Wall Street brokerages forecast that Paychex, Inc. (NASDAQ:PAYX) will report $0.68 earnings per share for the current fiscal quarter, according to Zacks. Seven analysts have provided estimates for Paychex’s earnings. The highest EPS estimate is $0.69 and the lowest is $0.68. Paychex reported earnings of $0.65 per share during the same quarter last year, which would indicate a positive year over year growth rate of 4.6%. The business is expected to announce its next quarterly earnings report on Wednesday, December 18th.
On average, analysts expect that Paychex will report full-year earnings of $3.11 per share for the current year, with EPS estimates ranging from $3.10 to $3.13. For the next financial year, analysts expect that the company will report earnings of $3.35 per share, with EPS estimates ranging from $3.32 to $3.40. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Paychex.
Paychex (NASDAQ:PAYX) last released its quarterly earnings data on Wednesday, October 2nd. The business services provider reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.02. The firm had revenue of $992.00 million for the quarter, compared to analyst estimates of $991.70 million. Paychex had a return on equity of 41.07% and a net margin of 27.04%. The business’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.67 earnings per share.
In other Paychex news, CEO Martin Mucci sold 31,865 shares of the firm’s stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $84.86, for a total transaction of $2,704,063.90. Following the transaction, the chief executive officer now owns 362,806 shares in the company, valued at approximately $30,787,717.16. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director David J. S. Flaschen sold 13,052 shares of the firm’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $84.50, for a total value of $1,102,894.00. Following the transaction, the director now owns 43,564 shares in the company, valued at approximately $3,681,158. The disclosure for this sale can be found here. In the last quarter, insiders have sold 67,256 shares of company stock worth $5,707,113. 11.70% of the stock is owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of the business. WINTON GROUP Ltd boosted its holdings in shares of Paychex by 89.1% during the 2nd quarter. WINTON GROUP Ltd now owns 8,182 shares of the business services provider’s stock valued at $673,000 after acquiring an additional 3,855 shares in the last quarter. Campbell & CO Investment Adviser LLC bought a new stake in Paychex in the 2nd quarter valued at about $289,000. Nachman Norwood & Parrott Inc increased its position in Paychex by 3.1% in the 2nd quarter. Nachman Norwood & Parrott Inc now owns 12,266 shares of the business services provider’s stock valued at $1,009,000 after buying an additional 364 shares in the last quarter. Gyroscope Capital Management Group LLC increased its position in Paychex by 8.4% in the 2nd quarter. Gyroscope Capital Management Group LLC now owns 4,659 shares of the business services provider’s stock valued at $397,000 after buying an additional 361 shares in the last quarter. Finally, Orrstown Financial Services Inc. increased its position in Paychex by 2.8% in the 2nd quarter. Orrstown Financial Services Inc. now owns 10,192 shares of the business services provider’s stock valued at $839,000 after buying an additional 279 shares in the last quarter. Hedge funds and other institutional investors own 69.26% of the company’s stock.
Shares of NASDAQ PAYX traded down $0.37 during trading hours on Friday, reaching $86.12. 578,642 shares of the stock were exchanged, compared to its average volume of 1,293,064. The firm has a market capitalization of $30.96 billion, a price-to-earnings ratio of 30.32, a P/E/G ratio of 3.98 and a beta of 0.89. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.15 and a current ratio of 1.15. Paychex has a 52 week low of $61.32 and a 52 week high of $88.43. The stock’s fifty day simple moving average is $84.37 and its 200 day simple moving average is $84.16.
The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Friday, November 1st were paid a dividend of $0.62 per share. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.88%. Paychex’s dividend payout ratio (DPR) is currently 87.32%.
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.
See Also: Hedge Funds – Risk or Reward?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Paychex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Paychex and related companies with MarketBeat.com's FREE daily email newsletter.