Somewhat Favorable Press Coverage Somewhat Unlikely to Impact Paychex (PAYX) Stock Price
News stories about Paychex (NASDAQ:PAYX) have been trending somewhat positive on Monday, Accern reports. The research group identifies negative and positive press coverage by analyzing more than twenty million news and blog sources in real-time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Paychex earned a news impact score of 0.19 on Accern’s scale. Accern also assigned headlines about the business services provider an impact score of 46.3652921593825 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the near future.
Here are some of the headlines that may have impacted Accern Sentiment Analysis’s analysis:
- Capital Investment Counsel Inc Sells 500 Shares of Paychex, Inc. (NASDAQ:PAYX) (iphonefresh.com)
- Paychex, Inc. (PAYX) Shares Bought by Shoker Investment Counsel Inc (vothemes.com)
- Paychex Featured in the Top 5 on Selling Power’s “50 Best Companies to Sell For” List in 2017 (finance.yahoo.com)
- Share Spotlight on Paychex Inc (PAYX) : Technicals in Focus – Financial News Review (finnewsreview.com)
- Dividend Yielding stock: Paychex, Inc. (PAYX) to observe with rate of 3.51% – Voice Of Analysts (analystsbuzz.com)
Shares of Paychex (NASDAQ PAYX) opened at 56.90 on Monday. The firm’s 50-day moving average price is $56.39 and its 200 day moving average price is $58.56. The company has a market cap of $20.45 billion, a PE ratio of 25.29 and a beta of 0.96. 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 the Thomson Reuters’ consensus estimate of $0.53 by $0.01. The business had revenue of $799 million during the quarter, compared to the consensus estimate of $797.70 million. Paychex had a net margin of 25.93% and a return on equity of 42.48%. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.49 earnings per share. Equities research analysts anticipate that Paychex will post $2.37 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 24th. Shareholders of record on Tuesday, August 1st were paid a $0.50 dividend. This is an increase from Paychex’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Friday, July 28th. This represents a $2.00 annualized dividend and a dividend yield of 3.51%. Paychex’s payout ratio is 88.50%.
Several brokerages recently issued reports on PAYX. BMO Capital Markets reissued a “hold” rating and issued a $60.00 price objective on shares of Paychex in a research note on Thursday, June 29th. BidaskClub raised Paychex from a “strong sell” rating to a “sell” rating in a research note on Monday, July 31st. Goldman Sachs Group, Inc. (The) cut Paychex from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $68.00 to $64.00 in a research note on Tuesday, June 20th. J P Morgan Chase & Co reissued a “neutral” rating and issued a $60.00 price objective (down previously from $62.00) on shares of Paychex in a research note on Friday, June 30th. Finally, William Blair cut Paychex from an “outperform” rating to a “market perform” rating in a research note on Friday, July 21st. Four equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and one has given a buy rating to the company. Paychex currently has an average rating of “Hold” and a consensus price target of $59.28.
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In other Paychex news, Director Joseph M. Tucci sold 6,000 shares of the business’s stock in a transaction on Monday, July 10th. The shares were sold at an average price of $57.82, for a total value of $346,920.00. Following the completion of the transaction, the director now owns 53,621 shares in the company, valued at $3,100,366.22. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Martin Mucci sold 30,000 shares of the business’s stock in a transaction 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 completion of the transaction, the chief executive officer now owns 237,754 shares of the company’s stock, valued at approximately $13,561,488.16. The disclosure for this sale can be found here. In the last 90 days, insiders sold 92,497 shares of company stock valued at $5,300,889. Insiders own 11.60% of the company’s stock.
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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