NEW YORK (

TheStreet

) -- The ex-dividend date for

Paychex

(Nasdaq:

PAYX

) is tomorrow, October 28, 2011. Owners of shares as of market close today will be eligible for a dividend of 32 cents per share. At a price of $29.66 as of 9:30 a.m. ET, the dividend yield is 4.5%.

The average volume for Paychex has been 4.4 million shares per day over the past 30 days. Paychex has a market cap of $10.4 billion and is part of the

services

sector and

diversified services

industry. Shares are down 6.5% year to date as of the close of trading on Wednesday.

Paychex, Inc. provides payroll, human resource, and benefits outsourcing solutions for small to medium sized businesses. The company has a P/E ratio of 19.5, equal to the average diversified services industry P/E ratio and above the S&P 500 P/E ratio of 17.7.

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TheStreet Ratings rates Paychex as a

buy

. The company's strengths can be seen in multiple areas, such as its revenue growth, growth in earnings per share, expanding profit margins, increase in net income and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company shows weak operating cash flow. You can view the full

Paychex Ratings Report

.

See our

dividend calendar

or

top-yielding stocks list

.

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