Paychex, Inc. (NASDAQ:PAYX) issued its quarterly earnings data on Tuesday. The business services provider reported $0.62 EPS for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.02, Bloomberg Earnings reports. Paychex had a return on equity of 42.48% and a net margin of 25.93%. The firm had revenue of $816.80 million during the quarter, compared to the consensus estimate of $816.34 million. During the same period in the prior year, the business earned $0.60 EPS. The firm’s revenue was up 4.0% on a year-over-year basis.

Paychex (NASDAQ PAYX) opened at 61.99 on Wednesday. Paychex has a 1-year low of $52.78 and a 1-year high of $63.03. The company’s 50 day moving average is $57.62 and its 200-day moving average is $58.16. The firm has a market cap of $22.28 billion, a price-to-earnings ratio of 27.55 and a beta of 0.98.

A number of equities research analysts have issued reports on the company. Morgan Stanley upgraded Paychex from an “underweight” rating to an “equal weight” rating and set a $55.00 target price on the stock in a research note on Wednesday, August 16th. They noted that the move was a valuation call. Stifel Nicolaus restated a “hold” rating and set a $61.00 price target on shares of Paychex in a research report on Friday, August 18th. BMO Capital Markets restated a “hold” rating and set a $60.00 price target on shares of Paychex in a research report on Thursday, June 29th. Robert W. Baird reaffirmed a “hold” rating and issued a $64.00 price objective on shares of Paychex in a report on Wednesday. Finally, William Blair cut shares of Paychex from an “outperform” rating to a “market perform” rating in a report on Friday, July 21st. Five research analysts have rated the stock with a sell rating, twelve have given a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $59.27.

In related news, CEO Martin Mucci sold 33,294 shares of the company’s stock in a transaction dated Sunday, July 9th. The shares were sold at an average price of $57.40, for a total transaction of $1,911,075.60. Following the transaction, the chief executive officer now owns 254,618 shares in the company, valued at approximately $14,615,073.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Joseph M. Tucci sold 6,000 shares of the stock in a transaction dated Monday, July 10th. The stock was sold at an average price of $57.82, for a total transaction of $346,920.00. Following the sale, the director now directly owns 53,621 shares in the company, valued at approximately $3,100,366.22. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 107,497 shares of company stock valued at $6,200,889. 11.70% of the stock is currently owned by corporate insiders.

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Paychex Company Profile

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.

Earnings History for Paychex (NASDAQ:PAYX)

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