Paychex, Inc. (NASDAQ:PAYX) – Stock analysts at William Blair dropped their Q2 2018 earnings per share estimates for shares of Paychex in a research note issued on Tuesday. William Blair analyst T. Mchugh now forecasts that the business services provider will post earnings of $0.59 per share for the quarter, down from their previous estimate of $0.60. William Blair has a “Market Perform” rating on the stock. William Blair also issued estimates for Paychex’s FY2018 earnings at $2.38 EPS.

Paychex (NASDAQ:PAYX) last issued its earnings results on Tuesday, October 3rd. The business services provider reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.02. The business had revenue of $816.80 million during the quarter, compared to analyst estimates of $816.34 million. Paychex had a return on equity of 43.33% and a net margin of 26.01%. Paychex’s revenue was up 4.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.60 earnings per share.

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Other equities analysts have also recently issued reports about the company. Morgan Stanley dropped their price objective on Paychex from $56.00 to $55.00 and set an “underweight” rating for the company in a report on Friday, June 30th. BidaskClub lowered Paychex from a “sell” rating to a “strong sell” rating in a research note on Saturday, July 1st. BMO Capital Markets restated a “hold” rating and set a $60.00 price objective on shares of Paychex in a research report on Thursday, June 29th. J P Morgan Chase & Co restated a “neutral” rating and set a $60.00 price objective (down previously from $62.00) on shares of Paychex in a research report on Friday, June 30th. Finally, Goldman Sachs Group, Inc. (The) lowered Paychex from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $68.00 to $64.00 in a research report on Tuesday, June 20th. Five analysts have rated the stock with a sell rating, twelve have given a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $60.07.

Shares of Paychex (NASDAQ PAYX) traded up 0.78% during mid-day trading on Thursday, reaching $63.10. The company’s stock had a trading volume of 670,202 shares. Paychex has a 52-week low of $52.78 and a 52-week high of $63.21. The firm has a 50 day moving average price of $57.82 and a 200 day moving average price of $58.19. The firm has a market cap of $22.68 billion, a price-to-earnings ratio of 28.04 and a beta of 0.98.

In other news, insider Efrain Rivera sold 5,837 shares of Paychex stock in a transaction that occurred on Sunday, July 9th. The shares were sold at an average price of $57.39, for a total transaction of $334,985.43. Following the completion of the transaction, the insider now directly owns 53,395 shares in the company, valued at $3,064,339.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Laurie L. Zaucha sold 15,000 shares of Paychex stock in a transaction that occurred on Tuesday, October 3rd. The shares were sold at an average price of $62.00, for a total transaction of $930,000.00. The disclosure for this sale can be found here. Insiders sold 112,270 shares of company stock worth $6,543,888 over the last three months. 11.70% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. raised its holdings in Paychex by 2,782.5% in the 1st quarter. BlackRock Inc. now owns 25,717,903 shares of the business services provider’s stock worth $1,514,786,000 after acquiring an additional 24,825,695 shares during the last quarter. Vanguard Group Inc. grew its position in Paychex by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 23,043,348 shares of the business services provider’s stock worth $1,312,089,000 after purchasing an additional 589,880 shares during the period. State Street Corp grew its position in Paychex by 2.2% in the 1st quarter. State Street Corp now owns 14,205,592 shares of the business services provider’s stock worth $836,708,000 after purchasing an additional 309,889 shares during the period. FMR LLC grew its position in Paychex by 6.2% in the 2nd quarter. FMR LLC now owns 10,476,188 shares of the business services provider’s stock worth $596,514,000 after purchasing an additional 610,088 shares during the period. Finally, Ameriprise Financial Inc. grew its position in Paychex by 23.8% in the 1st quarter. Ameriprise Financial Inc. now owns 4,237,537 shares of the business services provider’s stock worth $248,742,000 after purchasing an additional 813,930 shares during the period. Institutional investors own 67.31% 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.

Earnings History and Estimates for Paychex (NASDAQ:PAYX)

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