Paychex, Inc. (NASDAQ:PAYX) VP Laurie L. Zaucha sold 17,354 shares of the company’s stock in a transaction dated Tuesday, October 10th. The shares were sold at an average price of $64.00, for a total value of $1,110,656.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Shares of Paychex, Inc. (NASDAQ:PAYX) traded down 0.36% during midday trading on Wednesday, reaching $63.48. The company’s stock had a trading volume of 2,913,024 shares. The company has a 50-day moving average price of $58.74 and a 200-day moving average price of $58.22. The firm has a market cap of $22.81 billion, a price-to-earnings ratio of 28.21 and a beta of 0.98. Paychex, Inc. has a 12 month low of $52.78 and a 12 month high of $64.08.

Paychex (NASDAQ:PAYX) last announced its earnings results on Tuesday, October 3rd. The business services provider reported $0.62 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.02. Paychex had a return on equity of 43.01% and a net margin of 26.01%. The business had revenue of $816.80 million for the quarter, compared to analyst estimates of $816.34 million. During the same quarter last year, the firm earned $0.60 EPS. Paychex’s revenue for the quarter was up 4.0% compared to the same quarter last year. Equities analysts expect that Paychex, Inc. will post $2.38 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Wednesday, November 1st will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 3.15%. The ex-dividend date of this dividend is Tuesday, October 31st. Paychex’s dividend payout ratio (DPR) is 87.34%.

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A number of equities analysts have recently weighed in on the company. Morgan Stanley reiterated an “equal weight” rating and issued a $59.00 target price (up previously from $55.00) on shares of Paychex in a report on Wednesday, October 4th. Robert W. Baird reiterated a “hold” rating and issued a $64.00 target price on shares of Paychex in a report on Wednesday, October 4th. Royal Bank Of Canada reiterated an “underperform” rating and issued a $57.00 target price (up previously from $54.00) on shares of Paychex in a report on Wednesday, October 4th. Citigroup Inc. reiterated a “sell” rating and issued a $53.00 target price on shares of Paychex in a report on Monday, October 2nd. Finally, BMO Capital Markets reiterated a “market perform” rating and issued a $62.00 target price (up previously from $60.00) on shares of Paychex in a report on Wednesday, October 4th. Five investment analysts have rated the stock with a sell rating, twelve have given a hold rating and two have given a buy rating to the stock. Paychex presently has a consensus rating of “Hold” and a consensus price target of $60.07.

Several large investors have recently bought and sold shares of the business. BlackRock Inc. increased its position in shares of Paychex by 2,782.5% during the 1st quarter. BlackRock Inc. now owns 25,717,903 shares of the business services provider’s stock worth $1,514,786,000 after purchasing an additional 24,825,695 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Paychex by 2.6% during the 2nd quarter. Vanguard Group Inc. now owns 23,043,348 shares of the business services provider’s stock worth $1,312,089,000 after purchasing an additional 589,880 shares during the last quarter. State Street Corp increased its position in shares of Paychex by 2.2% during the 1st quarter. State Street Corp now owns 14,205,592 shares of the business services provider’s stock worth $836,708,000 after purchasing an additional 309,889 shares during the last quarter. FMR LLC increased its position in shares of Paychex by 6.2% during the 2nd quarter. FMR LLC now owns 10,476,188 shares of the business services provider’s stock worth $596,514,000 after purchasing an additional 610,088 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Paychex by 5.6% during the 1st quarter. Geode Capital Management LLC now owns 3,805,670 shares of the business services provider’s stock worth $223,891,000 after purchasing an additional 203,332 shares during the last quarter. 67.31% of the stock is currently owned by hedge funds and other institutional investors.

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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