Paychex, Inc. (NASDAQ:PAYX) VP Michael E. Gioja sold 50,088 shares of the company’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $85.74, for a total value of $4,294,545.12. Following the completion of the sale, the vice president now directly owns 70,023 shares of the company’s stock, valued at approximately $6,003,772.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

PAYX traded up $1.01 on Monday, reaching $86.28. The company’s stock had a trading volume of 73,721 shares, compared to its average volume of 1,394,261. The stock has a market cap of $30.52 billion, a price-to-earnings ratio of 30.37, a price-to-earnings-growth ratio of 3.92 and a beta of 0.87. Paychex, Inc. has a 1 year low of $66.60 and a 1 year high of $88.43. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.17 and a quick ratio of 1.17. The business’s 50 day moving average is $85.08 and its 200 day moving average is $83.88.

Paychex (NASDAQ:PAYX) last issued its quarterly earnings results on Wednesday, December 18th. The business services provider reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. The firm had revenue of $990.70 million during the quarter, compared to the consensus estimate of $988.26 million. Paychex had a return on equity of 41.21% and a net margin of 26.72%. Paychex’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.65 earnings per share. As a group, research analysts forecast that Paychex, Inc. will post 3.11 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Quantum Capital Management acquired a new stake in Paychex during the third quarter valued at approximately $26,000. Vigilant Capital Management LLC acquired a new stake in Paychex during the third quarter valued at approximately $27,000. Cornerstone Advisors Inc. raised its stake in Paychex by 91.9% during the third quarter. Cornerstone Advisors Inc. now owns 330 shares of the business services provider’s stock valued at $27,000 after buying an additional 158 shares in the last quarter. Benjamin Edwards Inc. raised its stake in Paychex by 58.2% during the third quarter. Benjamin Edwards Inc. now owns 348 shares of the business services provider’s stock valued at $29,000 after buying an additional 128 shares in the last quarter. Finally, Stonebridge Capital Advisors LLC acquired a new stake in Paychex during the second quarter valued at approximately $32,000. 69.31% of the stock is owned by hedge funds and other institutional investors.

Several equities research analysts have recently weighed in on the company. BidaskClub downgraded Paychex from a “sell” rating to a “strong sell” rating in a research report on Friday, December 27th. Robert W. Baird upped their target price on Paychex from $83.00 to $87.00 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. Jefferies Financial Group reissued a “hold” rating and issued a $84.00 price target on shares of Paychex in a report on Wednesday, December 18th. Barclays increased their price target on Paychex from $80.00 to $84.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Finally, ValuEngine downgraded Paychex from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. Paychex presently has a consensus rating of “Hold” and a consensus price target of $82.71.

About Paychex

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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