Analysts predict that Paychex, Inc. (NASDAQ:PAYX) will report earnings of $0.65 per share for the current fiscal quarter, according to Zacks Investment Research. Eleven analysts have made estimates for Paychex’s earnings. The lowest EPS estimate is $0.64 and the highest is $0.66. Paychex posted earnings per share of $0.62 in the same quarter last year, which suggests a positive year-over-year growth rate of 4.8%. The business is expected to issue its next earnings results before the market opens on Tuesday, October 2nd.

On average, analysts expect that Paychex will report full-year earnings of $2.84 per share for the current year, with EPS estimates ranging from $2.83 to $2.86. For the next financial year, analysts forecast that the business will report earnings of $3.07 per share, with EPS estimates ranging from $3.01 to $3.19. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that cover Paychex.

Paychex (NASDAQ:PAYX) last issued its quarterly earnings data on Wednesday, June 27th. The business services provider reported $0.61 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.01). The company had revenue of $871.10 million for the quarter, compared to analysts’ expectations of $868.60 million. Paychex had a net margin of 27.62% and a return on equity of 44.29%. The firm’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.54 earnings per share.

PAYX has been the topic of a number of research analyst reports. BidaskClub downgraded shares of Paychex from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 29th. Morgan Stanley boosted their price objective on shares of Paychex from $66.00 to $67.00 and gave the company an “equal weight” rating in a research report on Thursday, June 28th. Guggenheim initiated coverage on shares of Paychex in a research report on Monday, August 20th. They set a “neutral” rating and a $75.00 price objective on the stock. Wells Fargo & Co boosted their price objective on shares of Paychex from $64.00 to $67.00 and gave the company a “market perform” rating in a research report on Thursday, June 28th. Finally, Stifel Nicolaus boosted their price objective on shares of Paychex from $66.00 to $69.00 and gave the company a “hold” rating in a research report on Thursday, June 28th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Paychex currently has an average rating of “Hold” and a consensus price target of $68.42.

Paychex stock traded down $0.13 during mid-day trading on Wednesday, reaching $73.59. 1,977,692 shares of the company traded hands, compared to its average volume of 2,135,213. The company has a market cap of $26.76 billion, a P/E ratio of 29.02, a PEG ratio of 3.20 and a beta of 0.96. Paychex has a 52-week low of $59.34 and a 52-week high of $75.73.

In other news, CEO Martin Mucci sold 74,742 shares of the company’s stock in a transaction dated Friday, July 6th. The shares were sold at an average price of $69.66, for a total value of $5,206,527.72. Following the sale, the chief executive officer now directly owns 276,754 shares of the company’s stock, valued at approximately $19,278,683.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP John B. Gibson sold 47,250 shares of the company’s stock in a transaction dated Wednesday, September 5th. The stock was sold at an average price of $73.50, for a total transaction of $3,472,875.00. The disclosure for this sale can be found here. Insiders sold a total of 248,559 shares of company stock worth $17,599,054 over the last ninety days. Insiders own 11.80% of the company’s stock.

A number of institutional investors have recently made changes to their positions in PAYX. Korea Investment CORP boosted its stake in Paychex by 16.8% in the 1st quarter. Korea Investment CORP now owns 132,720 shares of the business services provider’s stock worth $8,174,000 after purchasing an additional 19,100 shares in the last quarter. KBC Group NV boosted its holdings in Paychex by 25.9% in the first quarter. KBC Group NV now owns 31,740 shares of the business services provider’s stock worth $1,955,000 after acquiring an additional 6,521 shares in the last quarter. Scout Investments Inc. boosted its holdings in Paychex by 96.1% in the first quarter. Scout Investments Inc. now owns 259,865 shares of the business services provider’s stock worth $16,005,000 after acquiring an additional 127,370 shares in the last quarter. Lee Financial Co boosted its holdings in Paychex by 14.3% in the first quarter. Lee Financial Co now owns 23,710 shares of the business services provider’s stock worth $1,460,000 after acquiring an additional 2,966 shares in the last quarter. Finally, Chicago Capital LLC acquired a new stake in Paychex in the first quarter worth about $1,864,000. Institutional investors own 66.95% of the company’s stock.

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.

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Earnings History and Estimates for Paychex (NASDAQ:PAYX)

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