Michael E. Gioja Sells 17,881 Shares of Paychex, Inc. (NASDAQ:PAYX) Stock

Paychex, Inc. (NASDAQ:PAYX) VP Michael E. Gioja sold 17,881 shares of the firm’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $85.81, for a total transaction of $1,534,368.61. Following the completion of the sale, the vice president now owns 70,023 shares in the company, valued at approximately $6,008,673.63. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Shares of PAYX stock traded up $1.01 during trading hours on Monday, hitting $86.28. 73,721 shares of the company’s stock traded hands, compared to its average volume of 1,394,261. The stock’s 50 day simple moving average is $85.08 and its 200 day simple moving average is $83.88. The stock has a market cap of $30.52 billion, a PE ratio of 30.37, a price-to-earnings-growth ratio of 3.92 and a beta of 0.87. Paychex, Inc. has a 12 month low of $66.60 and a 12 month high of $88.43. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.35.

Paychex (NASDAQ:PAYX) last released its quarterly earnings results on Wednesday, December 18th. The business services provider reported $0.70 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.02. The firm had revenue of $990.70 million during the quarter, compared to the consensus estimate of $988.26 million. Paychex had a net margin of 26.72% and a return on equity of 41.21%. The company’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.65 earnings per share. As a group, equities research analysts expect that Paychex, Inc. will post 3.11 EPS for the current fiscal year.

PAYX has been the topic of a number of research analyst reports. Robert W. Baird raised their target price on shares of Paychex from $83.00 to $87.00 and gave the company a “neutral” rating in a research report on Thursday, December 19th. Argus restated a “buy” rating and issued a $92.00 target price on shares of Paychex in a research report on Thursday, October 3rd. Jefferies Financial Group restated a “hold” rating and issued a $84.00 target price on shares of Paychex in a research report on Wednesday, December 18th. BidaskClub lowered shares of Paychex from a “sell” rating to a “strong sell” rating in a research report on Friday, December 27th. Finally, Barclays raised their target price on shares of Paychex from $80.00 to $84.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Four research analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company. Paychex presently has a consensus rating of “Hold” and an average price target of $82.71.

Hedge funds have recently added to or reduced their stakes in the company. Quantum Capital Management bought a new position in shares of Paychex during the third quarter valued at $26,000. Vigilant Capital Management LLC bought a new position in shares of Paychex during the third quarter valued at $27,000. Cornerstone Advisors Inc. raised its stake in shares of Paychex by 91.9% during the third quarter. Cornerstone Advisors Inc. now owns 330 shares of the business services provider’s stock valued at $27,000 after acquiring an additional 158 shares during the last quarter. Benjamin Edwards Inc. raised its stake in shares of Paychex by 58.2% during the third quarter. Benjamin Edwards Inc. now owns 348 shares of the business services provider’s stock valued at $29,000 after acquiring an additional 128 shares during the last quarter. Finally, Stonebridge Capital Advisors LLC bought a new position in shares of Paychex during the second quarter valued at $32,000. 69.31% of the stock is owned by hedge funds and other institutional investors.

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

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