The SVP of Paychex (NASDAQ: PAYX) is Selling Shares

By Carrie Williams

Today, the SVP of Paychex (NASDAQ: PAYX), Michael Gioja, sold shares of PAYX for $36.24K.

In addition to Michael Gioja, 11 other PAYX executives reported Sell trades in the last month.

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Based on Paychex’s latest earnings report for the quarter ending May 31, the company posted quarterly revenue of $871 million and quarterly net profit of $229 million. In comparison, last year the company earned revenue of $799 million and had a net profit of $195 million. PAYX’s market cap is $25.26B and the company has a P/E ratio of 27.28. Currently, Paychex has an average volume of 2.16M.

Nine different firms, including Bernstein and Merrill Lynch, currently also have a Sell rating on the stock. Based on 4 analyst ratings, the analyst consensus is Hold with an average price target of $67.25, reflecting a 4.5% upside.

The insider sentiment on Paychex has been negative according to 49 insider trades in the past three months. This sentiment is lower than the average sentiment of company insiders in this sector.

Michael Gioja’s trades have generated a -16.3% average return based on past transactions. DailyInsider proprietary algorithm detects trades by the most influential insiders and selects attractive trading opportunities daily. To subscribe to the DailyInsider visit this page.

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Paychex, Inc. engages in the provision of payroll, human resource, insurance, and benefits outsourcing solutions for small and medium sized businesses. It offers payroll processing, payroll tax administration services, employee payment services, regulatory compliance services, Paychex HR Solutions, retirement services administration, insurance services, and eServices and other human resource services and products. The company was founded by Blase Thomas Golisano in 1971 and is headquartered in Rochester, NY.