Paychex (PAYX) was Initiated by Compass Point to “Sell” and the brokerage firm has set the Price Target at $45. Compass Point advised their investors in a research report released on Apr 15, 2016.
On the company’s financial health, Paychex reported $0.50 EPS for the quarter, based on the information available during the earnings call on Mar 30, 2016. Analyst had a consensus estimate of $0.50. The company had revenue of $752.60 million for the quarter, compared to analysts expectations of $751.21 million. The company’s revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.46 EPS.
Paychex closed down -0.36 points or -0.68% at $52.68 with 16,54,812 shares getting traded on Monday. Post opening the session at $53.25, the shares hit an intraday low of $52.6 and an intraday high of $53.57 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
In a different news, on Apr 6, 2016, Michael E Gioja (Sr. Vice President) sold 19,450 shares at $53.52 per share price. According to the SEC, on Apr 4, 2016, David J S Flaschen (director) sold 6,000 shares at $53.57 per share price. On Nov 20, 2015, Laurie L. Zaucha (Vice President) sold 11,780 shares at $54.00 per share price, according to the Form-4 filing with the securities and exchange commission.
Paychex Inc. is a provider of integrated payroll human Resource insurance and benefits outsourcing solutions for small- to medium-sized businesses. The Company focuses on providing payroll and human Resource services; delivering these services; growing its client base through the efforts of its direct sales force; improving client service through its leading-edge technology; capitalizing on the growth opportunities within its existing client base and from new clients; investing in business through expansion of its services and product offerings; and supplementing its growth through strategic acquisitions. The Company offers services and products that allow its clients to meet their diverse payroll and human Resource needs. These include: payroll processing; payroll tax administration services; employee payment services; regulatory compliance services; Paychex HR Services; retirement services administration; insurance services; and online HR administration services.