Paychex, Inc. (NASDAQ:PAYX) CEO Martin Mucci sold 30,000 shares of the stock in a transaction that occurred on Thursday, July 13th. The stock was sold at an average price of $57.04, for a total value of $1,711,200.00. Following the transaction, the chief executive officer now owns 237,754 shares in the company, valued at approximately $13,561,488.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Martin Mucci also recently made the following trade(s):
- On Sunday, July 9th, Martin Mucci sold 33,294 shares of Paychex stock. The stock was sold at an average price of $57.40, for a total value of $1,911,075.60.
Paychex, Inc. (NASDAQ PAYX) traded down 0.99% on Friday, reaching $54.24. The company had a trading volume of 1,789,522 shares. Paychex, Inc. has a 52-week low of $52.78 and a 52-week high of $63.03. The firm has a market capitalization of $19.49 billion, a price-to-earnings ratio of 24.11 and a beta of 0.96. The stock’s 50-day moving average price is $57.04 and its 200 day moving average price is $59.00.
Paychex (NASDAQ:PAYX) last posted its quarterly earnings results on Wednesday, June 28th. The business services provider reported $0.54 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.01. The business had revenue of $799 million during the quarter, compared to the consensus estimate of $797.70 million. Paychex had a net margin of 25.93% and a return on equity of 42.65%. Paychex’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.49 earnings per share. On average, equities analysts anticipate that Paychex, Inc. will post $2.37 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 24th. Investors of record on Tuesday, August 1st will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.69%. This is an increase from Paychex’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Friday, July 28th.
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Large investors have recently modified their holdings of the stock. Manning & Napier Advisors LLC increased its stake in shares of Paychex by 9.7% in the first quarter. Manning & Napier Advisors LLC now owns 59,037 shares of the business services provider’s stock valued at $3,477,000 after buying an additional 5,231 shares during the last quarter. CENTRAL TRUST Co increased its stake in shares of Paychex by 5.8% in the first quarter. CENTRAL TRUST Co now owns 7,290 shares of the business services provider’s stock valued at $429,000 after buying an additional 400 shares during the last quarter. Burns J W & Co. Inc. NY increased its stake in shares of Paychex by 1.8% in the first quarter. Burns J W & Co. Inc. NY now owns 65,305 shares of the business services provider’s stock valued at $3,846,000 after buying an additional 1,129 shares during the last quarter. Chevy Chase Trust Holdings Inc. increased its stake in shares of Paychex by 2.2% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 280,066 shares of the business services provider’s stock valued at $16,496,000 after buying an additional 6,157 shares during the last quarter. Finally, Franklin Street Advisors Inc. NC increased its stake in shares of Paychex by 7.1% in the first quarter. Franklin Street Advisors Inc. NC now owns 99,336 shares of the business services provider’s stock valued at $5,851,000 after buying an additional 6,623 shares during the last quarter. 68.60% of the stock is owned by hedge funds and other institutional investors.
Several research firms have recently weighed in on PAYX. BMO Capital Markets restated a “hold” rating and issued a $60.00 target price on shares of Paychex in a research report on Thursday, June 29th. BidaskClub upgraded Paychex from a “strong sell” rating to a “sell” rating in a research report on Monday, July 31st. Goldman Sachs Group, Inc. (The) downgraded Paychex from a “buy” rating to a “neutral” rating and decreased their target price for the company from $68.00 to $64.00 in a research report on Tuesday, June 20th. J P Morgan Chase & Co restated a “neutral” rating and issued a $60.00 target price (down previously from $62.00) on shares of Paychex in a research report on Friday, June 30th. Finally, William Blair cut Paychex from an “outperform” rating to a “market perform” rating in a report on Friday, July 21st. Five investment analysts have rated the stock with a sell rating, eleven have given a hold rating and one has assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $59.16.
Paychex Company Profile
Paychex, Inc is a provider of integrated human capital management (HCM) solutions for payroll, human resource (HR), retirement and insurance services for small- to medium-sized businesses in the United States. The Company also has operations in Germany. The Company offers services, including Payroll processing, Human Resource Services, and Accounting and Financial Services.
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