Paychex Sees Unusually Large Options Volume (PAYX)

Paychex, Inc. (NASDAQ:PAYX) was the target of unusually large options trading on Monday. Traders bought 5,490 call options on the company. This represents an increase of approximately 642% compared to the typical daily volume of 740 call options.

A number of analysts have recently commented on the company. Stifel Nicolaus reiterated a “hold” rating and set a $61.00 target price on shares of Paychex in a research report on Friday, August 18th. BidaskClub raised Paychex from a “buy” rating to a “strong-buy” rating in a report on Thursday. Bank of America raised their price target on Paychex from $68.00 to $73.00 and gave the stock a “buy” rating in a report 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 report on Monday, December 4th. Finally, BMO Capital Markets reissued a “market perform” rating and set a $62.00 price target (up previously from $60.00) on shares of Paychex in a report on Wednesday, October 4th. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $61.19.

In other news, VP Laurie L. Zaucha sold 17,354 shares of Paychex stock in a transaction dated Tuesday, October 10th. The stock was sold at an average price of $64.00, for a total transaction of $1,110,656.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP John B. Gibson sold 6,000 shares of Paychex stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $63.70, for a total value of $382,200.00. Following the sale, the vice president now owns 21,758 shares in the company, valued at approximately $1,385,984.60. 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 quarter. Insiders own 11.70% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in PAYX. Salem Investment Counselors Inc. boosted its holdings in 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 purchasing an additional 11 shares in the last quarter. Dupont Capital Management Corp purchased a new stake in Paychex in the 2nd quarter valued at approximately $129,000. Sun Life Financial INC boosted its holdings in 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 purchasing an additional 2,326 shares in the last quarter. San Francisco Sentry Investment Group CA purchased a new stake in Paychex in the 2nd quarter valued at approximately $145,000. Finally, Bank of Nova Scotia Trust Co. purchased a new stake in Paychex in the 3rd quarter valued at approximately $188,000. 68.02% of the stock is currently owned by institutional investors.

Paychex (NASDAQ PAYX) opened at $69.01 on Friday. Paychex has a twelve month low of $54.20 and a twelve month high of $69.14. The stock has a market capitalization of $24,581.71, a PE ratio of 30.14, a P/E/G ratio of 3.71 and a beta of 0.99.

Paychex (NASDAQ:PAYX) last announced its quarterly earnings data on Tuesday, October 3rd. The business services provider reported $0.62 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.02. Paychex had a return on equity of 43.01% and a net margin of 26.01%. The company had revenue of $816.80 million for the quarter, compared to analyst estimates of $816.34 million. During the same quarter in the previous year, the company earned $0.60 EPS. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. analysts anticipate that Paychex will post 2.38 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 15th. Shareholders of record on Wednesday, November 1st were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date was Tuesday, October 31st. Paychex’s dividend payout ratio is presently 87.34%.

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About Paychex

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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