Paychex, Inc. (NASDAQ:PAYX) CEO Sells $1,685,640.29 in Stock
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.
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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