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.
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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