Paychex (PAYX) Given News Impact Score of 0.29
Media headlines about Paychex (NASDAQ:PAYX) have trended positive recently, according to Accern Sentiment Analysis. The research firm identifies negative and positive media coverage by monitoring more than 20 million news and blog sources in real time. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores nearest to one being the most favorable. Paychex earned a coverage optimism score of 0.29 on Accern’s scale. Accern also assigned headlines about the business services provider an impact score of 44.3459777000093 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the stock’s share price in the next several days.
Here are some of the headlines that may have effected Accern Sentiment’s rankings:
- Small-business hiring slows in August but wages gain momentum, Paychex survey shows (finance.yahoo.com)
- Harvey slams small biz but expect 'bounce back': Paychex … (finance.yahoo.com)
- Zacks: Analysts Anticipate Paychex, Inc. (PAYX) to Announce $0.60 EPS (americanbankingnews.com)
- Vanguard Group Inc Significantly Increases Its Ownership in Paychex, Inc. (PAYX) Stock Last Quarter – Highlight Press (highlightpress.com)
- Tale of the Ticker: Paychex Inc (PAYX) Moves on Volume – FLBC News (flbcnews.com)
Paychex (NASDAQ PAYX) opened at 56.62 on Thursday. The stock has a market capitalization of $20.35 billion, a P/E ratio of 25.16 and a beta of 0.96. The stock has a 50 day moving average price of $56.48 and a 200-day moving average price of $58.68. Paychex has a 12-month low of $52.78 and a 12-month high of $63.03.
Paychex (NASDAQ:PAYX) last posted its quarterly earnings results on Wednesday, June 28th. The business services provider reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.01. Paychex had a return on equity of 42.48% and a net margin of 25.93%. The business had revenue of $799 million during the quarter, compared to analysts’ expectations of $797.70 million. During the same quarter last year, the company posted $0.49 earnings per share. Paychex’s quarterly revenue was up 6.0% on a year-over-year basis. Equities research analysts expect that Paychex will post $2.37 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 24th. Investors of record on Tuesday, August 1st were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, July 28th. This represents a $2.00 dividend on an annualized basis and a yield of 3.53%. This is a boost from Paychex’s previous quarterly dividend of $0.46. Paychex’s dividend payout ratio (DPR) is presently 88.50%.
A number of analysts have issued reports on PAYX shares. Morgan Stanley raised Paychex from an “underweight” rating to an “equal weight” rating and set a $55.00 price target on the stock in a research note on Wednesday, August 16th. They noted that the move was a valuation call. Stifel Nicolaus reissued a “hold” rating and issued a $61.00 price target on shares of Paychex in a research note on Friday, August 18th. BMO Capital Markets reissued a “hold” rating and issued a $60.00 price target on shares of Paychex in a research note on Thursday, June 29th. William Blair lowered Paychex from an “outperform” rating to a “market perform” rating in a research note on Friday, July 21st. Finally, Goldman Sachs Group, Inc. (The) lowered Paychex from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $68.00 to $64.00 in a research note on Tuesday, June 20th. Four equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and one has assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $59.28.
In other Paychex news, Director Joseph M. Tucci sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, July 10th. The shares were sold at an average price of $57.82, for a total transaction of $346,920.00. Following the completion of the sale, the director now directly owns 53,621 shares in the company, valued at $3,100,366.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Martin Mucci sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 13th. The stock was sold at an average price of $57.04, for a total transaction of $1,711,200.00. Following the sale, the chief executive officer now owns 237,754 shares of the company’s stock, valued at $13,561,488.16. The disclosure for this sale can be found here. Insiders have sold 92,497 shares of company stock valued at $5,300,889 in the last quarter. 11.60% of the stock is currently owned by corporate insiders.
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.
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