Paychex, Inc. (NASDAQ:PAYX) – Stock analysts at William Blair reduced their Q2 2018 earnings estimates for Paychex in a research note issued on Tuesday, Zacks Investment Research reports. William Blair analyst T. Mchugh now expects that the business services provider will post earnings per share of $0.60 for the quarter, down from their previous estimate of $0.61. William Blair also issued estimates for Paychex’s Q3 2018 earnings at $0.60 EPS, Q4 2018 earnings at $0.57 EPS, Q1 2019 earnings at $0.68 EPS, Q2 2019 earnings at $0.65 EPS and Q3 2019 earnings at $0.65 EPS.
Paychex (NASDAQ:PAYX) last announced its quarterly earnings data on Wednesday, March 29th. The business services provider reported $0.55 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.01. Paychex had a net margin of 25.40% and a return on equity of 41.00%. The business had revenue of $795.80 million for the quarter, compared to analyst estimates of $799.08 million. During the same period in the prior year, the business posted $0.50 earnings per share. Paychex’s revenue was up 5.7% compared to the same quarter last year. TRADEMARK VIOLATION WARNING: “Q2 2018 EPS Estimates for Paychex, Inc. (PAYX) Lowered by William Blair” was reported by BBNS and is the property of of BBNS. If you are accessing this story on another domain, it was illegally stolen and republished in violation of U.S. and international trademark and copyright laws. The legal version of this story can be read at https://baseballnewssource.com/markets/william-blair-comments-on-paychex-inc-s-q2-2018-earnings-payx-updated-updated/580574.html.
A number of other research analysts also recently issued reports on PAYX. Sanford C. Bernstein upgraded shares of Paychex from an “underperform” rating to a “market perform” rating and boosted their price target for the stock from $52.00 to $59.00 in a research report on Wednesday, January 11th. Royal Bank of Canada set a $55.00 price target on shares of Paychex and gave the stock a “sell” rating in a research report on Saturday, January 21st. Jefferies Group LLC restated a “sell” rating and issued a $50.00 price target on shares of Paychex in a research report on Tuesday, March 21st. Finally, BMO Capital Markets dropped their price target on shares of Paychex from $61.00 to $60.00 and set a “market perform” rating on the stock in a research report on Thursday, March 30th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $59.31.
Paychex (NASDAQ:PAYX) opened at 58.68 on Wednesday. The company has a 50-day moving average of $59.50 and a 200 day moving average of $59.29. Paychex has a one year low of $51.06 and a one year high of $63.03. The firm has a market capitalization of $21.08 billion, a price-to-earnings ratio of 26.67 and a beta of 0.86.
The business also recently announced a quarterly dividend, which will be paid on Thursday, May 25th. Investors of record on Wednesday, May 10th will be given a dividend of $0.46 per share. The ex-dividend date is Monday, May 8th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.14%. Paychex’s payout ratio is presently 85.58%.
In other Paychex news, Director Joseph M. Velli sold 9,000 shares of the company’s stock in a transaction on Thursday, April 20th. The shares were sold at an average price of $58.29, for a total transaction of $524,610.00. Following the transaction, the director now owns 30,624 shares in the company, valued at $1,785,072.96. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Mark Anthony Bottini sold 35,000 shares of the company’s stock in a transaction on Thursday, April 27th. The stock was sold at an average price of $60.01, for a total transaction of $2,100,350.00. Following the transaction, the vice president now owns 47,007 shares in the company, valued at approximately $2,820,890.07. The disclosure for this sale can be found here. 11.60% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tirschwell & Loewy Inc. increased its position in Paychex by 31.9% in the first quarter. Tirschwell & Loewy Inc. now owns 27,430 shares of the business services provider’s stock valued at $1,616,000 after buying an additional 6,630 shares during the last quarter. Teza Capital Management LLC acquired a new position in Paychex during the first quarter valued at $1,402,000. Hilton Capital Management LLC acquired a new position in Paychex during the first quarter valued at $1,363,000. Ropes Wealth Advisors LLC increased its position in Paychex by 129.9% in the first quarter. Ropes Wealth Advisors LLC now owns 4,417 shares of the business services provider’s stock valued at $260,000 after buying an additional 2,496 shares during the last quarter. Finally, Meadow Creek Investment Management LLC increased its position in Paychex by 3.8% in the first quarter. Meadow Creek Investment Management LLC now owns 50,120 shares of the business services provider’s stock valued at $2,952,000 after buying an additional 1,820 shares during the last quarter. Hedge funds and other institutional investors own 69.28% of the company’s stock.
Paychex Company Profile
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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