Paychex (NASDAQ:PAYX) updated its FY 2020
IntraDay earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 2.98-3.01 for the period, compared to the Thomson Reuters consensus estimate of $3.02. The company issued revenue guidance of $4.037-4.037 billion, compared to the consensus revenue estimate of $4.08 billion.
Several equities research analysts have recently issued reports on PAYX shares. Robert W. Baird lowered their price objective on Paychex from $87.00 to $67.00 and set a neutral rating for the company in a research note on Thursday, March 26th. BMO Capital Markets decreased their price target on Paychex from $87.00 to $70.00 and set a market perform rating on the stock in a research note on Thursday, March 26th. Stifel Nicolaus cut their price objective on Paychex from $87.00 to $55.00 and set a hold rating on the stock in a research report on Tuesday, March 24th. Jefferies Financial Group dropped their target price on Paychex from $82.00 to $68.00 and set a hold rating on the stock in a report on Wednesday, March 25th. Finally, Citigroup lowered Paychex from a buy rating to a neutral rating and set a $65.00 price objective on the stock. in a report on Wednesday, March 18th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $71.00.
PAYX stock traded up $1.63 on Tuesday, hitting $67.96. 149,578 shares of the company’s stock traded hands, compared to its average volume of 2,326,641. Paychex has a 1-year low of $47.87 and a 1-year high of $90.54. The stock has a fifty day moving average of $65.32 and a 200-day moving average of $78.34. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.33. The stock has a market cap of $22.75 billion, a price-to-earnings ratio of 21.61, a P/E/G ratio of 2.63 and a beta of 0.96.
Paychex (NASDAQ:PAYX) last announced its quarterly earnings results on Wednesday, March 25th. The business services provider reported $0.97 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.95 by $0.02. Paychex had a net margin of 26.98% and a return on equity of 41.68%. The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the prior year, the business posted $0.89 EPS. Paychex’s quarterly revenue was up 6.8% on a year-over-year basis. On average, equities research analysts anticipate that Paychex will post 3.02 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 28th. Investors of record on Friday, May 15th will be issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 3.65%. The ex-dividend date is Thursday, May 14th. Paychex’s dividend payout ratio is currently 87.32%.
In other news, Director Tom Bonadio acquired 1,650 shares of the firm’s stock in a transaction that occurred on Friday, March 27th. The stock was acquired at an average cost of $60.59 per share, with a total value of $99,973.50. Following the acquisition, the director now owns 15,157 shares in the company, valued at $918,362.63. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 11.70% of the stock is currently owned by corporate insiders.
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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