Paychex (PAYX) to Release Quarterly Earnings on Wednesday
Paychex (NASDAQ:PAYX) is scheduled to announce its earnings results before the market opens on Wednesday, March 27th. Analysts expect the company to announce earnings of $0.89 per share for the quarter.
Paychex (NASDAQ:PAYX) last released its quarterly earnings results on Wednesday, December 19th. The business services provider reported $0.65 EPS for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.02. The business had revenue of $858.90 million for the quarter, compared to analyst estimates of $860.61 million. Paychex had a return on equity of 41.61% and a net margin of 27.99%. Paychex’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.59 EPS. On average, analysts expect Paychex to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.
NASDAQ PAYX opened at $79.11 on Wednesday. The company has a market cap of $28.48 billion, a P/E ratio of 31.02, a price-to-earnings-growth ratio of 3.17 and a beta of 1.04. Paychex has a one year low of $59.36 and a one year high of $79.67.
In other Paychex news, CEO Martin Mucci sold 50,000 shares of the stock in a transaction on Monday, February 4th. The stock was sold at an average price of $72.32, for a total value of $3,616,000.00. Following the transaction, the chief executive officer now directly owns 349,929 shares in the company, valued at approximately $25,306,865.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Jennifer R. Vossler sold 10,000 shares of the stock in a transaction on Wednesday, February 13th. The shares were sold at an average price of $74.98, for a total value of $749,800.00. Following the completion of the transaction, the vice president now owns 31,701 shares in the company, valued at $2,376,940.98. The disclosure for this sale can be found here. Insiders sold a total of 138,244 shares of company stock worth $10,227,583 over the last quarter. Corporate insiders own 11.80% of the company’s stock.
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.
See Also: What is the Producer Price Index (PPI)?
Receive News & Ratings for Paychex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Paychex and related companies with MarketBeat.com's FREE daily email newsletter.