Brokerages predict that Paychex, Inc. (NASDAQ:PAYX) will announce earnings per share of $0.60 for the current quarter, according to Zacks Investment Research. Fourteen analysts have issued estimates for Paychex’s earnings, with the lowest EPS estimate coming in at $0.58 and the highest estimate coming in at $0.65. Paychex posted earnings of $0.55 per share in the same quarter last year, which indicates a positive year over year growth rate of 9.1%. The firm is expected to issue its next earnings report on Wednesday, April 4th.
On average, analysts expect that Paychex will report full-year earnings of $2.40 per share for the current year, with EPS estimates ranging from $2.35 to $2.53. For the next year, analysts forecast 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 a mean average based on a survey of research analysts that follow Paychex.
Paychex (NASDAQ:PAYX) last issued its quarterly earnings results on Thursday, December 21st. The business services provider reported $0.59 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.59. The business had revenue of $826.50 million for the quarter, compared to the consensus estimate of $823.48 million. Paychex had a return on equity of 42.80% and a net margin of 26.02%. The business’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.56 earnings per share.
A number of equities analysts have recently issued reports on the company. BidaskClub downgraded Paychex from a “buy” rating to a “hold” rating in a research report on Wednesday, January 10th. BMO Capital Markets reaffirmed a “hold” rating and set a $70.00 price target on shares of Paychex in a research report on Wednesday, January 24th. Bank of America downgraded Paychex from a “buy” rating to a “neutral” rating and set a $73.00 target price on the stock. in a research report on Tuesday, January 9th. Stifel Nicolaus reissued a “hold” rating and issued a $68.00 target price on shares of Paychex in a research report on Friday, December 22nd. Finally, Citigroup raised Paychex from a “sell” rating to a “neutral” rating and set a $67.00 target price on the stock in a research report on Monday, December 4th. Two research analysts have rated the stock with a sell rating and twelve have assigned a hold rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $62.77.
Paychex (NASDAQ PAYX) opened at $64.16 on Thursday. The stock has a market capitalization of $23,045.38, a price-to-earnings ratio of 27.90, a PEG ratio of 3.45 and a beta of 0.94. Paychex has a 12-month low of $54.20 and a 12-month high of $73.10.
The company also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Thursday, February 1st will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.12%. The ex-dividend date is Wednesday, January 31st. Paychex’s payout ratio is 85.84%.
In other Paychex news, insider Michael E. Gioja sold 34,311 shares of the stock in a transaction dated Thursday, January 4th. The stock was sold at an average price of $68.91, for a total transaction of $2,364,371.01. Following the sale, the insider now directly owns 63,374 shares of the company’s stock, valued at approximately $4,367,102.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Jennifer R. Vossler sold 10,000 shares of the stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $68.29, for a total value of $682,900.00. Following the sale, the vice president now directly owns 31,578 shares in the company, valued at $2,156,461.62. The disclosure for this sale can be found here. 11.70% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in PAYX. Field & Main Bank acquired a new stake in Paychex during the 4th quarter worth about $101,000. Acadian Asset Management LLC acquired a new stake in Paychex during the 4th quarter worth about $109,000. Calton & Associates Inc. acquired a new stake in Paychex during the 4th quarter worth about $151,000. Bank of Nova Scotia Trust Co. acquired a new stake in Paychex during the 3rd quarter worth about $188,000. Finally, Nwam LLC acquired a new stake in Paychex during the 4th quarter worth about $201,000. 67.98% of the stock is currently owned by institutional investors.
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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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