Wall Street analysts expect Paychex, Inc. (NASDAQ:PAYX) to post earnings of $0.60 per share for the current fiscal quarter, according to Zacks Investment Research. Fourteen analysts have issued estimates for Paychex’s earnings. The lowest EPS estimate is $0.58 and the highest is $0.65. Paychex posted earnings of $0.55 per share during the same quarter last year, which suggests a positive year over year growth rate of 9.1%. The firm is scheduled to announce its next earnings results before the market opens on Monday, March 26th.
According to Zacks, analysts expect that Paychex will report full-year earnings of $2.40 per share for the current fiscal year, with EPS estimates ranging from $2.35 to $2.53. For the next fiscal year, analysts expect that the company will post earnings of $2.76 per share, with EPS estimates ranging from $2.51 to $2.98. Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that follow Paychex.
Paychex (NASDAQ:PAYX) last posted its quarterly earnings results on Thursday, December 21st. The business services provider reported $0.59 EPS for the quarter, hitting the consensus estimate of $0.59. The company had revenue of $826.50 million during the quarter, compared to analysts’ expectations of $823.48 million. Paychex had a net margin of 26.02% and a return on equity of 42.80%. The firm’s revenue was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.56 EPS.
Shares of Paychex (PAYX) opened at $66.72 on Wednesday. The firm has a market cap of $23,885.84, a P/E ratio of 28.64, a PEG ratio of 3.55 and a beta of 0.96. Paychex has a 12-month low of $54.20 and a 12-month high of $73.10.
The firm also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Thursday, February 1st were given a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, January 31st. This represents a $2.00 annualized dividend and a yield of 3.00%. Paychex’s dividend payout ratio (DPR) is 85.84%.
In related news, VP Jennifer R. Vossler sold 10,000 shares of the company’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $68.29, for a total value of $682,900.00. Following the completion of the sale, the vice president now owns 31,578 shares in the company, valued at approximately $2,156,461.62. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Michael E. Gioja sold 34,311 shares of the company’s stock in a transaction on Thursday, January 4th. The shares were sold at an average price of $68.91, for a total transaction of $2,364,371.01. Following the completion of the sale, the insider now owns 63,374 shares of the company’s stock, valued at approximately $4,367,102.34. The disclosure for this sale can be found here. 11.70% of the stock is owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Green Square Capital LLC increased its stake in Paychex by 139.2% in the 4th quarter. Green Square Capital LLC now owns 13,024 shares of the business services provider’s stock valued at $887,000 after buying an additional 7,580 shares during the period. Cambridge Investment Research Advisors Inc. increased its stake in Paychex by 17.0% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 33,032 shares of the business services provider’s stock valued at $2,249,000 after buying an additional 4,791 shares during the period. KCM Investment Advisors LLC acquired a new position in Paychex in the 4th quarter valued at $206,000. Xact Kapitalforvaltning AB increased its stake in Paychex by 8.6% in the 4th quarter. Xact Kapitalforvaltning AB now owns 52,911 shares of the business services provider’s stock valued at $3,602,000 after buying an additional 4,202 shares during the period. Finally, WealthPLAN Partners LLC acquired a new position in Paychex in the 4th quarter valued at $215,000. Hedge funds and other institutional investors own 68.74% of the company’s stock.
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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.
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