owns 2,336 shares of the business services provider’s stock valued at $133,000 after acquiring an additional 2,326 shares during the period. San Francisco Sentry Investment Group CA purchased a new position in Paychex during the 2nd quarter valued at about $145,000. Finally, Kernodle & Katon Asset Management Group LLC boosted its holdings in Paychex by 37.7% during the 1st quarter. Kernodle & Katon Asset Management Group LLC now owns 3,166 shares of the business services provider’s stock valued at $186,000 after acquiring an additional 867 shares during the period. Institutional investors own 67.31% of the company’s stock.
Several research analysts have commented on PAYX shares. Morgan Stanley dropped their price objective on shares of Paychex from $56.00 to $55.00 and set an “underweight” rating for the company in a research note on Friday, June 30th. William Blair lowered shares of Paychex from an “outperform” rating to a “market perform” rating in a research note on Friday, July 21st. BidaskClub lowered shares of Paychex from a “sell” rating to a “strong sell” rating in a research note on Saturday, July 1st. BMO Capital Markets reaffirmed a “hold” rating and set a $60.00 price objective on shares of Paychex in a research note on Thursday, June 29th. Finally, J P Morgan Chase & Co reaffirmed a “neutral” rating and set a $60.00 price objective (down from $62.00) on shares of Paychex in a research note on Friday, June 30th. Five equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average 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.
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.