Paychex, Inc. (NASDAQ:PAYX) CFO Efrain Rivera sold 3,196 shares of the company’s stock in a transaction dated Saturday, July 6th. The stock was sold at an average price of $85.31, for a total value of $272,650.76. Following the transaction, the chief financial officer now directly owns 57,707 shares of the company’s stock, valued at $4,922,984.17. The transaction was disclosed in a filing with the SEC, which is accessible through this link.
Efrain Rivera also recently made the following trade(s):
- On Monday, July 8th, Efrain Rivera sold 6,209 shares of Paychex stock. The stock was sold at an average price of $84.87, for a total value of $526,957.83.
Paychex stock opened at $85.33 on Friday. Paychex, Inc. has a fifty-two week low of $61.32 and a fifty-two week high of $88.43. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.17 and a quick ratio of 1.11. The stock has a market cap of $30.74 billion, a P/E ratio of 30.05, a P/E/G ratio of 3.07 and a beta of 0.87. The firm has a 50-day moving average price of $85.66.
Paychex (NASDAQ:PAYX) last posted its earnings results on Wednesday, June 26th. The business services provider reported $0.63 earnings per share 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 firm had revenue of $980.40 million during the quarter, compared to analysts’ expectations of $978.94 million. During the same period in the previous year, the firm posted $0.61 earnings per share. The firm’s revenue for the quarter was up 15.9% on a year-over-year basis. Sell-side analysts forecast that Paychex, Inc. will post 3.09 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 22nd. Stockholders of record on Thursday, August 1st will be issued a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 2.91%. Paychex’s payout ratio is currently 87.32%.
Several research analysts have recently issued reports on PAYX shares. BidaskClub cut Paychex from a “buy” rating to a “hold” rating in a research report on Sunday, June 30th. Barclays reaffirmed a “sell” rating on shares of easyJet in a research report on Monday, April 1st. Sanford C. Bernstein cut Encana from an “outperform” rating to a “market perform” rating in a research report on Tuesday, April 30th. William Blair reissued a “market perform” rating on shares of Paychex in a report on Thursday, June 27th. Finally, Credit Suisse Group raised Mosaic from an “underperform” rating to a “neutral” rating and set a $27.49 target price for the company in a report on Thursday, March 28th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $75.08.
Several institutional investors have recently bought and sold shares of PAYX. Blueshift Asset Management LLC bought a new stake in Paychex in the fourth quarter valued at $323,000. Korea Investment CORP boosted its holdings in Paychex by 69.5% in the fourth quarter. Korea Investment CORP now owns 172,493 shares of the business services provider’s stock valued at $11,238,000 after acquiring an additional 70,700 shares in the last quarter. Commonwealth Bank of Australia boosted its holdings in Paychex by 10.8% in the fourth 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. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in Paychex by 8.8% in the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 77,388 shares of the business services provider’s stock valued at $5,042,000 after acquiring an additional 6,275 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Paychex by 8.0% in the fourth 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. 69.66% of the stock is owned by institutional investors and hedge funds.
Paychex Company Profile
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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