Paychex Sees Unusually High Options Volume (PAYX)
Paychex, Inc. (NASDAQ:PAYX) saw unusually large options trading on Monday. Stock traders acquired 5,490 call options on the company. This is an increase of approximately 642% compared to the average volume of 740 call options.
Shares of Paychex (PAYX) opened at $68.41 on Thursday. The stock has a market capitalization of $24,294.25, a price-to-earnings ratio of 29.78, a P/E/G ratio of 3.66 and a beta of 0.99. Paychex has a 1-year low of $54.20 and a 1-year high of $68.67.
Paychex (NASDAQ:PAYX) last posted its quarterly earnings data on Tuesday, October 3rd. The business services provider reported $0.62 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.02. The firm had revenue of $816.80 million for the quarter, compared to the consensus estimate of $816.34 million. Paychex had a return on equity of 43.01% and a net margin of 26.01%. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.60 EPS. analysts expect that Paychex will post 2.38 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 15th. Investors of record on Wednesday, November 1st were issued a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, October 31st. This represents a $2.00 annualized dividend and a dividend yield of 2.92%. Paychex’s dividend payout ratio is presently 87.34%.
Several equities analysts have recently commented on the company. Bank of America upped their price target on Paychex from $68.00 to $73.00 and gave the company a “buy” rating in a research note on Tuesday. Citigroup raised Paychex from a “sell” rating to a “neutral” rating and set a $67.00 price target on the stock in a research note on Monday. Royal Bank Of Canada reaffirmed a “sell” rating and issued a $57.00 price target on shares of Paychex in a research note on Wednesday, November 15th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $59.00 price target (up previously from $55.00) on shares of Paychex in a research note on Wednesday, October 4th. Finally, Wells Fargo & Company upped their price target on Paychex from $58.00 to $60.00 and gave the company a “market perform” rating in a research note on Wednesday, October 4th. Four research analysts have rated the stock with a sell rating, thirteen have given a hold rating and two have given a buy rating to the company. Paychex currently has a consensus rating of “Hold” and an average price target of $61.19.
In other Paychex news, VP Jennifer R. Vossler sold 11,155 shares of the business’s stock in a transaction on Friday, October 6th. The stock was sold at an average price of $63.07, for a total transaction of $703,545.85. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Laurie L. Zaucha sold 15,000 shares of the business’s stock in a transaction on Tuesday, October 3rd. The stock was sold at an average price of $62.00, for a total value of $930,000.00. The disclosure for this sale can be found here. Insiders have sold 94,395 shares of company stock worth $5,914,383 in the last three months. 11.70% of the stock is currently owned by corporate insiders.
Hedge funds have recently bought and sold shares of the stock. Salem Investment Counselors Inc. raised its holdings in shares of Paychex by 0.6% in the 2nd quarter. Salem Investment Counselors Inc. now owns 1,796 shares of the business services provider’s stock valued at $102,000 after buying an additional 11 shares during the period. Dupont Capital Management Corp purchased a new stake in shares of Paychex in the 2nd quarter valued at $129,000. Sun Life Financial INC raised its holdings in shares of Paychex by 23,260.0% in the 2nd quarter. Sun Life Financial INC now owns 2,336 shares of the business services provider’s stock valued at $133,000 after buying an additional 2,326 shares during the period. San Francisco Sentry Investment Group CA purchased a new stake in shares of Paychex in the 2nd quarter valued at $145,000. Finally, Bank of Nova Scotia Trust Co. purchased a new stake in shares of Paychex in the 3rd quarter valued at $188,000. Hedge funds and other institutional investors own 68.02% of the company’s stock.
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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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