Analysts expect that Paychex, Inc. (NASDAQ:PAYX) will post $0.64 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Ten analysts have made estimates for Paychex’s earnings, with the lowest EPS estimate coming in at $0.62 and the highest estimate coming in at $0.67. Paychex posted earnings of $0.61 per share during the same quarter last year, which would indicate a positive year over year growth rate of 4.9%. The company is scheduled to announce its next quarterly earnings results on Wednesday, June 26th.

According to Zacks, analysts expect that Paychex will report full year earnings of $2.85 per share for the current year, with EPS estimates ranging from $2.81 to $2.89. For the next year, analysts anticipate that the company will post earnings of $3.09 per share, with EPS estimates ranging from $3.04 to $3.20. Zacks’ EPS calculations are a mean average based on a survey of sell-side research analysts that cover Paychex.

Paychex (NASDAQ:PAYX) last posted its earnings results on Wednesday, March 27th. The business services provider reported $0.89 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.89. The firm had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.07 billion. Paychex had a net margin of 28.19% and a return on equity of 43.20%. The company’s revenue was up 14.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.63 EPS.

Several brokerages have issued reports on PAYX. Credit Suisse Group increased their price objective on shares of Paychex from $82.00 to $84.00 and gave the company an “outperform” rating in a research report on Thursday, March 28th. Barclays increased their price objective on shares of Paychex from $78.00 to $80.00 and gave the company an “equal weight” rating in a research report on Monday, April 1st. BMO Capital Markets reaffirmed a “market perform” rating on shares of Paychex in a research report on Thursday, December 20th. Finally, Bank of America raised shares of Paychex from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $64.00 to $68.00 in a research report on Tuesday, January 8th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $74.14.

In other news, VP Jennifer R. Vossler sold 6,000 shares of the stock in a transaction that occurred on Friday, January 18th. The stock was sold at an average price of $69.37, for a total transaction of $416,220.00. Following the completion of the transaction, the vice president now directly owns 27,701 shares in the company, valued at approximately $1,921,618.37. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Joseph M. Tucci sold 6,250 shares of the stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $82.29, for a total value of $514,312.50. Following the transaction, the director now owns 56,117 shares of the company’s stock, valued at $4,617,867.93. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 215,272 shares of company stock valued at $16,458,249. Company insiders own 11.80% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Exeter Financial LLC lifted its stake in Paychex by 1.0% during the first quarter. Exeter Financial LLC now owns 12,805 shares of the business services provider’s stock worth $1,027,000 after purchasing an additional 128 shares during the last quarter. Steinberg Global Asset Management lifted its stake in Paychex by 13.8% during the first quarter. Steinberg Global Asset Management now owns 114,582 shares of the business services provider’s stock worth $7,057,000 after purchasing an additional 13,863 shares during the last quarter. Hancock Whitney Corp lifted its stake in Paychex by 14.4% during the fourth quarter. Hancock Whitney Corp now owns 35,647 shares of the business services provider’s stock worth $2,322,000 after purchasing an additional 4,485 shares during the last quarter. Cetera Advisors LLC lifted its stake in Paychex by 2.1% during the fourth quarter. Cetera Advisors LLC now owns 13,439 shares of the business services provider’s stock worth $884,000 after purchasing an additional 281 shares during the last quarter. Finally, Buckingham Capital Management Inc. lifted its stake in Paychex by 1.0% during the third quarter. Buckingham Capital Management Inc. now owns 18,175 shares of the business services provider’s stock worth $1,339,000 after purchasing an additional 183 shares during the last quarter. Hedge funds and other institutional investors own 68.66% of the company’s stock.

PAYX traded down $0.78 on Tuesday, reaching $81.59. 1,188,273 shares of the company’s stock were exchanged, compared to its average volume of 1,945,500. The company has a market cap of $29.58 billion, a PE ratio of 32.00, a price-to-earnings-growth ratio of 3.20 and a beta of 1.04. Paychex has a twelve month low of $59.55 and a twelve month high of $82.64. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.11 and a current ratio of 1.11.

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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Earnings History and Estimates for Paychex (NASDAQ:PAYX)

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