Zacks: Analysts Anticipate Paychex, Inc. (NASDAQ:PAYX) Will Post Earnings of $0.69 Per Share
Wall Street analysts expect Paychex, Inc. (NASDAQ:PAYX) to post earnings of $0.69 per share for the current fiscal quarter, according to Zacks. Seven analysts have issued estimates for Paychex’s earnings, with the highest EPS estimate coming in at $0.72 and the lowest estimate coming in at $0.68. Paychex reported earnings of $0.67 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 3%. The business 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 year, with EPS estimates ranging from $3.08 to $3.10. For the next fiscal year, analysts anticipate that the business will report earnings of $3.34 per share, with EPS estimates ranging from $3.30 to $3.41. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research firms that that provide coverage for Paychex.
Paychex (NASDAQ:PAYX) last released its earnings results on Wednesday, June 26th. The business services provider reported $0.63 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.65 by ($0.02). Paychex had a net margin of 27.42% and a return on equity of 40.99%. The company had revenue of $980.40 million for the quarter, compared to the consensus estimate of $978.94 million. During the same period in the prior year, the company earned $0.61 earnings per share. The firm’s revenue was up 15.9% on a year-over-year basis.
Shares of Paychex stock traded down $0.43 on Wednesday, reaching $85.23. 923,847 shares of the company traded hands, compared to its average volume of 1,932,477. Paychex has a 52 week low of $61.32 and a 52 week high of $88.43. The business has a 50 day moving average of $85.59. The stock has a market cap of $30.61 billion, a price-to-earnings ratio of 30.01, a PEG ratio of 3.09 and a beta of 0.86. The company has a quick ratio of 1.11, a current ratio of 1.17 and a debt-to-equity ratio of 0.30.
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 22nd. Shareholders of record on Thursday, August 1st will be issued a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 2.91%. The ex-dividend date of this dividend is Wednesday, July 31st. Paychex’s payout ratio is 87.32%.
In other Paychex news, VP Laurie L. Zaucha sold 5,859 shares of the firm’s stock in a transaction on 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 transaction, the vice president now directly owns 44,280 shares of the company’s stock, valued at approximately $3,688,966.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director David J. S. Flaschen sold 18,154 shares of the firm’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $84.74, for a total transaction of $1,538,369.96. Following the completion of the transaction, the director now directly owns 34,223 shares of the company’s stock, valued at $2,900,057.02. The disclosure for this sale can be found here. Over the last three months, insiders sold 100,579 shares of company stock valued at $8,552,895. Insiders own 11.80% of the company’s stock.
A number of large investors have recently made changes to their positions in PAYX. Lunia Capital LP raised its position in shares of Paychex by 8,881.0% during the 4th quarter. Lunia Capital LP now owns 10,859,007 shares of the business services provider’s stock valued at $10,859,000 after buying an additional 10,738,096 shares in the last quarter. Ronna Sue Cohen raised its position in Paychex by 7,736.0% in the 1st quarter. Ronna Sue Cohen now owns 4,003,822 shares of the business services provider’s stock worth $4,004,000 after purchasing an additional 3,952,727 shares during the period. BlackRock Inc. raised its position in Paychex by 12.3% in the 1st quarter. BlackRock Inc. now owns 31,465,698 shares of the business services provider’s stock worth $2,523,549,000 after purchasing an additional 3,435,500 shares during the period. Norges Bank purchased a new position in Paychex in the 4th quarter worth $191,026,000. Finally, Pennsylvania Trust Co raised its position in Paychex by 6,076.7% in the 1st quarter. Pennsylvania Trust Co now owns 1,222,308 shares of the business services provider’s stock worth $51,110,000 after purchasing an additional 1,202,519 shares during the period. 69.69% of the stock is owned by hedge funds and other institutional investors.
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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