Paychex, Inc. (NASDAQ:PAYX) – Equities research analysts at Wedbush upped their FY2018 earnings per share (EPS) estimates for Paychex in a note issued to investors on Tuesday. Wedbush analyst M. Katri now anticipates that the business services provider will post earnings per share of $2.37 for the year, up from their previous forecast of $2.36. Wedbush also issued estimates for Paychex’s Q1 2019 earnings at $0.64 EPS, Q2 2019 earnings at $0.64 EPS, Q3 2019 earnings at $0.64 EPS, Q4 2019 earnings at $0.64 EPS and FY2019 earnings at $2.56 EPS.

Several other equities analysts have also recently weighed in on PAYX. Goldman Sachs Group, Inc. (The) cut Paychex from a “buy” rating to a “neutral” rating and lowered their price target for the company from $68.00 to $64.00 in a report on Tuesday, June 20th. BMO Capital Markets reissued a “hold” rating and set a $60.00 price target on shares of Paychex in a report on Thursday, June 29th. Robert W. Baird lowered their price target on Paychex from $63.00 to $60.00 and set a “neutral” rating on the stock in a report on Friday, June 30th. Morgan Stanley lowered their price target on Paychex from $56.00 to $55.00 and set an “underweight” rating on the stock in a report on Friday, June 30th. Finally, J P Morgan Chase & Co reissued a “neutral” rating and set a $60.00 price target (down from $62.00) on shares of Paychex in a report on Friday, June 30th. Five analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $60.07.

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Shares of Paychex (PAYX) traded up 0.5725% during mid-day trading on Wednesday, hitting $63.2601. The company’s stock had a trading volume of 297,016 shares. The company has a market cap of $22.74 billion, a price-to-earnings ratio of 28.1156 and a beta of 0.98. Paychex has a 52-week low of $52.78 and a 52-week high of $64.75. The stock’s 50 day moving average price is $59.53 and its 200 day moving average price is $58.30.

Paychex (NASDAQ:PAYX) last issued its earnings results on Tuesday, October 3rd. The business services provider reported $0.62 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.02. The firm had revenue of $816.80 million for the quarter, compared to analyst estimates of $816.34 million. Paychex had a return on equity of 43.01% and a net margin of 26.01%. The business’s revenue was up 4.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.60 earnings per share.

A number of large investors have recently bought and sold shares of PAYX. Salem Investment Counselors Inc. grew its position 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 valued at $102,000 after purchasing an additional 11 shares in the last quarter. Dupont Capital Management Corp purchased a new position in shares of Paychex during the second quarter valued at about $129,000. Sun Life Financial INC grew its position 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 valued at $133,000 after purchasing an additional 2,326 shares in the last quarter. San Francisco Sentry Investment Group CA purchased a new position in shares of Paychex during the second quarter valued at about $145,000. Finally, Kernodle & Katon Asset Management Group LLC grew its position in shares of Paychex by 37.7% during the first quarter. Kernodle & Katon Asset Management Group LLC now owns 3,166 shares of the business services provider’s stock valued at $186,000 after purchasing an additional 867 shares in the last quarter. 67.36% of the stock is currently owned by institutional investors and hedge funds.

In other Paychex news, CEO Martin Mucci sold 29,786 shares of the firm’s stock in a transaction dated Thursday, October 5th. The stock was sold at an average price of $63.17, for a total transaction of $1,881,581.62. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Laurie L. Zaucha sold 17,354 shares of the firm’s stock in a transaction dated Tuesday, October 10th. The shares were sold at an average price of $64.00, for a total value of $1,110,656.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 88,395 shares of company stock worth $5,532,183. Insiders own 11.70% of the company’s stock.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Wednesday, November 1st will be issued a dividend of $0.50 per share. The ex-dividend date is Tuesday, October 31st. This represents a $2.00 dividend on an annualized basis and a yield of 3.18%. Paychex’s dividend payout ratio is presently 87.34%.

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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