Paychex, Inc. (NASDAQ:PAYX) CFO Sells $526,957.83 in Stock

Paychex, Inc. (NASDAQ:PAYX) CFO Efrain Rivera sold 6,209 shares of Paychex stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $84.87, for a total transaction of $526,957.83. Following the transaction, the chief financial officer now directly owns 57,707 shares in the company, valued at approximately $4,897,593.09. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Efrain Rivera also recently made the following trade(s):

  • On Saturday, July 6th, Efrain Rivera sold 3,196 shares of Paychex stock. The stock was sold at an average price of $85.31, for a total transaction of $272,650.76.

Shares of PAYX opened at $85.33 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.17. Paychex, Inc. has a twelve month low of $61.32 and a twelve month high of $88.43. The firm has a 50 day moving average of $85.66. The company has a market capitalization of $30.74 billion, a price-to-earnings ratio of 30.05, a P/E/G ratio of 3.07 and a beta of 0.87.

Paychex (NASDAQ:PAYX) last announced its quarterly earnings data on Wednesday, June 26th. The business services provider reported $0.63 EPS for the quarter, missing the Zacks’ consensus estimate of $0.65 by ($0.02). The business had revenue of $980.40 million during the quarter, compared to the consensus estimate of $978.94 million. Paychex had a return on equity of 40.99% and a net margin of 27.42%. The business’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.61 EPS. As a group, research analysts forecast that Paychex, Inc. will post 3.09 EPS for the current 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 given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.91%. Paychex’s dividend payout ratio is presently 87.32%.

Several research analysts recently weighed in on the stock. Barclays reissued a “sell” rating on shares of easyJet in a research note on Monday, April 1st. 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 note on Thursday, March 28th. Sanford C. Bernstein lowered shares of Encana from an “outperform” rating to a “market perform” rating in a research note on Tuesday, April 30th. Bank of America began coverage on shares of Guangshen Railway Co. Ltd ADR Class H in a research note on Wednesday, June 26th. They issued an “underperform” rating on the stock. Finally, William Blair reaffirmed a “market perform” rating on shares of Paychex in a research note on Thursday, June 27th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and one has issued a buy rating to the company. Paychex presently has a consensus rating of “Hold” and a consensus target price of $75.08.

Hedge funds have recently made changes to their positions in the company. M Holdings Securities Inc. bought a new stake in shares of Paychex in the first quarter worth $214,000. Exeter Financial LLC lifted its position in shares of Paychex by 1.0% in the first quarter. Exeter Financial LLC now owns 12,805 shares of the business services provider’s stock worth $1,027,000 after purchasing an additional 128 shares in the last quarter. Northeast Financial Consultants Inc bought a new stake in shares of Paychex in the first quarter worth $694,000. Aurora Investment Counsel bought a new stake in shares of Paychex in the fourth quarter worth $1,963,000. Finally, Envestnet Asset Management Inc. lifted its position in shares of Paychex by 16.6% in the first quarter. Envestnet Asset Management Inc. now owns 273,029 shares of the business services provider’s stock worth $21,897,000 after purchasing an additional 38,873 shares in the last quarter. 69.66% of the stock is currently owned by institutional investors and hedge funds.

About Paychex

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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