Paychex (NASDAQ:PAYX) Announces Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Paychex (NASDAQ:PAYX) released its quarterly earnings results on Monday. The business services provider reported $0.96 EPS for the quarter, beating the consensus estimate of $0.92 by $0.04, MarketWatch Earnings reports. Paychex had a net margin of 26.66% and a return on equity of 37.99%. The firm had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the prior year, the firm earned $0.97 EPS. Paychex’s revenue for the quarter was down 2.7% on a year-over-year basis.

NASDAQ:PAYX traded down $0.65 on Wednesday, reaching $94.77. The stock had a trading volume of 168,967 shares, compared to its average volume of 1,962,935. The company has a market cap of $34.18 billion, a price-to-earnings ratio of 32.41, a P/E/G ratio of 3.81 and a beta of 0.90. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.28 and a quick ratio of 1.28. The firm’s fifty day moving average is $94.70 and its two-hundred day moving average is $89.89. Paychex has a 12-month low of $60.00 and a 12-month high of $101.15.

The company also recently announced a quarterly dividend, which was paid on Thursday, February 25th. Shareholders of record on Monday, February 1st were issued a $0.62 dividend. The ex-dividend date was Friday, January 29th. This represents a $2.48 dividend on an annualized basis and a yield of 2.62%. Paychex’s dividend payout ratio (DPR) is 82.67%.

Several analysts recently commented on the stock. Robert W. Baird upped their price target on shares of Paychex from $82.00 to $94.00 and gave the company an “outperform” rating in a research report on Wednesday. BMO Capital Markets boosted their price objective on shares of Paychex from $93.00 to $96.00 and gave the company a “market perform” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Paychex from $81.00 to $98.00 and gave the company a “hold” rating in a research note on Monday, January 4th. The Goldman Sachs Group boosted their price objective on shares of Paychex from $85.00 to $89.00 and gave the company a “sell” rating in a research note on Wednesday. Finally, Smith Barney Citigroup boosted their price objective on shares of Paychex from $93.00 to $105.00 in a research note on Tuesday, January 5th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company’s stock. Paychex has a consensus rating of “Hold” and an average target price of $93.00.

In other Paychex news, CEO Martin Mucci sold 50,000 shares of the company’s stock in a transaction dated Friday, February 26th. The shares were sold at an average price of $91.09, for a total value of $4,554,500.00. Also, VP John B. Gibson sold 82,488 shares of the company’s stock in a transaction dated Tuesday, February 2nd. The shares were sold at an average price of $89.79, for a total transaction of $7,406,597.52. 11.70% of the stock is currently owned by corporate insiders.

Paychex Company Profile

Paychex, Inc provides integrated human capital management solutions for human resources (HR), payroll, benefits, 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 for Paychex (NASDAQ:PAYX)

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