Paychex (NASDAQ:PAYX) Issues Earnings Results

Paychex (NASDAQ:PAYX) issued its earnings results on Monday. The business services provider reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.04, MarketWatch Earnings reports. Paychex had a net margin of 26.66% and a return on equity of 37.99%. The firm had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same quarter last year, the business earned $0.97 earnings per share. The company’s quarterly revenue was down 2.7% on a year-over-year basis.

Shares of PAYX opened at $95.42 on Wednesday. The firm’s 50 day simple moving average is $94.70 and its 200 day simple moving average is $89.89. The company has a market capitalization of $34.41 billion, a P/E ratio of 32.57, a P/E/G ratio of 3.81 and a beta of 0.90. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.28 and a quick ratio of 1.28. Paychex has a 1-year low of $60.00 and a 1-year high of $101.15.

The business also recently announced a quarterly dividend, which was paid on Thursday, February 25th. Investors of record on Monday, February 1st were paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date was Friday, January 29th. Paychex’s dividend payout ratio is currently 82.67%.

PAYX has been the topic of a number of recent analyst reports. Jefferies Financial Group reissued a “hold” rating and issued a $95.00 price target (up from $85.00) on shares of Paychex in a report on Wednesday, December 23rd. Smith Barney Citigroup increased their price target on shares of Paychex from $93.00 to $105.00 in a report on Tuesday, January 5th. Moffett Nathanson increased their price target on shares of Paychex from $100.00 to $105.00 in a report on Monday, December 28th. BMO Capital Markets increased their price target on shares of Paychex from $93.00 to $96.00 and gave the stock a “market perform” rating in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Paychex from $81.00 to $98.00 and gave the stock a “hold” rating in a report on Monday, January 4th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. Paychex presently has a consensus rating of “Hold” and an average target price of $91.44.

In other Paychex news, VP John B. Gibson sold 82,488 shares of Paychex stock in a transaction that occurred on Tuesday, February 2nd. The shares were sold at an average price of $89.79, for a total transaction of $7,406,597.52. Also, CEO Martin Mucci sold 50,000 shares of Paychex stock in a transaction that occurred on Friday, February 26th. The stock was sold at an average price of $91.09, for a total transaction of $4,554,500.00. Company insiders own 11.70% of the company’s stock.

About Paychex

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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Earnings History for Paychex (NASDAQ:PAYX)

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