Insider Selling: Paychex, Inc. (NASDAQ:PAYX) Insider Sells $92,164.06 in Stock

Paychex, Inc. (NASDAQ:PAYX) insider Stephanie L. Schaeffer sold 818 shares of the firm’s stock in a transaction dated Thursday, July 15th. The stock was sold at an average price of $112.67, for a total transaction of $92,164.06. Following the completion of the transaction, the insider now owns 64,701 shares of the company’s stock, valued at $7,289,861.67. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Shares of PAYX opened at $111.39 on Thursday. The company has a market capitalization of $40.14 billion, a price-to-earnings ratio of 36.64, a PEG ratio of 4.04 and a beta of 0.90. The company’s 50 day simple moving average is $104.99. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.24 and a current ratio of 1.25. Paychex, Inc. has a twelve month low of $70.38 and a twelve month high of $113.11.

Paychex (NASDAQ:PAYX) last issued its quarterly earnings data on Thursday, June 24th. The business services provider reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.05. The firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $980.02 million. Paychex had a net margin of 27.05% and a return on equity of 38.04%. The company’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.61 earnings per share. As a group, research analysts expect that Paychex, Inc. will post 3.38 EPS for the current year.

Paychex declared that its Board of Directors has authorized a stock repurchase plan on Thursday, July 8th that allows the company to buyback $400.00 million in outstanding shares. This buyback authorization allows the business services provider to buy up to 1% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 26th. Investors of record on Monday, August 2nd will be given a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a yield of 2.37%. The ex-dividend date of this dividend is Friday, July 30th. Paychex’s payout ratio is presently 86.84%.

Large investors have recently added to or reduced their stakes in the company. Prentice Wealth Management LLC bought a new position in shares of Paychex in the first quarter valued at approximately $25,000. Reby Advisors LLC bought a new position in shares of Paychex in the fourth quarter valued at approximately $28,000. Sound Income Strategies LLC raised its position in shares of Paychex by 820.0% in the second quarter. Sound Income Strategies LLC now owns 322 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 287 shares during the period. Pflug Koory LLC bought a new position in shares of Paychex in the second quarter valued at approximately $35,000. Finally, Concord Wealth Partners bought a new position in shares of Paychex in the first quarter valued at approximately $33,000. 69.79% of the stock is currently owned by institutional investors.

PAYX has been the subject of several recent analyst reports. raised their target price on shares of Paychex from $105.00 to $121.00 and gave the stock a “buy” rating in a report on Wednesday, June 30th. Robert W. Baird raised their target price on shares of Paychex from $82.00 to $94.00 and gave the stock an “outperform” rating in a report on Wednesday, April 7th. The Goldman Sachs Group raised their target price on shares of Paychex from $85.00 to $89.00 and gave the stock a “sell” rating in a report on Wednesday, April 7th. Jefferies Financial Group raised their target price on shares of Paychex from $95.00 to $115.00 and gave the stock a “hold” rating in a report on Friday, June 25th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Paychex from $98.00 to $103.00 and gave the stock a “hold” rating in a report on Monday, June 28th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company. Paychex currently has an average rating of “Hold” and a consensus target price of $103.35.

About Paychex

Paychex, Inc provides integrated human capital management solutions for human resources (HR), payroll, benefits, 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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