Paychex (NASDAQ:PAYX) issued an update on its FY 2020
Pre-Market earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 3.01-3.01 for the period, compared to the Thomson Reuters consensus estimate of $3.08. The company issued revenue guidance of $4.074-4.112 billion, compared to the consensus revenue estimate of $4.13 billion.
NASDAQ PAYX opened at $59.56 on Wednesday. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.35. Paychex has a 12 month low of $47.87 and a 12 month high of $90.54. The stock has a market cap of $18.04 billion, a price-to-earnings ratio of 19.92, a PEG ratio of 2.33 and a beta of 0.88. The company’s 50 day moving average is $78.65 and its two-hundred day moving average is $83.12.
A number of brokerages have recently issued reports on PAYX. Morgan Stanley reduced their price objective on shares of Paychex from $67.00 to $61.00 and set an equal weight rating for the company in a research note on Tuesday. Stifel Nicolaus dropped their target price on shares of Paychex from $87.00 to $55.00 and set a hold rating for the company in a report on Tuesday. Citigroup lowered Paychex from a buy rating to a neutral rating and set a $65.00 price target for the company. in a research note on Wednesday, March 18th. BidaskClub cut Paychex from a hold rating to a sell rating in a report on Thursday, March 19th. Finally, Robert W. Baird raised their price target on Paychex from $83.00 to $87.00 and gave the company a neutral rating in a report on Thursday, December 19th. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $75.60.
In other news, VP Laurie L. Zaucha sold 19,579 shares of Paychex stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $89.72, for a total value of $1,756,627.88. Following the sale, the vice president now directly owns 48,086 shares of the company’s stock, valued at $4,314,275.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Michael E. Gioja sold 50,088 shares of Paychex stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $85.74, for a total value of $4,294,545.12. Following the completion of the sale, the vice president now directly owns 70,023 shares in the company, valued at $6,003,772.02. The disclosure for this sale can be found here. In the last quarter, insiders sold 87,823 shares of company stock worth $7,609,568. Corporate insiders own 11.70% of the company’s stock.
Paychex Company Profile
Paychex, Inc provides payroll, human resource (HR), retirement, and insurance services for small to medium-sized businesses in the United States and Europe. The company offers payroll processing services; payroll tax administration services; employee payment services; and regulatory compliance services, such as new-hire reporting and garnishment processing.
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