Paychex, Inc. (NASDAQ:PAYX) VP Mark Anthony Bottini sold 2,366 shares of the company’s stock in a transaction dated Saturday, July 6th. The shares were sold at an average price of $85.31, for a total transaction of $201,843.46. Following the transaction, the vice president now owns 55,767 shares in the company, valued at $4,757,482.77. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.
Paychex stock traded up $0.36 during trading hours on Tuesday, hitting $85.21. The company had a trading volume of 1,934,318 shares, compared to its average volume of 1,948,429. The company has a market cap of $30.20 billion, a price-to-earnings ratio of 29.98, a P/E/G ratio of 3.07 and a beta of 0.87. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.17. Paychex, Inc. has a 1 year low of $61.32 and a 1 year high of $88.43. The business’s 50-day simple moving average is $85.76.
Paychex (NASDAQ:PAYX) last released its quarterly earnings data on Wednesday, June 26th. The business services provider reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.65 by ($0.02). The company had revenue of $980.40 million during the quarter, compared to analysts’ expectations of $978.94 million. Paychex had a net margin of 27.42% and a return on equity of 40.99%. Paychex’s quarterly revenue was up 15.9% on a year-over-year basis. During the same period last year, the firm earned $0.61 earnings per share. Research analysts forecast that Paychex, Inc. will post 3.09 EPS for the current fiscal year.
A number of institutional investors have recently added to or reduced their stakes in the business. Bangor Savings Bank purchased a new stake in shares of Paychex in the 2nd quarter worth approximately $276,000. O Keefe Stevens Advisory Inc. lifted its position in shares of Paychex by 5.5% in the 2nd quarter. O Keefe Stevens Advisory Inc. now owns 7,632 shares of the business services provider’s stock worth $628,000 after purchasing an additional 400 shares during the period. WINTON GROUP Ltd lifted its position in shares of Paychex by 89.1% in the 2nd quarter. WINTON GROUP Ltd now owns 8,182 shares of the business services provider’s stock worth $673,000 after purchasing an additional 3,855 shares during the period. DNB Asset Management AS lifted its position in shares of Paychex by 49.9% in the 2nd quarter. DNB Asset Management AS now owns 52,872 shares of the business services provider’s stock worth $4,351,000 after purchasing an additional 17,589 shares during the period. Finally, Rockland Trust Co. lifted its position in shares of Paychex by 2.6% in the 2nd quarter. Rockland Trust Co. now owns 5,497 shares of the business services provider’s stock worth $452,000 after purchasing an additional 138 shares during the period. 69.66% of the stock is owned by institutional investors.
Several equities analysts recently commented on the stock. Barclays upped their price target on shares of Paychex from $78.00 to $80.00 and gave the company an “equal weight” rating in a report on Monday, April 1st. BidaskClub downgraded shares of Paychex from a “buy” rating to a “hold” rating in a report on Sunday, June 30th. William Blair reiterated a “market perform” rating on shares of Paychex in a report on Thursday, June 27th. Credit Suisse Group upped their price target on shares of Paychex from $82.00 to $84.00 and gave the company an “outperform” rating in a report on Thursday, March 28th. Finally, Sanford C. Bernstein downgraded shares of Paychex from a “market perform” rating to an “underperform” rating in a report on Tuesday, April 30th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and one has issued a buy rating to the company’s stock. Paychex has an average rating of “Hold” and a consensus price target of $75.08.
Paychex, Inc provides payroll, human resource (HR), retirement, and insurance services for small to medium-sized businesses in the United States and Europe. The company offers payroll processing services; payroll tax administration services; employee payment services; and regulatory compliance services, such as new-hire reporting and garnishment processing.
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