Paychex, Inc. (NASDAQ:PAYX - Get Free Report) CFO Robert L. Schrader sold 13,015 shares of the stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $142.35, for a total value of $1,852,685.25. Following the transaction, the chief financial officer now directly owns 17,362 shares of the company's stock, valued at approximately $2,471,480.70. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Paychex Trading Up 0.0 %
Paychex stock opened at $142.32 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.38 and a current ratio of 1.38. The business's 50-day simple moving average is $133.02 and its 200-day simple moving average is $126.01. The firm has a market capitalization of $51.23 billion, a PE ratio of 30.48, a PEG ratio of 3.73 and a beta of 1.00. Paychex, Inc. has a 52 week low of $106.27 and a 52 week high of $144.17.
Paychex (NASDAQ:PAYX - Get Free Report) last posted its quarterly earnings data on Tuesday, October 1st. The business services provider reported $1.16 EPS for the quarter, topping analysts' consensus estimates of $1.14 by $0.02. Paychex had a return on equity of 45.97% and a net margin of 31.98%. The business had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same period in the previous year, the company posted $1.14 earnings per share. The firm's revenue for the quarter was up 2.5% on a year-over-year basis. Equities research analysts forecast that Paychex, Inc. will post 4.98 earnings per share for the current year.
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The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, November 7th will be given a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date is Thursday, November 7th. Paychex's dividend payout ratio (DPR) is presently 83.94%.
Institutional Investors Weigh In On Paychex
A number of institutional investors have recently added to or reduced their stakes in PAYX. Vanguard Group Inc. boosted its holdings in Paychex by 0.4% during the first quarter. Vanguard Group Inc. now owns 30,541,306 shares of the business services provider's stock valued at $3,750,472,000 after purchasing an additional 123,268 shares in the last quarter. Capital International Investors raised its stake in shares of Paychex by 12.8% in the first quarter. Capital International Investors now owns 20,878,283 shares of the business services provider's stock worth $2,563,853,000 after acquiring an additional 2,373,894 shares during the last quarter. Capital World Investors lifted its position in shares of Paychex by 155.6% during the first quarter. Capital World Investors now owns 2,478,325 shares of the business services provider's stock worth $304,338,000 after purchasing an additional 1,508,681 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Paychex by 19.5% during the second quarter. Dimensional Fund Advisors LP now owns 2,356,262 shares of the business services provider's stock worth $279,351,000 after purchasing an additional 384,184 shares in the last quarter. Finally, TD Asset Management Inc raised its position in Paychex by 57.2% in the 1st quarter. TD Asset Management Inc now owns 2,179,930 shares of the business services provider's stock worth $267,695,000 after purchasing an additional 793,468 shares during the last quarter. 83.47% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of equities analysts have issued reports on PAYX shares. Robert W. Baird decreased their price target on Paychex from $126.00 to $124.00 and set a "neutral" rating for the company in a research note on Thursday, June 27th. TD Cowen raised their price objective on Paychex from $126.00 to $131.00 and gave the stock a "hold" rating in a research note on Wednesday, October 2nd. Citigroup raised their target price on Paychex from $125.00 to $145.00 and gave the stock a "neutral" rating in a research report on Wednesday, September 25th. JPMorgan Chase & Co. raised their target price on Paychex from $120.00 to $128.00 and gave the stock an "underweight" rating in a research report on Tuesday, August 20th. Finally, Jefferies Financial Group increased their price objective on Paychex from $120.00 to $130.00 and gave the stock a "hold" rating in a report on Wednesday, October 2nd. Two research analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $130.77.
Check Out Our Latest Stock Report on PAYX
About Paychex
(
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Paychex, Inc, together with its subsidiaries, provides integrated human capital management solutions (HCM) for payroll, benefits, human resources (HR), and insurance services for small to medium-sized businesses in the United States, Europe, and India. It 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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