Paychex, Inc. (PAYX) VP Jennifer R. Vossler Sells 11,155 Shares of Stock
Paychex, Inc. (NASDAQ:PAYX) VP Jennifer R. Vossler sold 11,155 shares of Paychex stock in a transaction dated Friday, October 6th. The stock was sold at an average price of $63.07, for a total transaction of $703,545.85. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Shares of Paychex, Inc. (PAYX) opened at 63.71 on Wednesday. The stock has a 50 day moving average of $58.74 and a 200 day moving average of $58.22. The stock has a market cap of $22.90 billion, a PE ratio of 28.32 and a beta of 0.98. Paychex, Inc. has a 12 month low of $52.78 and a 12 month high of $64.08.
Paychex (NASDAQ:PAYX) last posted its quarterly earnings data on Tuesday, October 3rd. The business services provider reported $0.62 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.02. Paychex had a net margin of 26.01% and a return on equity of 43.01%. The business had revenue of $816.80 million during the quarter, compared to analyst estimates of $816.34 million. During the same quarter last year, the firm posted $0.60 earnings per share. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. On average, equities analysts anticipate that Paychex, Inc. will post $2.38 earnings per share for the current fiscal year.
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Several hedge funds and other institutional investors have recently bought and sold shares of PAYX. Northwest Quadrant Wealth Management LLC lifted its stake in Paychex by 0.6% in the first quarter. Northwest Quadrant Wealth Management LLC now owns 3,923 shares of the business services provider’s stock worth $228,000 after acquiring an additional 24 shares during the last quarter. Pacer Advisors Inc. lifted its stake in Paychex by 4.3% in the first quarter. Pacer Advisors Inc. now owns 10,174 shares of the business services provider’s stock worth $599,000 after acquiring an additional 417 shares during the last quarter. Shelton Capital Management lifted its stake in Paychex by 72.6% in the first quarter. Shelton Capital Management now owns 102,276 shares of the business services provider’s stock worth $6,024,000 after acquiring an additional 43,033 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Paychex by 314.1% in the first quarter. JPMorgan Chase & Co. now owns 1,001,929 shares of the business services provider’s stock worth $59,014,000 after acquiring an additional 759,973 shares during the last quarter. Finally, Burney Co. lifted its stake in Paychex by 28.9% in the first quarter. Burney Co. now owns 40,717 shares of the business services provider’s stock worth $2,398,000 after acquiring an additional 9,135 shares during the last quarter. 67.31% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts recently commented on PAYX shares. Bank of America Corporation lifted their price target on shares of Paychex from $64.00 to $68.00 and gave the stock a “buy” rating in a research note on Wednesday, October 4th. BidaskClub raised shares of Paychex from a “strong sell” rating to a “sell” rating in a research report on Monday, July 31st. William Blair cut shares of Paychex from an “outperform” rating to a “market perform” rating in a research report on Friday, July 21st. Royal Bank Of Canada reissued an “underperform” rating and issued a $57.00 price objective (up from $54.00) on shares of Paychex in a research report on Wednesday, October 4th. Finally, Morgan Stanley raised shares of Paychex from an “underweight” rating to an “equal weight” rating and set a $55.00 price objective for the company in a research report on Wednesday, August 16th. They noted that the move was a valuation call. Five investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating to the stock. Paychex presently has an average rating of “Hold” and an average target price of $60.07.
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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