Paychex, Inc. (NASDAQ:PAYX) VP Jennifer R. Vossler sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $80.54, for a total value of $805,400.00. Following the transaction, the vice president now directly owns 31,701 shares in the company, valued at $2,553,198.54. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Shares of Paychex stock opened at $80.75 on Wednesday. The company has a market capitalization of $28.99 billion, a PE ratio of 31.67, a P/E/G ratio of 3.14 and a beta of 1.04. Paychex, Inc. has a 52 week low of $59.55 and a 52 week high of $81.59. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.11 and a quick ratio of 1.11.

Paychex (NASDAQ:PAYX) last issued its quarterly earnings data on Wednesday, March 27th. The business services provider reported $0.89 EPS for the quarter, hitting the consensus estimate of $0.89. The firm had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.07 billion. Paychex had a return on equity of 43.20% and a net margin of 28.19%. The company’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.63 earnings per share. On average, equities research analysts predict that Paychex, Inc. will post 2.86 earnings per share for the current fiscal year.

PAYX has been the topic of a number of research reports. Bank of America raised Paychex from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $64.00 to $68.00 in a research note on Tuesday, January 8th. They noted that the move was a valuation call. BMO Capital Markets reaffirmed a “market perform” rating on shares of Paychex in a research note on Thursday, December 20th. Credit Suisse Group upped their price target on Paychex from $82.00 to $84.00 and gave the stock an “outperform” rating in a research note on Thursday, March 28th. Finally, Barclays upped their price target on Paychex from $78.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Monday, April 1st. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. Paychex presently has a consensus rating of “Hold” and a consensus target price of $74.14.

Several institutional investors have recently modified their holdings of PAYX. Bank of New York Mellon Corp raised its stake in shares of Paychex by 1,614,724.4% in the third quarter. Bank of New York Mellon Corp now owns 8,477,828 shares of the business services provider’s stock worth $624,389,000 after purchasing an additional 8,477,303 shares during the last quarter. Martingale Asset Management L P increased its position in shares of Paychex by 823.5% during the third quarter. Martingale Asset Management L P now owns 224,744 shares of the business services provider’s stock valued at $16,553,000 after acquiring an additional 200,408 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Paychex by 12.4% during the third quarter. Dimensional Fund Advisors LP now owns 1,122,574 shares of the business services provider’s stock valued at $82,676,000 after acquiring an additional 123,619 shares during the last quarter. Franklin Resources Inc. increased its position in shares of Paychex by 33.9% during the third quarter. Franklin Resources Inc. now owns 90,731 shares of the business services provider’s stock valued at $6,683,000 after acquiring an additional 22,980 shares during the last quarter. Finally, Loomis Sayles & Co. L P purchased a new stake in shares of Paychex during the third quarter valued at approximately $389,000. 68.64% of the stock is owned by hedge funds and other institutional investors.

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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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