Wall Street brokerages expect Paychex, Inc. (NASDAQ:PAYX) to report earnings of $0.69 per share for the current quarter, according to Zacks. Seven analysts have made estimates for Paychex’s earnings, with the lowest EPS estimate coming in at $0.68 and the highest estimate coming in at $0.72. Paychex reported earnings per share of $0.67 in the same quarter last year, which would suggest a positive year over year growth rate of 3%. The firm is expected to issue its next quarterly earnings results on Tuesday, October 1st.
On average, analysts expect that Paychex will report full year earnings of $3.09 per share for the current fiscal year, with EPS estimates ranging from $3.08 to $3.10. For the next financial year, analysts expect that the company will post earnings of $3.34 per share, with EPS estimates ranging from $3.30 to $3.41. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms that follow Paychex.
Paychex (NASDAQ:PAYX) last released its quarterly earnings results on Wednesday, June 26th. The business services provider reported $0.63 EPS for the quarter, missing the Zacks’ consensus estimate of $0.65 by ($0.02). The business had revenue of $980.40 million for the quarter, compared to the consensus estimate of $978.94 million. Paychex had a return on equity of 40.99% and a net margin of 27.42%. The firm’s revenue was up 15.9% on a year-over-year basis. During the same quarter last year, the company earned $0.61 earnings per share.
In related news, CFO Efrain Rivera sold 476 shares of Paychex stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $85.72, for a total value of $40,802.72. Following the sale, the chief financial officer now owns 62,192 shares of the company’s stock, valued at $5,331,098.24. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Laurie L. Zaucha sold 5,859 shares of Paychex stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $83.31, for a total value of $488,113.29. Following the completion of the sale, the vice president now directly owns 44,280 shares in the company, valued at approximately $3,688,966.80. The disclosure for this sale can be found here. Insiders have sold a total of 100,579 shares of company stock worth $8,552,895 in the last ninety days. 11.80% of the stock is currently owned by company insiders.
Large investors have recently added to or reduced their stakes in the stock. Liberty Wealth Management LLC acquired a new stake in shares of Paychex in the fourth quarter valued at about $25,000. FinTrust Capital Advisors LLC grew its holdings in Paychex by 64.9% during the first quarter. FinTrust Capital Advisors LLC now owns 310 shares of the business services provider’s stock worth $25,000 after purchasing an additional 122 shares during the period. Glassman Wealth Services grew its holdings in Paychex by 125.0% during the first quarter. Glassman Wealth Services now owns 306 shares of the business services provider’s stock worth $25,000 after purchasing an additional 170 shares during the period. TCI Wealth Advisors Inc. grew its holdings in Paychex by 404.8% during the first quarter. TCI Wealth Advisors Inc. now owns 318 shares of the business services provider’s stock worth $26,000 after purchasing an additional 255 shares during the period. Finally, Ellevest Inc. bought a new position in Paychex during the first quarter worth about $27,000. 69.69% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ PAYX traded down $0.43 during trading hours on Wednesday, reaching $85.23. 923,847 shares of the company’s stock were exchanged, compared to its average volume of 1,932,477. The company has a market cap of $30.61 billion, a PE ratio of 30.01, a PEG ratio of 3.09 and a beta of 0.86. Paychex has a one year low of $61.32 and a one year high of $88.43. The business’s fifty day simple moving average is $85.59. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.17.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 22nd. Investors of record on Thursday, August 1st will be paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 2.91%. The ex-dividend date is Wednesday, July 31st. Paychex’s payout ratio is presently 87.32%.
Paychex Company Profile
Paychex, Inc provides payroll, human resource (HR), retirement, 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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