$0.68 EPS Expected for Paychex, Inc. (NASDAQ:PAYX) This Quarter

Share on StockTwits

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.

A number of brokerages have recently weighed in on PAYX. Barclays increased their target price on Paychex from $80.00 to $84.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. BidaskClub upgraded Paychex from a “sell” rating to a “hold” rating in a research note on Friday, November 15th. Argus reiterated a “buy” rating and set a $92.00 target price on shares of Paychex in a research note on Thursday, October 3rd. ValuEngine lowered Paychex from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Morgan Stanley lowered Paychex from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $77.00 to $74.00 in a research note on Thursday, August 15th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $79.33.

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?

Get a free copy of the Zacks research report on Paychex (PAYX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Paychex (NASDAQ:PAYX)

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.

 


Latest News

Yu Darvish Receives Cortisone Shot for Elbow Impingement
Yu Darvish Receives Cortisone Shot for Elbow Impingement
Red Sox and Brandon Phillips Agree to Minor League Deal
Red Sox and Brandon Phillips Agree to Minor League Deal
Chris Sale Proves He is 2018 AL Cy Young Candidate
Chris Sale Proves He is 2018 AL Cy Young Candidate
Strong Results by Clint Frazier Could Keep Him with Yankees
Strong Results by Clint Frazier Could Keep Him with Yankees
Giants Closer Breaks Hand Punching Door Following Poor Outing
Giants Closer Breaks Hand Punching Door Following Poor Outing
Evan Longoria Out Six to Eight Weeks With Broken Hand
Evan Longoria Out Six to Eight Weeks With Broken Hand


 
© 2006-2019 BBNS.