Paychex (NASDAQ:PAYX) Releases Quarterly Earnings Results, Beats Expectations By $0.04 EPS

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

PAYX opened at $95.42 on Wednesday. Paychex has a one year low of $60.00 and a one year high of $101.15. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.28 and a current ratio of 1.28. The stock’s fifty day moving average is $94.70 and its 200-day moving average is $89.89. The company has a market capitalization 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 company also recently disclosed a quarterly dividend, which was paid on Thursday, February 25th. Stockholders of record on Monday, February 1st were paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date of this dividend was Friday, January 29th. Paychex’s dividend payout ratio is presently 82.67%.

PAYX has been the subject of several research reports. 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 report on Wednesday. Moffett Nathanson boosted their price objective on Paychex from $100.00 to $105.00 in a research report on Monday, December 28th. Deutsche Bank Aktiengesellschaft boosted their price objective on Paychex from $81.00 to $98.00 and gave the company a “hold” rating in a research report on Monday, January 4th. Bank of America boosted their price objective on Paychex from $70.00 to $81.00 in a research report on Monday, December 28th. Finally, Argus boosted their price objective on Paychex from $92.00 to $103.00 and gave the company a “buy” rating in a research report on Monday, January 4th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $91.31.

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