Paychex, Inc. (NASDAQ:PAYX) CFO Robert L. Schrader Sells 13,015 Shares of Stock

Paychex, Inc. (NASDAQ:PAYX) CFO Robert L. Schrader sold 13,015 shares of the company’s 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 completion of the sale, the chief financial officer now directly owns 17,362 shares in the company, valued at $2,471,480.70. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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. Paychex, Inc. has a 1 year low of $106.27 and a 1 year high of $144.17. The firm’s 50-day moving average is $133.02 and its 200-day moving average is $126.01. The company has a market cap of $51.23 billion, a P/E ratio of 30.48, a PEG ratio of 3.73 and a beta of 1.00.

Paychex (NASDAQ:PAYX) last issued its earnings results on Tuesday, October 1st. The business services provider reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.02. The firm had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.31 billion. Paychex had a net margin of 31.98% and a return on equity of 45.97%. Paychex’s revenue was up 2.5% on a year-over-year basis. During the same quarter last year, the company posted $1.14 earnings per share. On average, equities analysts expect that Paychex, Inc. will post 4.98 earnings per share for the current year.

Paychex Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, November 7th will be given a $0.98 dividend. This represents a $3.92 annualized dividend and a yield of 2.75%. The ex-dividend date of this dividend is Thursday, November 7th. Paychex’s dividend payout ratio is presently 83.94%.

Hedge Funds Weigh In On Paychex

Hedge funds and other institutional investors have recently modified their holdings of the company. Meeder Asset Management Inc. grew its position in Paychex by 286.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 220 shares of the business services provider’s stock worth $26,000 after purchasing an additional 163 shares during the last quarter. ORG Partners LLC increased its position in Paychex by 227.6% in the 2nd quarter. ORG Partners LLC now owns 249 shares of the business services provider’s stock valued at $29,000 after acquiring an additional 173 shares during the period. ESL Trust Services LLC acquired a new stake in Paychex in the 1st quarter valued at approximately $31,000. Chilton Capital Management LLC acquired a new stake in Paychex in the 1st quarter valued at approximately $31,000. Finally, American National Bank increased its position in Paychex by 166.7% in the 2nd quarter. American National Bank now owns 288 shares of the business services provider’s stock valued at $34,000 after acquiring an additional 180 shares during the period. Institutional investors and hedge funds own 83.47% of the company’s stock.

Wall Street Analyst Weigh In

PAYX has been the topic of several research reports. Royal Bank of Canada increased their price target on shares of Paychex from $130.00 to $148.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 2nd. Bank of America increased their target price on Paychex from $111.00 to $113.00 and gave the stock an “underperform” rating in a research report on Thursday, June 27th. JPMorgan Chase & Co. increased their target price on shares of Paychex from $120.00 to $128.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 20th. Robert W. Baird reduced their target price on shares of Paychex from $126.00 to $124.00 and set a “neutral” rating on the stock in a research report on Thursday, June 27th. Finally, Morgan Stanley boosted their price target on Paychex from $122.00 to $133.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 2nd. Two research analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $130.77.

Paychex Company Profile

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.