Paychex, Inc. (PAYX) Scheduled to Post Quarterly Earnings on Tuesday
Paychex, Inc. (NASDAQ:PAYX) is scheduled to announce its earnings results before the market opens on Tuesday, September 26th. Analysts expect the company to announce earnings of $0.61 per share for the quarter.
Paychex (NASDAQ:PAYX) last posted its earnings results on Wednesday, June 28th. The business services provider reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.01. The firm had revenue of $799.00 million during the quarter, compared to the consensus estimate of $797.70 million. Paychex had a net margin of 25.93% and a return on equity of 42.48%. The company’s revenue was up 6.0% on a year-over-year basis. During the same quarter last year, the company earned $0.49 earnings per share. On average, analysts expect Paychex to post $2.37 EPS for the current fiscal year and $2.56 EPS for the next fiscal year.
Paychex, Inc. (NASDAQ PAYX) opened at 58.08 on Tuesday. Paychex, Inc. has a 1-year low of $52.78 and a 1-year high of $63.03. The stock has a 50 day moving average of $56.37 and a 200 day moving average of $58.38. The stock has a market cap of $20.87 billion, a P/E ratio of 25.81 and a beta of 0.96.
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 24th. Stockholders of record on Tuesday, August 1st were given a dividend of $0.50 per share. The ex-dividend date was Friday, July 28th. This represents a $2.00 annualized dividend and a dividend yield of 3.44%. This is a positive change from Paychex’s previous quarterly dividend of $0.46. Paychex’s dividend payout ratio is presently 88.50%.
Several equities research analysts have recently commented on PAYX shares. Wedbush reaffirmed a “neutral” rating and set a $61.25 price target (down previously from $65.00) on shares of Paychex in a research report on Tuesday, June 6th. Goldman Sachs Group, Inc. (The) lowered shares of Paychex from a “buy” rating to a “neutral” rating and reduced their price target for the company from $68.00 to $64.00 in a research report on Tuesday, June 20th. BMO Capital Markets reaffirmed a “hold” rating and set a $60.00 price target on shares of Paychex in a research report on Thursday, June 29th. Robert W. Baird reduced their price target on shares of Paychex from $63.00 to $60.00 and set a “neutral” rating for the company in a research report on Friday, June 30th. Finally, Morgan Stanley reduced their price target on shares of Paychex from $56.00 to $55.00 and set an “underweight” rating for the company in a research report on Friday, June 30th. Four equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and one has assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $59.28.
In related news, CEO Martin Mucci sold 30,000 shares of the firm’s stock in a transaction on Thursday, July 13th. The stock was sold at an average price of $57.04, for a total value of $1,711,200.00. Following the completion of the sale, the chief executive officer now directly owns 237,754 shares in the company, valued at $13,561,488.16. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Joseph M. Tucci sold 6,000 shares of the firm’s stock in a transaction on Monday, July 10th. The stock was sold at an average price of $57.82, for a total value of $346,920.00. Following the completion of the sale, the director now owns 53,621 shares of the company’s stock, valued at $3,100,366.22. The disclosure for this sale can be found here. Insiders have sold a total of 92,497 shares of company stock valued at $5,300,889 over the last quarter. Corporate insiders own 11.70% of the company’s stock.
Paychex Company Profile
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.
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