Paychex, Inc. (NASDAQ:PAYX) CEO Martin Mucci Sells 31,865 Shares

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Paychex, Inc. (NASDAQ:PAYX) CEO Martin Mucci sold 31,865 shares of the stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $84.86, for a total transaction of $2,704,063.90. Following the sale, the chief executive officer now owns 362,806 shares in the company, valued at approximately $30,787,717.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Shares of PAYX stock opened at $84.25 on Friday. Paychex, Inc. has a 12-month low of $61.32 and a 12-month high of $88.43. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.35. The firm’s 50 day moving average is $82.76 and its 200 day moving average is $83.77. The stock has a market capitalization of $30.33 billion, a P/E ratio of 29.66, a P/E/G ratio of 3.03 and a beta of 0.90.

Paychex (NASDAQ:PAYX) last issued its earnings results on Wednesday, October 2nd. The business services provider reported $0.71 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.02. Paychex had a net margin of 27.04% and a return on equity of 41.07%. The company had revenue of $992.00 million for the quarter, compared to analysts’ expectations of $991.70 million. During the same quarter last year, the company posted $0.67 earnings per share. The firm’s quarterly revenue was up 15.0% on a year-over-year basis. As a group, equities analysts predict that Paychex, Inc. will post 3.11 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Friday, November 1st will be issued a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 2.94%. The ex-dividend date of this dividend is Thursday, October 31st. Paychex’s dividend payout ratio is currently 87.32%.

A number of equities research analysts have recently commented on the stock. ValuEngine cut shares of Paychex from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. William Blair reiterated a “market perform” rating on shares of Paychex in a report on Thursday, June 27th. Barclays increased their price target on shares of Paychex from $80.00 to $84.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. BidaskClub cut shares of Paychex from a “buy” rating to a “hold” rating in a report on Saturday, August 24th. Finally, Bank of America cut shares of Paychex from a “neutral” rating to an “underperform” rating in a report on Wednesday, June 26th. They noted that the move was a valuation call. Three analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $79.33.

Hedge funds have recently modified their holdings of the stock. Enterprise Financial Services Corp boosted its stake in shares of Paychex by 21.1% during the 2nd quarter. Enterprise Financial Services Corp now owns 723 shares of the business services provider’s stock worth $59,000 after acquiring an additional 126 shares during the last quarter. Greenleaf Trust boosted its stake in shares of Paychex by 3.8% during the 2nd quarter. Greenleaf Trust now owns 3,636 shares of the business services provider’s stock worth $299,000 after acquiring an additional 134 shares during the last quarter. Rockland Trust Co. boosted its stake in shares of Paychex by 2.6% during the 2nd quarter. Rockland Trust Co. now owns 5,497 shares of the business services provider’s stock worth $452,000 after acquiring an additional 138 shares during the last quarter. Advisor Partners LLC boosted its stake in shares of Paychex by 1.6% during the 2nd quarter. Advisor Partners LLC now owns 8,774 shares of the business services provider’s stock worth $722,000 after acquiring an additional 140 shares during the last quarter. Finally, Geneva Partners LLC boosted its stake in shares of Paychex by 1.8% during the 2nd quarter. Geneva Partners LLC now owns 8,530 shares of the business services provider’s stock worth $702,000 after acquiring an additional 150 shares during the last quarter. Institutional investors own 69.87% of the company’s stock.

About Paychex

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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