Paychex Inc. (NASDAQ:PAYX) declared a quarterly dividend on Wednesday, October 12th. Investors of record on Tuesday, November 1st will be given a dividend of 0.46 per share on Tuesday, November 22nd. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.28%.
Paychex (NASDAQ:PAYX) opened at 56.03 on Wednesday. The company’s 50 day moving average is $59.18 and its 200-day moving average is $56.69. The company has a market capitalization of $20.26 billion, a price-to-earnings ratio of 26.55 and a beta of 0.87. Paychex has a 52-week low of $45.76 and a 52-week high of $61.87.
Paychex (NASDAQ:PAYX) last posted its earnings results on Wednesday, September 28th. The company reported $0.60 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.03. The business had revenue of $785.50 million for the quarter, compared to analysts’ expectations of $782.80 million. Paychex had a net margin of 25.38% and a return on equity of 40.10%. The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.52 EPS. Equities analysts anticipate that Paychex will post $2.22 EPS for the current fiscal year.
In other Paychex news, VP Jennifer R. Vossler sold 12,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 14th. The shares were sold at an average price of $61.05, for a total transaction of $732,600.00. Following the sale, the vice president now owns 41,359 shares in the company, valued at approximately $2,524,966.95. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP John B. Gibson sold 11,450 shares of the firm’s stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $59.00, for a total transaction of $675,550.00. Following the sale, the vice president now owns 21,451 shares in the company, valued at approximately $1,265,609. The disclosure for this sale can be found here. Company insiders own 11.60% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in PAYX. Advisor Partners LLC raised its stake in shares of Paychex by 1.4% in the second quarter. Advisor Partners LLC now owns 3,996 shares of the company’s stock worth $238,000 after buying an additional 54 shares during the period. Redmond Asset Management LLC raised its stake in shares of Paychex by 0.6% in the second quarter. Redmond Asset Management LLC now owns 10,409 shares of the company’s stock worth $619,000 after buying an additional 60 shares during the period. Eubel Brady & Suttman Asset Management Inc. raised its stake in shares of Paychex by 0.8% in the second quarter. Eubel Brady & Suttman Asset Management Inc. now owns 8,060 shares of the company’s stock worth $480,000 after buying an additional 64 shares during the period. Shoker Investment Counsel Inc. raised its stake in shares of Paychex by 0.4% in the second quarter. Shoker Investment Counsel Inc. now owns 23,065 shares of the company’s stock worth $1,372,000 after buying an additional 85 shares during the period. Finally, Loomis Sayles & Co. L P raised its stake in shares of Paychex by 3.0% in the second quarter. Loomis Sayles & Co. L P now owns 3,312 shares of the company’s stock worth $197,000 after buying an additional 95 shares during the period. Institutional investors own 69.33% of the company’s stock.
Several equities analysts have issued reports on the stock. Wedbush assumed coverage on shares of Paychex in a research note on Thursday, September 8th. They set a “neutral” rating and a $65.00 target price on the stock. Jefferies Group restated an “underperform” rating and set a $40.00 target price on shares of Paychex in a research note on Tuesday, July 5th. BMO Capital Markets restated a “market perform” rating and set a $58.00 target price (up previously from $55.00) on shares of Paychex in a research note on Tuesday, July 5th. Zacks Investment Research upgraded shares of Paychex from a “sell” rating to a “hold” rating in a research note on Tuesday, September 6th. Finally, Deutsche Bank AG restated a “hold” rating and set a $56.00 target price (up previously from $51.00) on shares of Paychex in a research note on Wednesday, July 6th. Seven investment analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $54.00.
Paychex Company Profile
Paychex, Inc is a provider of integrated human capital management (HCM) solutions for payroll, human resource (HR), retirement and insurance services for small- to medium-sized businesses in the United States. The Company also has operations in Germany. The Company offers services, including Payroll processing, Human Resource Services, and Accounting and Financial Services.
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