Traders Buy Large Volume of Call Options on Paychex (PAYX)

Paychex, Inc. (NASDAQ:PAYX) saw unusually large options trading on Tuesday. Investors purchased 8,805 call options on the stock. This represents an increase of 1,481% compared to the average daily volume of 557 call options.

Paychex (PAYX) opened at 61.10 on Friday. The company’s 50 day moving average price is $58.72 and its 200-day moving average price is $59.91. The company has a market capitalization of $21.95 billion, a P/E ratio of 27.77 and a beta of 0.96. Paychex has a 12-month low of $52.78 and a 12-month high of $63.03.

Paychex (NASDAQ:PAYX) last issued its quarterly earnings data on Wednesday, March 29th. The business services provider reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.01. The firm had revenue of $795.80 million during the quarter, compared to analyst estimates of $799.08 million. Paychex had a return on equity of 42.04% and a net margin of 25.75%. The company’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.50 EPS. Equities analysts forecast that Paychex will post $2.23 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 25th. Shareholders of record on Wednesday, May 10th were issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date of this dividend was Monday, May 8th. Paychex’s dividend payout ratio is currently 85.58%.

In other Paychex news, Director Grant M. Inman sold 10,654 shares of the stock in a transaction dated Wednesday, May 10th. The stock was sold at an average price of $57.75, for a total value of $615,268.50. Following the completion of the sale, the director now directly owns 32,514 shares in the company, valued at $1,877,683.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Jennifer R. Vossler sold 10,000 shares of the stock in a transaction dated Friday, May 5th. The stock was sold at an average price of $58.76, for a total value of $587,600.00. Following the completion of the sale, the vice president now owns 33,483 shares of the company’s stock, valued at $1,967,461.08. The disclosure for this sale can be found here. Insiders sold 64,654 shares of company stock valued at $3,827,829 over the last 90 days. Corporate insiders own 11.60% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Commerzbank Aktiengesellschaft FI raised its stake in shares of Paychex by 19.0% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 44,715 shares of the business services provider’s stock worth $2,722,000 after buying an additional 7,153 shares in the last quarter. Bessemer Group Inc. raised its stake in shares of Paychex by 13.8% in the fourth quarter. Bessemer Group Inc. now owns 34,455 shares of the business services provider’s stock worth $2,098,000 after buying an additional 4,191 shares in the last quarter. RFG Advisory Group LLC raised its stake in shares of Paychex by 0.4% in the fourth quarter. RFG Advisory Group LLC now owns 9,181 shares of the business services provider’s stock worth $524,000 after buying an additional 34 shares in the last quarter. LFL Advisers LLC bought a new stake in shares of Paychex during the fourth quarter worth approximately $5,388,000. Finally, ING Groep NV raised its stake in shares of Paychex by 585.3% in the fourth quarter. ING Groep NV now owns 84,193 shares of the business services provider’s stock worth $5,169,000 after buying an additional 71,908 shares in the last quarter. 68.51% of the stock is owned by hedge funds and other institutional investors.

Several equities research analysts have issued reports on PAYX shares. Jefferies Group LLC restated a “sell” rating and issued a $50.00 price target on shares of Paychex in a report on Tuesday, March 21st. BMO Capital Markets decreased their price objective on Paychex from $61.00 to $60.00 and set a “market perform” rating for the company in a report on Thursday, March 30th. Finally, Wedbush reiterated a “neutral” rating and set a $61.25 price objective (down from $65.00) on shares of Paychex in a report on Tuesday, June 6th. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $58.85.

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Paychex Company Profile

Paychex, Inc is a provider of integrated human capital management (HCM) solutions for payroll, human resource (HR), retirement and insurance services for small- to medium-sized businesses in the United States. The Company also has operations in Germany. The Company offers services, including Payroll processing, Human Resource Services, and Accounting and Financial Services.

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