Paychex, Inc. (NASDAQ:PAYX) insider Stephanie L. Schaeffer sold 1,791 shares of the firm’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 $152,790.21. Following the transaction, the insider now directly owns 46,355 shares in the company, valued at $3,954,545.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
NASDAQ PAYX opened at $85.33 on Friday. Paychex, Inc. has a 52-week low of $61.32 and a 52-week high of $88.43. The stock’s 50-day moving average is $85.66. 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 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 (NASDAQ:PAYX) last posted its quarterly earnings data on Wednesday, June 26th. The business services provider reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $978.94 million. During the same quarter last year, the business posted $0.61 EPS. The business’s quarterly revenue was up 15.9% on a year-over-year basis. On average, research analysts predict that Paychex, Inc. will post 3.09 earnings per share for the current fiscal year.
A number of research firms recently weighed in on PAYX. Credit Suisse Group raised shares of Mosaic from an “underperform” rating to a “neutral” rating and set a $27.49 price target on the stock in a research report on Thursday, March 28th. William Blair reissued a “market perform” rating on shares of Paychex in a research report on Thursday, June 27th. Barclays reissued a “sell” rating on shares of easyJet in a research report on Monday, April 1st. Sanford C. Bernstein lowered shares of Encana from an “outperform” rating to a “market perform” rating in a research report on Tuesday, April 30th. Finally, Bank of America began coverage on shares of Guangshen Railway Co. Ltd ADR Class H in a research report on Wednesday, June 26th. They set an “underperform” rating on the stock. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $75.08.
A number of hedge funds and other institutional investors have recently bought and sold shares of PAYX. Lunia Capital LP increased its holdings in Paychex by 8,881.0% during the fourth quarter. Lunia Capital LP now owns 10,859,007 shares of the business services provider’s stock worth $10,859,000 after buying an additional 10,738,096 shares during the last quarter. Ronna Sue Cohen increased its holdings in Paychex by 7,736.0% during the first quarter. Ronna Sue Cohen now owns 4,003,822 shares of the business services provider’s stock worth $4,004,000 after buying an additional 3,952,727 shares during the last quarter. BlackRock Inc. increased its holdings in Paychex by 12.3% during the first quarter. BlackRock Inc. now owns 31,465,698 shares of the business services provider’s stock worth $2,523,549,000 after buying an additional 3,435,500 shares during the last quarter. Norges Bank purchased a new position in shares of Paychex in the fourth quarter worth about $191,026,000. Finally, Pennsylvania Trust Co increased its stake 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 purchasing an additional 1,202,519 shares in the last quarter. Institutional investors and hedge funds own 69.66% of the company’s stock.
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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