Paychex, Inc. (PAYX) Expected to Announce Earnings of $0.59 Per Share
Wall Street analysts expect Paychex, Inc. (NASDAQ:PAYX) to post earnings of $0.59 per share for the current fiscal quarter, according to Zacks. Fourteen analysts have provided estimates for Paychex’s earnings, with the lowest EPS estimate coming in at $0.58 and the highest estimate coming in at $0.61. Paychex posted earnings of $0.56 per share in the same quarter last year, which suggests a positive year over year growth rate of 5.4%. The company is scheduled to announce its next quarterly earnings results on Wednesday, December 20th.
According to Zacks, analysts expect that Paychex will report full year earnings of $2.38 per share for the current year, with EPS estimates ranging from $2.35 to $2.39. For the next financial year, analysts expect that the business will report earnings of $2.56 per share, with EPS estimates ranging from $2.51 to $2.58. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that follow Paychex.
Paychex (NASDAQ:PAYX) last issued its quarterly earnings data on Tuesday, October 3rd. The business services provider reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.02. The company 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 quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.60 earnings per share.
A number of equities research analysts have recently issued reports on the stock. J P Morgan Chase & Co restated a “neutral” rating and issued a $60.00 target price (down previously from $62.00) on shares of Paychex in a research note on Friday, June 30th. Morgan Stanley lowered their price objective 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. Stifel Nicolaus reaffirmed a “hold” rating and set a $61.00 price objective on shares of Paychex in a research report on Friday, August 18th. Robert W. Baird lowered their price objective 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, BidaskClub downgraded shares of Paychex from a “sell” rating to a “strong sell” rating in a research report on Sunday, August 6th. Five equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $60.07.
In other news, VP Laurie L. Zaucha sold 17,354 shares of the stock in a transaction that occurred on Tuesday, October 10th. The shares were sold at an average price of $64.00, for a total value of $1,110,656.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Laurie L. Zaucha sold 15,000 shares of the stock in a transaction that occurred on Monday, September 25th. The shares were sold at an average price of $60.00, for a total transaction of $900,000.00. Following the completion of the transaction, the vice president now owns 51,360 shares of the company’s stock, valued at $3,081,600. The disclosure for this sale can be found here. In the last 90 days, insiders sold 88,395 shares of company stock valued at $5,532,183. 11.70% of the stock is owned by insiders.
Institutional investors have recently bought and sold shares of the company. Northwest Quadrant Wealth Management LLC boosted its holdings in shares of Paychex by 0.6% in the first quarter. Northwest Quadrant Wealth Management LLC now owns 3,923 shares of the business services provider’s stock valued at $228,000 after acquiring an additional 24 shares in the last quarter. Paragon Capital Management LLC boosted its holdings in shares of Paychex by 2.4% in the second quarter. Paragon Capital Management LLC now owns 213,047 shares of the business services provider’s stock valued at $12,130,000 after acquiring an additional 4,921 shares in the last quarter. Shelton Capital Management boosted its holdings in shares of Paychex by 72.6% in the first quarter. Shelton Capital Management now owns 102,276 shares of the business services provider’s stock valued at $6,024,000 after acquiring an additional 43,033 shares in the last quarter. Burney Co. boosted its holdings in shares of Paychex by 28.9% in the first quarter. Burney Co. now owns 40,717 shares of the business services provider’s stock valued at $2,398,000 after acquiring an additional 9,135 shares in the last quarter. Finally, Chilton Investment Co. LLC boosted its holdings in shares of Paychex by 16.0% in the second quarter. Chilton Investment Co. LLC now owns 44,872 shares of the business services provider’s stock valued at $2,555,000 after acquiring an additional 6,184 shares in the last quarter. Institutional investors and hedge funds own 67.16% of the company’s stock.
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Paychex (NASDAQ:PAYX) opened at 64.34 on Tuesday. The stock has a market cap of $23.10 billion, a price-to-earnings ratio of 28.22 and a beta of 0.98. The firm’s 50 day moving average price is $60.61 and its 200 day moving average price is $58.52. Paychex has a one year low of $52.78 and a one year high of $64.75.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Wednesday, November 1st will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 3.11%. The ex-dividend date of this dividend is Tuesday, October 31st. Paychex’s dividend payout ratio (DPR) is 87.34%.
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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