Equities analysts expect Paychex, Inc. (NASDAQ:PAYX) to report $0.68 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Seven analysts have provided estimates for Paychex’s earnings. The highest EPS estimate is $0.69 and the lowest is $0.68. Paychex reported earnings per share of $0.65 during the same quarter last year, which indicates a positive year-over-year growth rate of 4.6%. The business is scheduled to report its next quarterly earnings report on Wednesday, December 18th.

According to Zacks, analysts expect that Paychex will report full-year earnings of $3.10 per share for the current financial year, with EPS estimates ranging from $3.08 to $3.13. For the next fiscal year, analysts forecast that the business will report earnings of $3.35 per share, with EPS estimates ranging from $3.32 to $3.41. Zacks’ EPS calculations are a mean average based on a survey of research analysts that cover Paychex.

Paychex (NASDAQ:PAYX) last issued its earnings results on Wednesday, October 2nd. The business services provider reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.02. The business had revenue of $992.00 million during the quarter, compared to analyst estimates of $991.70 million. Paychex had a return on equity of 41.07% and a net margin of 27.04%. The firm’s revenue was up 15.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.67 EPS.

A number of equities analysts have issued reports on the company. Cowen assumed coverage on Paychex in a research note on Wednesday, September 11th. They set a “market perform” rating and a $74.00 price target for the company. Argus reiterated a “buy” rating and set a $92.00 price target on shares of Paychex in a research note on Thursday, October 3rd. Bank of America downgraded Paychex from a “neutral” rating to an “underperform” rating in a research note on Wednesday, June 26th. They noted that the move was a valuation call. Morgan Stanley downgraded Paychex from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $77.00 to $74.00 in a research note on Thursday, August 15th. Finally, William Blair reiterated a “market perform” rating on shares of Paychex in a research note on Thursday, June 27th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $79.33.

In other news, VP Robert L. Schrader sold 751 shares of the business’s stock in a transaction that occurred on Saturday, August 3rd. The stock was sold at an average price of $83.89, for a total value of $63,001.39. Following the transaction, the vice president now owns 9,166 shares in the company, valued at approximately $768,935.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Robert L. Schrader sold 609 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $83.88, for a total value of $51,082.92. Following the completion of the transaction, the vice president now owns 9,166 shares in the company, valued at approximately $768,844.08. The disclosure for this sale can be found here. Insiders have sold a total of 16,816 shares of company stock valued at $1,435,440 in the last quarter. Company insiders own 11.70% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Manchester Financial Inc. purchased a new position in shares of Paychex in the 2nd quarter worth approximately $29,000. Stonebridge Capital Advisors LLC purchased a new position in shares of Paychex in the 2nd quarter worth approximately $32,000. Lowe Wealth Advisors LLC boosted its stake in shares of Paychex by 466.3% in the 2nd quarter. Lowe Wealth Advisors LLC now owns 453 shares of the business services provider’s stock worth $37,000 after buying an additional 373 shares during the last quarter. FinTrust Capital Advisors LLC boosted its stake in shares of Paychex by 50.3% in the 2nd quarter. FinTrust Capital Advisors LLC now owns 466 shares of the business services provider’s stock worth $38,000 after buying an additional 156 shares during the last quarter. Finally, Sandy Spring Bank boosted its stake in shares of Paychex by 100.0% in the 2nd quarter. Sandy Spring Bank now owns 600 shares of the business services provider’s stock worth $50,000 after buying an additional 300 shares during the last quarter. Hedge funds and other institutional investors own 69.73% of the company’s stock.

PAYX stock traded up $1.12 during mid-day trading on Wednesday, reaching $83.20. 34,254 shares of the company traded hands, compared to its average volume of 1,850,242. The stock has a market cap of $29.40 billion, a price-to-earnings ratio of 29.29, a P/E/G ratio of 3.02 and a beta of 0.90. The company has a quick ratio of 1.17, a current ratio of 1.15 and a debt-to-equity ratio of 0.35. Paychex has a fifty-two week low of $61.32 and a fifty-two week high of $88.43. The firm’s 50 day moving average price is $82.08 and its 200 day moving average price is $83.51.

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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