Paychex (PAYX) Posts Quarterly Results
Paychex (NASDAQ:PAYX) issued its quarterly earnings data on Tuesday. The company reported $0.44 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.43 by $0.01, AnalystRatings.Net reports. The company had revenue of $597.90 million for the quarter, compared to the consensus estimate of $605.56 million. During the same quarter last year, the company posted $0.42 earnings per share. Paychex’s revenue was up 5.1% compared to the same quarter last year.
Shares of Paychex (NASDAQ:PAYX) opened at 40.64 on Tuesday. Paychex has a one year low of $30.55 and a one year high of $41.24. The stock’s 50-day moving average is $39.83 and its 200-day moving average is $37.89. The company has a market cap of $14.855 billion and a P/E ratio of 25.87. Paychex also was the target of some unusual options trading activity on Monday. Traders acquired 9,157 call options on the company. This is an increase of approximately 275% compared to the average daily volume of 2,442 call options.
A number of research firms have recently commented on PAYX. Analysts at UBS AG raised their price target on shares of Paychex (NASDAQ:PAYX) from $35.00 to $38.00 in a research note to investors on Thursday, August 29th. They now have a “neutral” rating on the stock. On the ratings front, analysts at Argus initiated coverage on shares of Paychex (NASDAQ:PAYX) in a research note to investors on Wednesday, July 17th. They set a “hold” rating on the stock. Finally, analysts at TheStreet reiterated a “buy” rating on shares of Paychex (NASDAQ:PAYX) in a research note to investors on Tuesday, July 9th. Five analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $34.25.
Paychex, Inc is a provider of payroll, human resource, and benefits outsourcing solutions for small to medium-sized businesses.
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