Brokerages Anticipate Paychex, Inc. (PAYX) to Post $0.64 Earnings Per Share

Analysts forecast that Paychex, Inc. (NASDAQ:PAYX) will post earnings of $0.64 per share for the current fiscal quarter, according to Zacks. Ten analysts have made estimates for Paychex’s earnings, with the highest EPS estimate coming in at $0.67 and the lowest estimate coming in at $0.62. Paychex posted earnings per share of $0.61 during the same quarter last year, which indicates a positive year-over-year growth rate of 4.9%. The firm is expected to announce its next quarterly earnings report 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 fiscal year, analysts anticipate that the business will report earnings of $3.09 per share, with EPS estimates ranging from $3.04 to $3.20. Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for Paychex.

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

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

In other news, VP Jennifer R. Vossler sold 10,755 shares of the firm’s stock in a transaction on Tuesday, February 5th. The stock was sold at an average price of $72.95, for a total value of $784,577.25. Following the transaction, the vice president now directly owns 32,456 shares in the company, valued at approximately $2,367,665.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Jennifer R. Vossler sold 6,000 shares of the firm’s stock in a transaction on Friday, January 18th. The stock was sold at an average price of $69.37, for a total value of $416,220.00. Following the completion of the transaction, the vice president now owns 27,701 shares in the company, valued at $1,921,618.37. The disclosure for this sale can be found here. Insiders sold a total of 209,022 shares of company stock valued at $15,943,936 in the last three months. Corporate insiders own 11.80% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PAYX. We Are One Seven LLC bought a new stake in Paychex during the fourth quarter valued at about $25,000. Liberty Wealth Management LLC bought a new stake in Paychex during the fourth quarter worth approximately $25,000. TCI Wealth Advisors Inc. increased its stake in Paychex by 404.8% during the first quarter. TCI Wealth Advisors Inc. now owns 318 shares of the business services provider’s stock worth $26,000 after acquiring an additional 255 shares during the last quarter. Baldwin Brothers Inc. MA bought a new stake in Paychex during the fourth quarter worth approximately $27,000. Finally, Loeb Partners Corp bought a new stake in Paychex during the fourth quarter worth approximately $39,000. Institutional investors own 68.64% of the company’s stock.

Shares of NASDAQ PAYX opened at $81.35 on Tuesday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.31. Paychex has a 52 week low of $59.55 and a 52 week high of $81.59. The firm has a market capitalization of $29.00 billion, a P/E ratio of 31.90, a P/E/G ratio of 3.14 and a beta of 1.04.

About Paychex

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.

Further Reading: Penny Stocks, Risk and Reward Factors

Get a free copy of the Zacks research report on Paychex (PAYX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Paychex (NASDAQ:PAYX)

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.