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.
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.
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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