Paychex, Inc. (NASDAQ:PAYX) insider Stephanie L. Schaeffer sold 217 shares of the business’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $85.33, for a total transaction of $18,516.61. Following the transaction, the insider now owns 47,696 shares of the company’s stock, valued at approximately $4,069,899.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Shares of Paychex stock traded up $0.39 during trading on Friday, hitting $85.72. The stock had a trading volume of 1,747,240 shares, compared to its average volume of 1,947,590. The stock’s 50 day simple moving average is $85.66. Paychex, Inc. has a 1 year low of $61.32 and a 1 year high of $88.43. The stock has a market cap of $30.69 billion, a P/E ratio of 30.18, a PEG ratio of 3.08 and a beta of 0.86. The company has a quick ratio of 1.11, a current ratio of 1.17 and a debt-to-equity ratio of 0.30.
Paychex (NASDAQ:PAYX) last issued its quarterly earnings data on Wednesday, June 26th. The business services provider reported $0.63 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.65 by ($0.02). The firm had revenue of $980.40 million during the quarter, compared to analyst estimates of $978.94 million. Paychex had a return on equity of 40.99% and a net margin of 27.42%. Paychex’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.61 earnings per share. On average, sell-side analysts predict that Paychex, Inc. will post 3.09 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 22nd. Stockholders of record on Thursday, August 1st will be paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date of this dividend is Wednesday, July 31st. Paychex’s dividend payout ratio is 87.32%.
Hedge funds have recently made changes to their positions in the company. M Holdings Securities Inc. acquired a new position in shares of Paychex in the 1st quarter valued at $214,000. Exeter Financial LLC raised its stake in shares of Paychex by 1.0% in the 1st quarter. Exeter Financial LLC now owns 12,805 shares of the business services provider’s stock valued at $1,027,000 after buying an additional 128 shares in the last quarter. Northeast Financial Consultants Inc acquired a new position in shares of Paychex in the 1st quarter valued at $694,000. Aurora Investment Counsel acquired a new position in shares of Paychex in the 4th quarter valued at $1,963,000. Finally, Envestnet Asset Management Inc. raised its stake in shares of Paychex by 16.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 273,029 shares of the business services provider’s stock valued at $21,897,000 after buying an additional 38,873 shares in the last quarter. Institutional investors own 69.66% of the company’s stock.
PAYX has been the subject of a number of research reports. Sanford C. Bernstein cut shares of Encana from an “outperform” rating to a “market perform” rating in a report on Tuesday, April 30th. Barclays reaffirmed a “sell” rating on shares of easyJet in a report on Monday, April 1st. Bank of America initiated coverage on shares of Guangshen Railway Co. Ltd ADR Class H in a report on Wednesday, June 26th. They issued an “underperform” rating for the company. Credit Suisse Group upgraded shares of Mosaic from an “underperform” rating to a “neutral” rating and set a $27.49 price target on the stock in a research report on Thursday, March 28th. Finally, BidaskClub lowered shares of Paychex from a “buy” rating to a “hold” rating in a research report on Sunday, June 30th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and one has given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average 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.
Featured Story: Initial Public Offering (IPO)
Receive News & Ratings for Paychex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Paychex and related companies with MarketBeat.com's FREE daily email newsletter.