Paychex, Inc. (NASDAQ:PAYX) VP Laurie L. Zaucha sold 151 shares of the business’s stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $85.33, for a total transaction of $12,884.83. Following the completion of the sale, the vice president now directly owns 55,960 shares of the company’s stock, valued at approximately $4,775,066.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Shares of NASDAQ PAYX traded up $0.39 during midday trading on Friday, hitting $85.72. The company’s stock had a trading volume of 1,747,240 shares, compared to its average volume of 1,947,590. Paychex, Inc. has a 1-year low of $61.32 and a 1-year high of $88.43. The business has a fifty day simple moving average of $85.66. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.17. The firm has a market cap of $30.69 billion, a price-to-earnings ratio of 30.18, a P/E/G ratio of 3.08 and a beta of 0.86.
Paychex (NASDAQ:PAYX) last posted its quarterly earnings results on Wednesday, June 26th. The business services provider reported $0.63 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.65 by ($0.02). Paychex had a net margin of 27.42% and a return on equity of 40.99%. The business had revenue of $980.40 million during the quarter, compared to analyst estimates of $978.94 million. During the same period last year, the firm posted $0.61 earnings per share. The company’s quarterly revenue was up 15.9% on a year-over-year basis. On average, equities research analysts forecast that Paychex, Inc. will post 3.09 EPS for the current year.
The business also recently declared 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 currently 87.32%.
Several research analysts have recently commented on the stock. Sanford C. Bernstein lowered shares of Encana from an “outperform” rating to a “market perform” rating in a report on Tuesday, April 30th. BidaskClub lowered shares of Paychex from a “buy” rating to a “hold” rating in a report on Sunday, June 30th. Bank of America assumed 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. William Blair reaffirmed a “market perform” rating on shares of Paychex in a report on Thursday, June 27th. Finally, Credit Suisse Group raised shares of Mosaic from an “underperform” rating to a “neutral” rating and set a $27.49 price target for the company in a report on Thursday, March 28th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and one has issued a buy rating to the company. Paychex has a consensus rating of “Hold” and a consensus price target of $75.08.
Large investors have recently modified their holdings of the company. Commonwealth Bank of Australia boosted its position in Paychex by 10.8% during the 4th quarter. Commonwealth Bank of Australia now owns 22,795 shares of the business services provider’s stock valued at $1,478,000 after acquiring an additional 2,228 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Paychex by 8.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,211,954 shares of the business services provider’s stock valued at $78,958,000 after acquiring an additional 89,380 shares in the last quarter. Stifel Financial Corp boosted its position in Paychex by 19.0% during the 4th quarter. Stifel Financial Corp now owns 308,233 shares of the business services provider’s stock valued at $20,085,000 after acquiring an additional 49,119 shares in the last quarter. Geode Capital Management LLC boosted its position in Paychex by 5.5% during the 4th quarter. Geode Capital Management LLC now owns 5,212,402 shares of the business services provider’s stock valued at $339,236,000 after acquiring an additional 270,888 shares in the last quarter. Finally, BOKF NA boosted its position in Paychex by 0.8% during the 4th quarter. BOKF NA now owns 43,533 shares of the business services provider’s stock valued at $2,837,000 after acquiring an additional 329 shares in the last quarter. 69.66% of the stock is owned by institutional investors.
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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