Paychex (NASDAQ:PAYX) announced its earnings results on Monday. The business services provider reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.04, MarketWatch Earnings reports. The business had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.11 billion. Paychex had a return on equity of 37.99% and a net margin of 26.66%. The business’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.97 EPS.
Shares of Paychex stock opened at $95.42 on Wednesday. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.28. Paychex has a twelve month low of $60.00 and a twelve month high of $101.15. The business has a 50-day moving average price of $94.70 and a 200 day moving average price of $89.89. The firm has a market cap of $34.41 billion, a PE ratio of 32.57, a P/E/G ratio of 3.81 and a beta of 0.90.
The firm also recently declared a quarterly dividend, which was paid on Thursday, February 25th. Investors of record on Monday, February 1st were paid a $0.62 dividend. The ex-dividend date of this dividend was Friday, January 29th. This represents a $2.48 annualized dividend and a dividend yield of 2.60%. Paychex’s dividend payout ratio is presently 82.67%.
A number of research firms have recently weighed in on PAYX. Wells Fargo & Company began coverage on Paychex in a research report on Friday, December 18th. They issued an “overweight” rating and a $105.00 price objective for the company. Bank of America raised their price objective on Paychex from $70.00 to $81.00 in a research report on Monday, December 28th. Deutsche Bank Aktiengesellschaft raised their target price on Paychex from $81.00 to $98.00 and gave the stock a “hold” rating in a research note on Monday, January 4th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised their target price on Paychex from $93.00 to $105.00 in a research note on Tuesday, January 5th. Finally, Wolfe Research lowered Paychex from a “market perform” rating to an “underperform” rating and set a $94.00 target price for the company. in a research note on Wednesday. Three research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. Paychex presently has an average rating of “Hold” and a consensus price target of $91.31.
Paychex Company Profile
Paychex, Inc provides integrated human capital management solutions for human resources (HR), payroll, benefits, 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.
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