Paychex, Inc. (NASDAQ:PAYX) CEO Martin Mucci sold 19,759 shares of Paychex stock in a transaction dated Saturday, July 6th. The stock was sold at an average price of $85.31, for a total transaction of $1,685,640.29. Following the sale, the chief executive officer now owns 280,170 shares of the company’s stock, valued at $23,901,302.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Shares of NASDAQ PAYX opened at $85.33 on Friday. The stock has a market capitalization of $30.74 billion, a P/E ratio of 30.05, a PEG ratio of 3.07 and a beta of 0.87. Paychex, Inc. has a 12 month low of $61.32 and a 12 month high of $88.43. The company has a current ratio of 1.17, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. The business’s 50-day moving average price is $85.66.

Paychex (NASDAQ:PAYX) last released its earnings results on Wednesday, June 26th. The business services provider reported $0.63 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.65 by ($0.02). Paychex had a return on equity of 40.99% and a net margin of 27.42%. The company had revenue of $980.40 million during the quarter, compared to analyst estimates of $978.94 million. During the same period in the prior year, the business posted $0.61 earnings per share. Paychex’s revenue was up 15.9% on a year-over-year basis. As a group, analysts expect that Paychex, Inc. will post 3.09 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 22nd. Investors of record on Thursday, August 1st will be given a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 2.91%. Paychex’s dividend payout ratio is presently 87.32%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in PAYX. Lunia Capital LP boosted its position in shares of Paychex by 8,881.0% in the fourth quarter. Lunia Capital LP now owns 10,859,007 shares of the business services provider’s stock worth $10,859,000 after acquiring an additional 10,738,096 shares during the last quarter. Ronna Sue Cohen boosted its position in shares of Paychex by 7,736.0% in the first quarter. Ronna Sue Cohen now owns 4,003,822 shares of the business services provider’s stock worth $4,004,000 after acquiring an additional 3,952,727 shares during the last quarter. BlackRock Inc. boosted its position in shares of Paychex by 12.3% in the first quarter. BlackRock Inc. now owns 31,465,698 shares of the business services provider’s stock worth $2,523,549,000 after acquiring an additional 3,435,500 shares during the last quarter. Norges Bank acquired a new stake in shares of Paychex in the fourth quarter worth approximately $191,026,000. Finally, Pennsylvania Trust Co boosted its position in shares of Paychex by 6,076.7% in the first quarter. Pennsylvania Trust Co now owns 1,222,308 shares of the business services provider’s stock worth $51,110,000 after acquiring an additional 1,202,519 shares during the last quarter. 69.66% of the stock is currently owned by institutional investors and hedge funds.

A number of equities research analysts have recently commented on the stock. Credit Suisse Group upgraded shares of Mosaic from an “underperform” rating to a “neutral” rating and set a $27.49 price target for the company in a report on Thursday, March 28th. BidaskClub downgraded shares of Paychex from a “buy” rating to a “hold” rating in a report on Sunday, June 30th. Sanford C. Bernstein downgraded shares of Encana from an “outperform” rating to a “market perform” rating in a report on Tuesday, April 30th. William Blair reiterated a “market perform” rating on shares of Paychex in a report on Thursday, June 27th. Finally, Barclays reiterated a “sell” rating on shares of easyJet in a report on Monday, April 1st. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and one has issued a buy rating to the company’s stock. Paychex presently has a consensus rating of “Hold” and an average target price of $75.08.

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

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