Paychex, Inc. (NASDAQ:PAYX) VP Robert L. Schrader Sells 751 Shares

Paychex, Inc. (NASDAQ:PAYX) VP Robert L. Schrader sold 751 shares of the company’s stock in a transaction on Saturday, August 3rd. The shares were sold at an average price of $83.89, for a total transaction of $63,001.39. Following the transaction, the vice president now owns 9,166 shares of the company’s stock, valued at $768,935.74. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Shares of PAYX stock traded down $3.05 during mid-day trading on Monday, reaching $80.88. The company’s stock had a trading volume of 2,559,442 shares, compared to its average volume of 1,925,377. Paychex, Inc. has a 1-year low of $61.32 and a 1-year high of $88.43. The company has a market capitalization of $30.16 billion, a P/E ratio of 28.48, a P/E/G ratio of 3.02 and a beta of 0.86. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.17 and a current ratio of 1.17. The firm’s 50-day moving average is $85.19.

Paychex (NASDAQ:PAYX) last announced 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 net margin of 27.42% and a return on equity of 40.99%. The business had revenue of $980.40 million during the quarter, compared to analyst estimates of $978.94 million. During the same quarter in the prior year, the company posted $0.61 EPS. The company’s quarterly revenue was up 15.9% compared to the same quarter last year. On average, analysts forecast that Paychex, Inc. will post 3.09 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 22nd. Stockholders of record on Thursday, August 1st will be paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date is Wednesday, July 31st. Paychex’s dividend payout ratio is 87.32%.

Several hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its holdings in Paychex by 8.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,211,954 shares of the business services provider’s stock valued at $78,958,000 after acquiring an additional 89,380 shares during the last quarter. Geode Capital Management LLC raised its position in Paychex by 5.5% in the fourth quarter. Geode Capital Management LLC now owns 5,212,402 shares of the business services provider’s stock valued at $339,236,000 after purchasing an additional 270,888 shares during the period. First Hawaiian Bank increased its position in shares of Paychex by 565.4% during the first quarter. First Hawaiian Bank now owns 2,768 shares of the business services provider’s stock worth $222,000 after acquiring an additional 2,352 shares during the period. Abner Herrman & Brock LLC purchased a new stake in shares of Paychex during the first quarter worth $211,000. Finally, Exeter Financial LLC increased 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 acquiring an additional 128 shares during the period. Institutional investors own 69.45% of the company’s stock.

Several equities analysts recently commented on the stock. Sanford C. Bernstein cut shares of Paychex from a “market perform” rating to an “underperform” rating in a research note on Tuesday, April 30th. William Blair reiterated a “market perform” rating on shares of Paychex in a research note on Thursday, June 27th. Bank of America cut shares of Paychex from a “neutral” rating to an “underperform” rating in a research note on Wednesday, June 26th. They noted that the move was a valuation call. Finally, BidaskClub upgraded shares of Paychex from a “hold” rating to a “buy” rating in a research note on Wednesday, July 31st. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target 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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