Paychex, Inc. (NASDAQ:PAYX) – Northcoast Research raised their FY2018 earnings estimates for shares of Paychex in a report issued on Wednesday. Northcoast Research analyst K. Mehta now anticipates that the business services provider will earn $2.38 per share for the year, up from their prior forecast of $2.36.

Other equities research analysts also recently issued research reports about the company. J P Morgan Chase & Co reaffirmed a “neutral” rating and set a $60.00 price target (down previously from $62.00) on shares of Paychex in a report on Friday, June 30th. Goldman Sachs Group, Inc. (The) downgraded Paychex from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $68.00 to $64.00 in a report on Tuesday, June 20th. Morgan Stanley dropped their target price on Paychex from $56.00 to $55.00 and set an “underweight” rating for the company in a report on Friday, June 30th. Robert W. Baird dropped their target price on Paychex from $63.00 to $60.00 and set a “neutral” rating for the company in a report on Friday, June 30th. Finally, Stifel Nicolaus reissued a “hold” rating and set a $61.00 target price on shares of Paychex in a report on Friday, August 18th. Five investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $60.07.

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Paychex (NASDAQ:PAYX) traded up 0.27% during trading on Friday, reaching $63.42. 1,315,663 shares of the company traded hands. The company’s 50-day moving average is $58.02 and its 200 day moving average is $58.23. The company has a market cap of $22.79 billion, a PE ratio of 28.19 and a beta of 0.98. Paychex has a 12 month low of $52.78 and a 12 month high of $63.45.

Paychex (NASDAQ:PAYX) last released its earnings results on Tuesday, October 3rd. The business services provider reported $0.62 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.02. The firm had revenue of $816.80 million during the quarter, compared to analysts’ expectations of $816.34 million. Paychex had a net margin of 26.01% and a return on equity of 43.01%. The business’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.60 EPS.

In other Paychex news, VP Laurie L. Zaucha sold 15,000 shares of Paychex stock in a transaction dated Tuesday, October 3rd. The stock was sold at an average price of $62.00, for a total value of $930,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Martin Mucci sold 30,000 shares of Paychex stock in a transaction dated Thursday, July 13th. The shares were sold at an average price of $57.04, for a total value of $1,711,200.00. Following the completion of the transaction, the chief executive officer now owns 237,754 shares in the company, valued at approximately $13,561,488.16. The disclosure for this sale can be found here. In the last quarter, insiders sold 112,270 shares of company stock worth $6,543,888. Company insiders own 11.70% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Salem Investment Counselors Inc. grew its holdings in shares of Paychex by 0.6% during the second quarter. Salem Investment Counselors Inc. now owns 1,796 shares of the business services provider’s stock worth $102,000 after purchasing an additional 11 shares during the last quarter. Dupont Capital Management Corp bought a new stake in shares of Paychex during the second quarter worth about $129,000. Sun Life Financial INC grew its holdings in shares of Paychex by 23,260.0% during the second quarter. Sun Life Financial INC now owns 2,336 shares of the business services provider’s stock worth $133,000 after purchasing an additional 2,326 shares during the last quarter. San Francisco Sentry Investment Group CA bought a new stake in shares of Paychex during the second quarter worth about $145,000. Finally, Parkside Financial Bank & Trust grew its holdings in shares of Paychex by 23.8% during the first quarter. Parkside Financial Bank & Trust now owns 2,935 shares of the business services provider’s stock worth $173,000 after purchasing an additional 564 shares during the last quarter. Institutional investors own 67.31% of the company’s stock.

About Paychex

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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