Paychex (PAYX) to Release Quarterly Earnings on Tuesday
Paychex (NASDAQ:PAYX) is scheduled to issue its quarterly earnings data before the market opens on Tuesday, December 19th. Analysts expect the company to announce earnings of $0.59 per share for the quarter.
Paychex (NASDAQ:PAYX) last released its quarterly earnings results on Tuesday, October 3rd. The business services provider reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.02. Paychex had a net margin of 26.01% and a return on equity of 43.01%. The company had revenue of $816.80 million for the quarter, compared to the consensus estimate of $816.34 million. During the same period in the previous year, the firm earned $0.60 EPS. Paychex’s revenue was up 4.0% on a year-over-year basis. On average, analysts expect Paychex to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.
Shares of Paychex (PAYX) opened at $69.02 on Tuesday. Paychex has a 52-week low of $54.20 and a 52-week high of $69.26. The company has a market cap of $24,797.31, a PE ratio of 30.40, a price-to-earnings-growth ratio of 3.74 and a beta of 0.99.
In other news, VP Laurie L. Zaucha sold 15,000 shares of the business’s 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 transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Martin Mucci sold 29,786 shares of the business’s stock in a transaction that occurred on Thursday, October 5th. The shares were sold at an average price of $63.17, for a total transaction of $1,881,581.62. The disclosure for this sale can be found here. Insiders have sold 94,395 shares of company stock worth $5,914,383 in the last 90 days. 11.70% of the stock is owned by company insiders.
PAYX has been the topic of a number of recent analyst reports. Bank of America boosted their price target on shares of Paychex from $68.00 to $73.00 and gave the stock a “buy” rating in a research report on Tuesday, December 5th. Morgan Stanley reiterated an “equal weight” rating and issued a $59.00 target price (up from $55.00) on shares of Paychex in a report on Wednesday, October 4th. Stifel Nicolaus reiterated a “hold” rating and issued a $61.00 target price on shares of Paychex in a report on Friday, August 18th. Robert W. Baird reiterated a “hold” rating and issued a $64.00 target price on shares of Paychex in a report on Wednesday, October 4th. Finally, Wells Fargo & Company boosted their target price on shares of Paychex from $58.00 to $60.00 and gave the stock a “market perform” rating in a report on Wednesday, October 4th. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $61.19.
COPYRIGHT VIOLATION NOTICE: “Paychex (PAYX) to Release Quarterly Earnings on Tuesday” was originally posted by American Banking News and is owned by of American Banking News. If you are accessing this piece of content on another domain, it was illegally copied and reposted in violation of U.S. & international trademark and copyright law. The legal version of this piece of content can be accessed at https://www.americanbankingnews.com/2017/12/12/paychex-payx-to-release-quarterly-earnings-on-tuesday.html.
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.
Receive News & Ratings for Paychex Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Paychex Inc. and related companies with MarketBeat.com's FREE daily email newsletter.