The stock last traded at $64.34 which is marginally higher than $60.61, the stock’s 50 day moving average and which is slightly above the 200 day moving average of $58.52. The 50 day moving average went up $3.73 or +6.15% whereas the 200 day average was up by +9.95%. Paychex, Inc. shares had a trading volume of 1,399K in the last trading session. Volume was down 27.46% under the stocks average daily volume.
Investors are feeling more bearish on shares of Paychex, Inc. as inferred by the motion in short interest. The stock had a rise in short interest of 1.19% as of September 29, 2017 from the last reporting period. Short shares increased from 11,738,210 to 11,877,610 over that timeframe. With short interest at 11,877,610 and short average daily volume at 1,748,846, the short-interest ratio is 7.0 and the short interest percentage is 0.03% as of September 29.
There has been some selling insider activity on Paychex, Inc. (NASDAQ:PAYX) recently. Laurie L. Zaucha, VP reported the sale of 17,354 shares. The shares were sold on October 10th for a price of $64.00. Zaucha now owns $2,327,040 of the stock per the Form 4 SEC filing. VP Jennifer R. Vossler sold 11,155 shares at an average price of $63.07 on Fri the 6th. Vossler now owns $1,589,049 of stock as recorded in a recent Form 4 SEC filing.
Martin Mucci, CEO disclosed the sale of 29,786 shares of PAYX stock. The shares were purchased at an average price of $63.17. The CEO now owns $17,577,305 of the stock according to the SEC filing.
The following firms have recently changed their position in PAYX. As of the end of the quarter Alpha Windward LLC had sold 24 shares trimming its stake by 0.7%. The value of the investment in PAYX increased from $189,000 to $198,000 increasing 4.8% quarter over quarter. American Capital Management Inc reduced its holdings by selling 15,803 shares a decrease of 26.1% as of 09/30/2017. American Capital Management Inc now holds 44,634 shares with a value of $2,676,000. The total value of its holdings decreased 22.2%.
As of quarter end Robeco Institutional Asset Management B.v. had disposed of a total of 674,018 shares trimming its holdings by 90.5%. The value of the total investment in Paychex, Inc. went from $42,382,000 to $4,219,000 a change of $38,163,000 for the reporting period. Advisors Capital Management, LLC expanded its stake by buying 2,249 shares an increase of 1.1% in the quarter. Advisors Capital Management, LLC claims 202,582 shares worth $12,147,000. The value of the position overall is up by 6.5%.
October 4 investment analysts at Citigroup maintained a stock rating of “Sell” and raised the price target to $57.00 from $53.00.
In the market the company is trading up by 0.47%% since yesterday’s close of 64.04. The company announced a dividend that will be paid on Wednesday the 15th of November 2017. The dividend payment will be $0.500 per share for the quarter or $2.00 annualized. The dividend yield will be $3.15. The ex-dividend date will be Friday the 28th of July 2017.
The company currently has a P/E ratio of 28.22 and market capitalization is 23.10B. As of the latest earnings report the EPS was $2.28 and is expected to be $2.38 for the current year with 358,994,000 shares presently outstanding. Analysts expect next quarter’s EPS will be $0.59 and the next full year EPS is anticipated to be $2.56.
Paychex, Inc., launched on April 26, 1979, 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. As of May 31, 2016, the Company serviced approximately 605,000 payroll clients. It offers a portfolio of HCM services and products that allows its clients to meet their payroll and HR needs. Its payroll-related ancillary services and human resource service (HRS) offerings often leverage the information gathered in the base payroll processing service, allowing it to provide outsourcing services covering the HCM spectrum. It also offers professional employer organization (PEO) services and provides insurance offerings through the Paychex Insurance Agency, Inc. (PIA)..