Paychex, Inc. (NASDAQ:PAYX) – Stock analysts at William Blair reduced their Q2 2018 earnings per share (EPS) estimates for Paychex in a research report issued on Tuesday, Zacks Investment Research reports. William Blair analyst T. Mchugh now forecasts that the business services provider will earn $0.60 per share for the quarter, down from their previous forecast 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 released its earnings results on Wednesday, March 29th. The business services provider reported $0.55 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.01. Paychex had a return on equity of 41.00% and a net margin of 25.40%. The company earned $795.80 million during the quarter, compared to analysts’ expectations of $799.08 million. During the same period last year, the firm earned $0.50 EPS. The business’s revenue for the quarter was up 5.7% on a year-over-year basis.
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PAYX has been the topic of a number of other research reports. Jefferies Group LLC reissued a “sell” rating and set a $50.00 price objective on shares of Paychex in a research report on Tuesday, March 21st. Compass Point increased their price objective on shares of Paychex from $45.00 to $48.00 and gave the stock a “sell” rating in a research report on Thursday, December 22nd. Wells Fargo & Co reissued a “market perform” rating and set a $61.00 price objective (up previously from $57.00) on shares of Paychex in a research report on Friday, December 23rd. Sanford C. Bernstein raised shares of Paychex from an “underperform” rating to a “market perform” rating and increased their price objective for the stock from $52.00 to $59.00 in a research report on Wednesday, January 11th. Finally, Royal Bank of Canada increased their price objective on shares of Paychex from $53.00 to $54.00 and gave the stock an “underperform” rating in a research report on Thursday, December 22nd. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. Paychex presently has an average rating of “Hold” and a consensus price target of $59.31.
Paychex (NASDAQ:PAYX) traded up 0.87% on Wednesday, hitting $59.16. The stock had a trading volume of 1,575,231 shares. Paychex has a 12-month low of $51.06 and a 12-month high of $63.03. The company has a 50 day moving average of $60.42 and a 200 day moving average of $59.10. The company has a market capitalization of $21.25 billion, a PE ratio of 26.89 and a beta of 0.86.
In related news, VP Jennifer R. Vossler sold 5,876 shares of the firm’s stock in a transaction dated Wednesday, January 25th. The shares were sold at an average price of $62.01, for a total value of $364,370.76. Following the transaction, the vice president now owns 23,483 shares of the company’s stock, valued at approximately $1,456,180.83. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Joseph M. Velli sold 9,000 shares of the firm’s stock in a transaction dated Thursday, April 20th. The shares were sold at an average price of $58.29, for a total transaction of $524,610.00. Following the completion of the transaction, the director now directly owns 30,624 shares in the company, valued at approximately $1,785,072.96. The disclosure for this sale can be found here. In the last ninety days, insiders sold 25,726 shares of company stock worth $1,556,039. 11.60% of the stock is owned by insiders.
A number of large investors have recently bought and sold shares of PAYX. State Street Corp raised its stake in Paychex by 6.4% in the fourth quarter. State Street Corp now owns 13,895,703 shares of the business services provider’s stock valued at $845,961,000 after buying an additional 833,967 shares during the period. FMR LLC raised its stake in Paychex by 37.8% in the fourth quarter. FMR LLC now owns 9,278,073 shares of the business services provider’s stock valued at $564,848,000 after buying an additional 2,545,554 shares during the period. Wells Fargo & Company MN raised its stake in Paychex by 2.3% in the third quarter. Wells Fargo & Company MN now owns 8,555,752 shares of the business services provider’s stock valued at $495,121,000 after buying an additional 189,421 shares during the period. American International Group Inc. raised its stake in Paychex by 4.6% in the third quarter. American International Group Inc. now owns 7,687,395 shares of the business services provider’s stock valued at $444,870,000 after buying an additional 338,856 shares during the period. Finally, Bahl & Gaynor Inc. raised its stake in Paychex by 3.6% in the third quarter. Bahl & Gaynor Inc. now owns 3,156,538 shares of the business services provider’s stock valued at $182,669,000 after buying an additional 108,917 shares during the period. Hedge funds and other institutional investors own 69.28% of the company’s stock.
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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