Paychex, Inc. (PAYX) To Go Ex-Dividend on October 30th

Paychex, Inc. (NASDAQ:PAYX) announced a quarterly dividend on Thursday, October 15th, RTT News reports. Investors of record on Monday, November 2nd will be given a dividend of 0.62 per share by the business services provider on Tuesday, November 24th. This represents a $2.48 annualized dividend and a yield of 2.96%. The ex-dividend date is Friday, October 30th.

Paychex has increased its dividend payment by 37.5% over the last three years and has raised its dividend annually for the last 6 consecutive years.

PAYX opened at $83.73 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.23 and a quick ratio of 1.23. The company’s 50 day simple moving average is $78.43 and its two-hundred day simple moving average is $72.73. Paychex has a 1-year low of $47.87 and a 1-year high of $90.54. The firm has a market capitalization of $30.10 billion, a price-to-earnings ratio of 27.54, a price-to-earnings-growth ratio of 3.41 and a beta of 0.92.

Paychex (NASDAQ:PAYX) last released its earnings results on Sunday, October 11th. The business services provider reported $0.63 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.08. Paychex had a net margin of 27.18% and a return on equity of 40.76%. The business had revenue of $932.20 million for the quarter, compared to analyst estimates of $888.27 million. During the same period last year, the company posted $0.71 EPS. The business’s revenue was down 6.0% on a year-over-year basis. On average, equities analysts anticipate that Paychex will post 2.75 earnings per share for the current fiscal year.

In other Paychex news, insider Stephanie L. Schaeffer sold 63,000 shares of the business’s stock in a transaction that occurred on Thursday, October 8th. The stock was sold at an average price of $81.94, for a total value of $5,162,220.00. Following the sale, the insider now owns 127,162 shares of the company’s stock, valued at $10,419,654.28. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP John B. Gibson sold 14,227 shares of the business’s stock in a transaction that occurred on Thursday, October 8th. The shares were sold at an average price of $82.18, for a total value of $1,169,174.86. 11.70% of the stock is owned by insiders.

A number of research analysts have weighed in on PAYX shares. BidaskClub raised shares of Paychex from a “hold” rating to a “buy” rating in a research note on Saturday, September 19th. Goldman Sachs Group started coverage on shares of Paychex in a research note on Tuesday, July 14th. They issued a “sell” rating and a $64.00 target price on the stock. BMO Capital Markets raised their target price on shares of Paychex from $74.00 to $82.00 in a research note on Wednesday, October 7th. Citigroup raised shares of Paychex from a “neutral” rating to a “buy” rating and lifted their price target for the company from $75.00 to $93.00 in a research report on Thursday, October 8th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Paychex from $72.00 to $78.00 and gave the company an “underweight” rating in a research report on Monday, August 17th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $75.92.

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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Dividend History for Paychex (NASDAQ:PAYX)

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