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.
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.
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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