Paychex, Inc. (NASDAQ:PAYX) VP Mark Anthony Bottini sold 2,366 shares of the company’s stock in a transaction dated Saturday, July 6th. The shares were sold at an average price of $85.31, for a total transaction of $201,843.46. Following the completion of the sale, the vice president now directly owns 55,767 shares in the company, valued at approximately $4,757,482.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of Paychex stock opened at $85.33 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.17 and a quick ratio of 1.11. The company has a market capitalization of $30.74 billion, a PE ratio of 30.05, a price-to-earnings-growth ratio of 3.07 and a beta of 0.87. Paychex, Inc. has a 1-year low of $61.32 and a 1-year high of $88.43. The business’s 50-day moving average price is $85.66.
Paychex (NASDAQ:PAYX) last issued its quarterly earnings data on Wednesday, June 26th. The business services provider reported $0.63 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.65 by ($0.02). The firm had revenue of $980.40 million for the quarter, compared to the consensus estimate of $978.94 million. Paychex had a return on equity of 40.99% and a net margin of 27.42%. Paychex’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.61 earnings per share. As a group, equities analysts expect that Paychex, Inc. will post 3.09 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 22nd. Shareholders of record on Thursday, August 1st will be paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 2.91%. Paychex’s dividend payout ratio is 87.32%.
Institutional investors have recently modified their holdings of the business. M Holdings Securities Inc. bought a new stake in Paychex during the first quarter worth about $214,000. Exeter Financial LLC lifted its position in shares of Paychex by 1.0% during the first quarter. Exeter Financial LLC now owns 12,805 shares of the business services provider’s stock worth $1,027,000 after purchasing an additional 128 shares in the last quarter. Northeast Financial Consultants Inc acquired a new position in shares of Paychex during the first quarter worth approximately $694,000. Aurora Investment Counsel acquired a new position in shares of Paychex during the fourth quarter worth approximately $1,963,000. Finally, Envestnet Asset Management Inc. lifted its position in shares of Paychex by 16.6% during the first quarter. Envestnet Asset Management Inc. now owns 273,029 shares of the business services provider’s stock worth $21,897,000 after purchasing an additional 38,873 shares in the last quarter. 69.66% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts recently weighed in on the stock. Bank of America assumed coverage on shares of Guangshen Railway Co. Ltd ADR Class H in a research note on Wednesday, June 26th. They issued an “underperform” rating on the stock. Sanford C. Bernstein cut shares of Encana from an “outperform” rating to a “market perform” rating in a research note on Tuesday, April 30th. Credit Suisse Group raised shares of Mosaic from an “underperform” rating to a “neutral” rating and set a $27.49 target price on the stock in a research note on Thursday, March 28th. Barclays reissued a “sell” rating on shares of easyJet in a research note on Monday, April 1st. Finally, William Blair reissued a “market perform” rating on shares of Paychex in a research note on Thursday, June 27th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and one has given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $75.08.
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.
Further Reading: Oversold
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