Paychex, Inc. (NASDAQ:PAYX) CFO Efrain Rivera sold 476 shares of the business’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $85.72, for a total transaction of $40,802.72. Following the transaction, the chief financial officer now owns 62,192 shares of the company’s stock, valued at approximately $5,331,098.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Efrain Rivera also recently made the following trade(s):
- On Monday, July 8th, Efrain Rivera sold 6,209 shares of Paychex stock. The stock was sold at an average price of $84.87, for a total transaction of $526,957.83.
- On Saturday, July 6th, Efrain Rivera sold 3,196 shares of Paychex stock. The stock was sold at an average price of $85.31, for a total transaction of $272,650.76.
NASDAQ:PAYX opened at $85.23 on Thursday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.17. The stock has a market capitalization of $30.61 billion, a P/E ratio of 30.01, a P/E/G ratio of 3.09 and a beta of 0.86. Paychex, Inc. has a fifty-two week low of $61.32 and a fifty-two week high of $88.43. The stock’s 50 day moving average is $85.59.
Paychex (NASDAQ:PAYX) last issued its earnings results on Wednesday, June 26th. The business services provider reported $0.63 EPS for the quarter, missing the Zacks’ consensus estimate of $0.65 by ($0.02). The business had revenue of $980.40 million during the quarter, compared to analysts’ expectations of $978.94 million. Paychex had a net margin of 27.42% and a return on equity of 40.99%. The business’s revenue was up 15.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.61 EPS. As a group, research analysts anticipate that Paychex, Inc. will post 3.09 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 22nd. Shareholders of record on Thursday, August 1st will be issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 2.91%. The ex-dividend date of this dividend is Wednesday, July 31st. Paychex’s dividend payout ratio is currently 87.32%.
Several hedge funds and other institutional investors have recently bought and sold shares of PAYX. Liberty Wealth Management LLC bought a new stake in shares of Paychex during the fourth quarter worth about $25,000. FinTrust Capital Advisors LLC raised its position in shares of Paychex by 64.9% during the first quarter. FinTrust Capital Advisors LLC now owns 310 shares of the business services provider’s stock worth $25,000 after purchasing an additional 122 shares during the period. Glassman Wealth Services raised its position in shares of Paychex by 125.0% during the first quarter. Glassman Wealth Services now owns 306 shares of the business services provider’s stock worth $25,000 after purchasing an additional 170 shares during the period. TCI Wealth Advisors Inc. grew its holdings in Paychex by 404.8% during the first quarter. TCI Wealth Advisors Inc. now owns 318 shares of the business services provider’s stock worth $26,000 after buying an additional 255 shares in the last quarter. Finally, Ellevest Inc. bought a new stake in Paychex during the first quarter worth $27,000. 69.69% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts recently commented on the stock. William Blair reiterated a “market perform” rating on shares of Paychex in a research note on Thursday, June 27th. BidaskClub downgraded shares of Paychex from a “buy” rating to a “hold” rating in a research note on Sunday, June 30th. Credit Suisse Group upgraded shares of Mosaic from an “underperform” rating to a “neutral” rating and set a $27.49 target price for the company in a research note on Thursday, March 28th. Barclays reiterated a “sell” rating on shares of easyJet in a research note on Monday, April 1st. Finally, Sanford C. Bernstein cut shares of Encana from an “outperform” rating to a “market perform” rating in a research report on Tuesday, April 30th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus 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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