Martin Mucci Sells 30,000 Shares of Paychex, Inc. (NASDAQ:PAYX) Stock

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.

TRADEMARK VIOLATION NOTICE: This article was posted by Community Financial News and is the property of of Community Financial News. If you are reading this article on another site, it was illegally copied and republished in violation of U.S. and international copyright & trademark laws. The original version of this article can be viewed at https://www.com-unik.info/2017/08/11/paychex-inc-nasdaqpayx-ceo-martin-mucci-sells-30000-shares-updated-updated-updated.html.

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.

Insider Buying and Selling by Quarter for Paychex (NASDAQ:PAYX)

What are top analysts saying about Paychex Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Paychex Inc. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit