Paychex, Inc. (NASDAQ:PAYX) VP Laurie L. Zaucha sold 15,000 shares of the stock in a transaction that occurred on Tuesday, October 3rd. The stock was sold at an average price of $62.00, for a total value of $930,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Paychex, Inc. (NASDAQ PAYX) opened at 63.62 on Friday. The stock has a market capitalization of $22.86 billion, a P/E ratio of 28.28 and a beta of 0.98. The company has a 50-day moving average price of $58.27 and a 200 day moving average price of $58.24. Paychex, Inc. has a 1-year low of $52.78 and a 1-year high of $63.68.

Paychex (NASDAQ:PAYX) last released its earnings results on Tuesday, October 3rd. The business services provider reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.02. The firm had revenue of $816.80 million during the quarter, compared to the consensus estimate of $816.34 million. Paychex had a return on equity of 43.01% and a net margin of 26.01%. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.60 earnings per share. On average, equities analysts predict that Paychex, Inc. will post $2.38 EPS for the current year.

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A number of analysts have weighed in on the company. Morgan Stanley reaffirmed an “equal weight” rating and set a $59.00 price objective (up from $55.00) on shares of Paychex in a research report on Wednesday. BMO Capital Markets reaffirmed a “market perform” rating and set a $62.00 price objective (up from $60.00) on shares of Paychex in a research report on Wednesday. Wells Fargo & Company increased their price objective on Paychex from $58.00 to $60.00 and gave the stock a “market perform” rating in a research report on Wednesday. Royal Bank Of Canada reaffirmed an “underperform” rating and set a $57.00 price objective (up from $54.00) on shares of Paychex in a research report on Wednesday. Finally, Robert W. Baird reaffirmed a “hold” rating and set a $64.00 price objective on shares of Paychex in a research report on Wednesday. Five research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $60.07.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Salem Investment Counselors Inc. lifted its position in Paychex by 0.6% in the second quarter. Salem Investment Counselors Inc. now owns 1,796 shares of the business services provider’s stock worth $102,000 after purchasing an additional 11 shares during the period. Bruderman Asset Management LLC lifted its position in Paychex by 0.3% in the first quarter. Bruderman Asset Management LLC now owns 6,794 shares of the business services provider’s stock worth $400,000 after purchasing an additional 20 shares during the period. Alps Advisors Inc. lifted its position in Paychex by 0.3% in the second quarter. Alps Advisors Inc. now owns 7,685 shares of the business services provider’s stock worth $438,000 after purchasing an additional 20 shares during the period. Northwest Quadrant Wealth Management LLC lifted its position in Paychex by 0.6% in the first quarter. Northwest Quadrant Wealth Management LLC now owns 3,923 shares of the business services provider’s stock worth $228,000 after purchasing an additional 24 shares during the period. Finally, King Wealth Management Group LLC lifted its position in Paychex by 0.8% in the first quarter. King Wealth Management Group LLC now owns 3,793 shares of the business services provider’s stock worth $223,000 after purchasing an additional 30 shares during the period. Hedge funds and other institutional investors own 67.31% of the company’s stock.

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.

Insider Buying and Selling by Quarter for Paychex (NASDAQ:PAYX)

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