Paychex, Inc. (NASDAQ:PAYX - Get Free Report) Director Joseph M. Velli sold 3,650 shares of Paychex stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $149.25, for a total transaction of $544,762.50. Following the completion of the transaction, the director now directly owns 78,455 shares of the company's stock, valued at $11,709,408.75. This trade represents a 4.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Paychex Trading Down 1.4 %
Shares of NASDAQ:PAYX opened at $145.57 on Thursday. Paychex, Inc. has a twelve month low of $115.40 and a twelve month high of $158.37. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.20. The firm has a market cap of $52.43 billion, a P/E ratio of 30.65, a P/E/G ratio of 4.10 and a beta of 0.88. The company has a 50 day moving average of $148.01 and a 200-day moving average of $144.52.
Paychex (NASDAQ:PAYX - Get Free Report) last issued its quarterly earnings results on Wednesday, March 26th. The business services provider reported $1.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.48 by $0.01. Paychex had a return on equity of 45.28% and a net margin of 32.02%. The firm had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.51 billion. During the same period last year, the company posted $1.38 EPS. The firm's quarterly revenue was up 4.8% on a year-over-year basis. As a group, analysts anticipate that Paychex, Inc. will post 4.99 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the company. Monument Capital Management boosted its position in shares of Paychex by 4.4% during the 4th quarter. Monument Capital Management now owns 1,714 shares of the business services provider's stock valued at $240,000 after purchasing an additional 72 shares in the last quarter. Mutual Advisors LLC lifted its stake in Paychex by 2.6% during the fourth quarter. Mutual Advisors LLC now owns 2,881 shares of the business services provider's stock valued at $423,000 after purchasing an additional 73 shares during the last quarter. Emerald Advisors LLC boosted its holdings in Paychex by 2.5% during the fourth quarter. Emerald Advisors LLC now owns 3,017 shares of the business services provider's stock worth $423,000 after buying an additional 74 shares in the last quarter. Weaver Capital Management LLC grew its position in Paychex by 3.7% in the fourth quarter. Weaver Capital Management LLC now owns 2,121 shares of the business services provider's stock worth $297,000 after buying an additional 75 shares during the last quarter. Finally, Adero Partners LLC increased its holdings in shares of Paychex by 3.2% in the fourth quarter. Adero Partners LLC now owns 2,391 shares of the business services provider's stock valued at $335,000 after buying an additional 75 shares in the last quarter. 83.47% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of brokerages have commented on PAYX. UBS Group lifted their target price on Paychex from $152.00 to $155.00 and gave the company a "neutral" rating in a research note on Tuesday, March 4th. Royal Bank of Canada restated a "sector perform" rating and set a $148.00 price objective on shares of Paychex in a research report on Friday, December 20th. Morgan Stanley increased their target price on Paychex from $137.00 to $142.00 and gave the stock an "equal weight" rating in a research report on Thursday, March 27th. Citigroup boosted their price target on shares of Paychex from $145.00 to $158.00 and gave the company a "neutral" rating in a report on Thursday, March 27th. Finally, Barclays increased their price objective on shares of Paychex from $140.00 to $155.00 and gave the stock an "equal weight" rating in a report on Monday, March 31st. Two investment analysts have rated the stock with a sell rating and ten have given a hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $141.00.
Read Our Latest Stock Report on PAYX
Paychex Company Profile
(
Get Free Report)
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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