Paychex, Inc. (NASDAQ:PAYX) CFO Efrain Rivera Sells 3,196 Shares

Paychex, Inc. (NASDAQ:PAYX) CFO Efrain Rivera sold 3,196 shares of Paychex stock in a transaction dated Saturday, July 6th. The stock was sold at an average price of $85.31, for a total value of $272,650.76. Following the completion of the transaction, the chief financial officer now directly owns 57,707 shares of the company’s stock, valued at approximately $4,922,984.17. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Efrain Rivera also recently made the following trade(s):

  • On Monday, July 8th, Efrain Rivera sold 6,209 shares of Paychex stock. The stock was sold at an average price of $84.87, for a total value of $526,957.83.

Shares of NASDAQ:PAYX opened at $85.33 on Friday. Paychex, Inc. has a fifty-two week low of $61.32 and a fifty-two week high of $88.43. The stock has a 50-day simple moving average of $85.66. The company has a current ratio of 1.17, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. The stock has a market cap of $30.74 billion, a price-to-earnings ratio of 30.05, a price-to-earnings-growth ratio of 3.07 and a beta of 0.87.

Paychex (NASDAQ:PAYX) last issued its earnings results on Wednesday, June 26th. The business services provider reported $0.63 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.65 by ($0.02). The business had revenue of $980.40 million during the quarter, compared to analysts’ expectations of $978.94 million. Paychex had a return on equity of 40.99% and a net margin of 27.42%. Paychex’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same period last year, the firm posted $0.61 EPS. As a group, sell-side analysts anticipate that Paychex, Inc. will post 3.09 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 22nd. Shareholders of record on Thursday, August 1st will be paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.91%. Paychex’s dividend payout ratio is currently 87.32%.

Several equities analysts have recently issued reports on the company. Credit Suisse Group raised Mosaic from an “underperform” rating to a “neutral” rating and set a $27.49 price target for the company in a research report on Thursday, March 28th. Barclays reissued a “sell” rating on shares of easyJet in a research report on Monday, April 1st. Sanford C. Bernstein lowered Encana from an “outperform” rating to a “market perform” rating in a research report on Tuesday, April 30th. Bank of America began coverage on Guangshen Railway Co. Ltd ADR Class H in a research report on Wednesday, June 26th. They issued an “underperform” rating for the company. Finally, William Blair reissued a “market perform” rating on shares of Paychex in a research report on Thursday, June 27th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $75.08.

Several institutional investors have recently added to or reduced their stakes in PAYX. Lunia Capital LP grew its stake in shares of Paychex by 8,881.0% during the 4th quarter. Lunia Capital LP now owns 10,859,007 shares of the business services provider’s stock valued at $10,859,000 after purchasing an additional 10,738,096 shares during the period. Ronna Sue Cohen grew its stake in shares of Paychex by 7,736.0% during the 1st quarter. Ronna Sue Cohen now owns 4,003,822 shares of the business services provider’s stock valued at $4,004,000 after purchasing an additional 3,952,727 shares during the period. BlackRock Inc. grew its stake in shares of Paychex by 12.3% during the 1st quarter. BlackRock Inc. now owns 31,465,698 shares of the business services provider’s stock valued at $2,523,549,000 after purchasing an additional 3,435,500 shares during the period. Norges Bank bought a new stake in shares of Paychex during the 4th quarter valued at about $191,026,000. Finally, Pennsylvania Trust Co grew its stake in shares of Paychex by 6,076.7% during the 1st quarter. Pennsylvania Trust Co now owns 1,222,308 shares of the business services provider’s stock valued at $51,110,000 after purchasing an additional 1,202,519 shares during the period. Institutional investors and hedge funds own 69.66% of the company’s stock.

Paychex Company Profile

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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Insider Buying and Selling by Quarter for Paychex (NASDAQ:PAYX)

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