Paychex Target of Unusually High Options Trading (NASDAQ:PAYX)

Paychex, Inc. (NASDAQ:PAYX) saw some unusual options trading on Monday. Stock investors acquired 5,490 call options on the stock. This is an increase of approximately 642% compared to the average daily volume of 740 call options.

In related news, VP John B. Gibson sold 6,000 shares of Paychex stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $63.70, for a total transaction of $382,200.00. Following the sale, the vice president now directly owns 21,758 shares in the company, valued at $1,385,984.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Jennifer R. Vossler sold 11,155 shares of the firm’s stock in a transaction on Friday, October 6th. The stock was sold at an average price of $63.07, for a total value of $703,545.85. The disclosure for this sale can be found here. In the last three months, insiders sold 79,395 shares of company stock valued at $5,014,383. Insiders own 11.70% of the company’s stock.

Hedge funds have recently modified their holdings of the business. Salem Investment Counselors Inc. increased its stake 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 worth $102,000 after buying an additional 11 shares in the last quarter. Dupont Capital Management Corp purchased a new position in shares of Paychex during the second quarter valued at about $129,000. Sun Life Financial INC grew its position in shares of Paychex by 23,260.0% during the second 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 position in shares of Paychex during the second quarter valued at about $145,000. Finally, Bank of Nova Scotia Trust Co. purchased a new position in shares of Paychex during the third quarter valued at about $188,000. Institutional investors and hedge funds own 67.82% of the company’s stock.

Paychex (NASDAQ PAYX) traded down $0.26 during mid-day trading on Friday, reaching $68.08. The company had a trading volume of 1,210,859 shares, compared to its average volume of 1,995,301. The company has a market cap of $24,546.74, a PE ratio of 29.22, a PEG ratio of 3.71 and a beta of 0.99. Paychex has a fifty-two week low of $54.20 and a fifty-two week high of $70.39.

Paychex (NASDAQ:PAYX) last released its quarterly earnings results on Thursday, December 21st. The business services provider reported $0.59 earnings per share for the quarter, meeting the consensus estimate of $0.59. The firm had revenue of $826.50 million for the quarter, compared to analysts’ expectations of $823.48 million. Paychex had a return on equity of 42.80% and a net margin of 26.02%. The company’s revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.56 EPS. research analysts forecast that Paychex will post 2.38 EPS for the current fiscal year.

PAYX has been the subject of several research analyst reports. BidaskClub lowered Paychex from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 22nd. Stifel Nicolaus reissued a “hold” rating and set a $68.00 price objective on shares of Paychex in a research note on Friday, December 22nd. Bank of America lifted their price target on Paychex from $68.00 to $73.00 and gave the stock a “buy” rating in a research note on Tuesday, December 5th. Citigroup raised Paychex from a “sell” rating to a “neutral” rating and set a $67.00 price target for the company in a research note on Monday, December 4th. Finally, Royal Bank of Canada reissued a “sell” rating and issued a $57.00 target price on shares of Paychex in a research note on Wednesday, November 15th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $61.87.

ILLEGAL ACTIVITY NOTICE: “Paychex Target of Unusually High Options Trading (NASDAQ:PAYX)” was originally posted by Week Herald and is the property of of Week Herald. If you are viewing this news story on another domain, it was stolen and republished in violation of U.S. and international copyright laws. The original version of this news story can be accessed at https://weekherald.com/2017/12/30/traders-purchase-large-volume-of-paychex-call-options-payx.html.

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.

Receive News & Ratings for Paychex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Paychex and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply