Paychex, Inc. (NASDAQ:PAYX) was the target of a large decline in short interest during the month of December. As of December 29th, there was short interest totalling 10,010,780 shares, a decline of 24.3% from the December 15th total of 13,225,105 shares. Approximately 3.1% of the shares of the company are sold short. Based on an average daily volume of 1,932,474 shares, the days-to-cover ratio is presently 5.2 days.
In other Paychex news, VP Jennifer R. Vossler sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $68.29, for a total transaction of $682,900.00. Following the completion of the sale, the vice president now directly owns 31,578 shares in the company, valued at approximately $2,156,461.62. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Michael E. Gioja sold 34,311 shares of the business’s stock in a transaction that occurred on Thursday, January 4th. The stock was sold at an average price of $68.91, for a total value of $2,364,371.01. Following the sale, the insider now owns 63,374 shares of the company’s stock, valued at $4,367,102.34. The disclosure for this sale can be found here. Insiders own 11.70% of the company’s stock.
Large investors have recently added to or reduced their stakes in the business. Janus Henderson Group PLC raised its stake in shares of Paychex by 4,105.7% in the second quarter. Janus Henderson Group PLC now owns 1,830,532 shares of the business services provider’s stock valued at $104,230,000 after acquiring an additional 1,787,007 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Paychex by 2,391.8% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,362,988 shares of the business services provider’s stock valued at $77,609,000 after acquiring an additional 1,308,288 shares in the last quarter. FMR LLC raised its stake in shares of Paychex by 6.2% in the second quarter. FMR LLC now owns 10,476,188 shares of the business services provider’s stock valued at $596,514,000 after acquiring an additional 610,088 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Paychex by 2.6% in the second quarter. Vanguard Group Inc. now owns 23,043,348 shares of the business services provider’s stock valued at $1,312,089,000 after acquiring an additional 589,880 shares in the last quarter. Finally, Koch Industries Inc. raised its stake in shares of Paychex by 13,529.1% in the second quarter. Koch Industries Inc. now owns 560,975 shares of the business services provider’s stock valued at $551,000 after acquiring an additional 556,859 shares in the last quarter. Institutional investors own 67.92% of the company’s stock.
Paychex (NASDAQ:PAYX) traded down $0.43 during trading hours on Friday, reaching $66.60. The company’s stock had a trading volume of 3,198,686 shares, compared to its average volume of 2,310,636. Paychex has a one year low of $54.20 and a one year high of $73.10. The firm has a market capitalization of $23,921.79, a PE ratio of 28.58, a price-to-earnings-growth ratio of 3.58 and a beta of 0.94.
Paychex (NASDAQ:PAYX) last released its quarterly earnings results on Thursday, December 21st. The business services provider reported $0.59 EPS for the quarter, hitting analysts’ consensus estimates of $0.59. Paychex had a return on equity of 42.80% and a net margin of 26.02%. The company had revenue of $826.50 million for the quarter, compared to analysts’ expectations of $823.48 million. During the same period in the prior year, the firm earned $0.56 earnings per share. The firm’s revenue was up 7.1% compared to the same quarter last year. equities research analysts predict that Paychex will post 2.39 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Thursday, February 1st will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date is Wednesday, January 31st. Paychex’s dividend payout ratio (DPR) is 85.84%.
Several equities research analysts have commented on the company. BMO Capital Markets restated a “hold” rating and issued a $70.00 price target on shares of Paychex in a research report on Wednesday, January 24th. BidaskClub lowered Paychex from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 22nd. Bank of America lowered Paychex from a “buy” rating to a “neutral” rating and set a $73.00 price objective for the company. in a research report on Tuesday, January 9th. Stifel Nicolaus reiterated a “hold” rating and issued a $68.00 price objective on shares of Paychex in a research report on Friday, December 22nd. Finally, Citigroup upgraded Paychex from a “sell” rating to a “neutral” rating and set a $67.00 price objective for the company in a research report on Monday, December 4th. Two research analysts have rated the stock with a sell rating and twelve have assigned a hold rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $62.77.
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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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