Paychex (NASDAQ:PAYX) issued its quarterly earnings results on Monday. The business services provider reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.04, MarketWatch Earnings reports. The business had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.11 billion. Paychex had a return on equity of 37.99% and a net margin of 26.66%. Paychex’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.97 earnings per share.
PAYX stock traded down $0.15 on Wednesday, reaching $95.27. 72,566 shares of the company were exchanged, compared to its average volume of 1,962,935. The firm has a market capitalization of $34.36 billion, a PE ratio of 32.50, a PEG ratio of 3.81 and a beta of 0.90. Paychex has a 12 month low of $60.00 and a 12 month high of $101.15. The stock’s fifty day moving average price is $94.70 and its 200 day moving average price is $89.89. 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 also recently disclosed a quarterly dividend, which was paid on Thursday, February 25th. Stockholders of record on Monday, February 1st were given a $0.62 dividend. The ex-dividend date was Friday, January 29th. This represents a $2.48 annualized dividend and a dividend yield of 2.60%. Paychex’s dividend payout ratio is 82.67%.
Several research firms have weighed in on PAYX. Deutsche Bank Aktiengesellschaft lifted their target price on Paychex from $81.00 to $98.00 and gave the company a “hold” rating in a research note on Monday, January 4th. Wells Fargo & Company initiated coverage on shares of Paychex in a research report on Friday, December 18th. They issued an “overweight” rating and a $105.00 target price for the company. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upped their price target on shares of Paychex from $93.00 to $105.00 in a research note on Tuesday, January 5th. Jefferies Financial Group reissued a “hold” rating and set a $95.00 price objective (up previously from $85.00) on shares of Paychex in a research report on Wednesday, December 23rd. Finally, BMO Capital Markets upped their target price on Paychex from $93.00 to $96.00 and gave the stock a “market perform” rating in a research report on Wednesday. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. Paychex presently has a consensus rating of “Hold” and an average target price of $93.00.
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.
Recommended Story: What is a dead cat bounce?
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.