Paychex, Inc. (NASDAQ:PAYX) VP Laurie L. Zaucha sold 17,354 shares of the stock in a transaction that occurred on Tuesday, October 10th. The shares were sold at an average price of $64.00, for a total transaction of $1,110,656.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Shares of Paychex, Inc. (PAYX) opened at 64.42 on Friday. The stock’s 50 day moving average is $59.20 and its 200 day moving average is $58.30. The firm has a market cap of $23.15 billion, a P/E ratio of 28.63 and a beta of 0.98. Paychex, Inc. has a 12 month low of $52.78 and a 12 month high of $64.44.

Paychex (NASDAQ:PAYX) last announced its earnings results on Tuesday, October 3rd. The business services provider reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.02. The company 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% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.60 earnings per share. Equities research analysts expect that Paychex, Inc. will post $2.38 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Wednesday, November 1st will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, October 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.10%. Paychex’s dividend payout ratio is presently 87.34%.

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A number of research firms have weighed in on PAYX. Morgan Stanley reissued an “equal weight” rating and set a $59.00 target price (up previously from $55.00) on shares of Paychex in a research report on Wednesday, October 4th. Wells Fargo & Company increased their target price on shares of Paychex from $58.00 to $60.00 and gave the company a “market perform” rating in a research report on Wednesday, October 4th. Bank of America Corporation increased their target price on shares of Paychex from $64.00 to $68.00 and gave the company a “buy” rating in a research report on Wednesday, October 4th. BMO Capital Markets reissued a “market perform” rating and set a $62.00 target price (up previously from $60.00) on shares of Paychex in a research report on Wednesday, October 4th. Finally, Royal Bank Of Canada reissued an “underperform” rating and set a $57.00 target price (up previously from $54.00) on shares of Paychex in a research report on Wednesday, October 4th. Five research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $60.07.

Hedge funds have recently modified their holdings of the stock. Northwest Quadrant Wealth Management LLC grew its stake 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. Pacer Advisors Inc. grew its stake in Paychex by 4.3% in the first quarter. Pacer Advisors Inc. now owns 10,174 shares of the business services provider’s stock worth $599,000 after purchasing an additional 417 shares during the period. Shelton Capital Management grew its stake in Paychex by 72.6% in the first quarter. Shelton Capital Management now owns 102,276 shares of the business services provider’s stock worth $6,024,000 after purchasing an additional 43,033 shares during the period. JPMorgan Chase & Co. grew its stake in Paychex by 314.1% in the first quarter. JPMorgan Chase & Co. now owns 1,001,929 shares of the business services provider’s stock worth $59,014,000 after purchasing an additional 759,973 shares during the period. Finally, Burney Co. grew its stake in Paychex by 28.9% in the first quarter. Burney Co. now owns 40,717 shares of the business services provider’s stock worth $2,398,000 after purchasing an additional 9,135 shares during the period. 67.31% of the stock is currently owned by institutional investors.

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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