Paychex, Inc. (NASDAQ:PAYX) Expected to Post Quarterly Sales of $990.93 Million
Wall Street brokerages expect that Paychex, Inc. (NASDAQ:PAYX) will report sales of $990.93 million for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Paychex’s earnings, with the lowest sales estimate coming in at $987.80 million and the highest estimate coming in at $995.16 million. Paychex reported sales of $862.80 million in the same quarter last year, which indicates a positive year over year growth rate of 14.9%. The firm is expected to announce its next quarterly earnings results on Tuesday, October 1st.
On average, analysts expect that Paychex will report full year sales of $4.16 billion for the current year, with estimates ranging from $4.15 billion to $4.18 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $4.40 billion, with estimates ranging from $4.36 billion to $4.44 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for Paychex.
Paychex (NASDAQ:PAYX) last posted its quarterly earnings results on Wednesday, June 26th. The business services provider reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.02). Paychex had a return on equity of 40.99% and a net margin of 27.42%. The business had revenue of $980.40 million for the quarter, compared to the consensus estimate of $978.94 million. During the same quarter in the previous year, the business posted $0.61 EPS. The company’s revenue for the quarter was up 15.9% on a year-over-year basis.
In other news, CFO Efrain Rivera sold 476 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $85.72, for a total transaction of $40,802.72. Following the completion of the sale, the chief financial officer now owns 62,192 shares in the company, valued at $5,331,098.24. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Stephanie L. Schaeffer sold 14,893 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $86.76, for a total value of $1,292,116.68. Following the sale, the insider now owns 63,039 shares of the company’s stock, valued at approximately $5,469,263.64. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 100,579 shares of company stock valued at $8,552,895. Corporate insiders own 11.80% of the company’s stock.
Several large investors have recently modified their holdings of PAYX. Liberty Wealth Management LLC acquired a new stake in shares of Paychex in the fourth quarter valued at approximately $25,000. FinTrust Capital Advisors LLC raised its position in shares of Paychex by 64.9% in the first quarter. FinTrust Capital Advisors LLC now owns 310 shares of the business services provider’s stock valued at $25,000 after buying an additional 122 shares in the last quarter. Glassman Wealth Services raised its position in shares of Paychex by 125.0% in the first quarter. Glassman Wealth Services now owns 306 shares of the business services provider’s stock valued at $25,000 after buying an additional 170 shares in the last quarter. TCI Wealth Advisors Inc. raised its position in shares of Paychex by 404.8% in the first quarter. TCI Wealth Advisors Inc. now owns 318 shares of the business services provider’s stock valued at $26,000 after buying an additional 255 shares in the last quarter. Finally, Ellevest Inc. acquired a new stake in shares of Paychex in the first quarter valued at approximately $27,000. Institutional investors own 69.69% of the company’s stock.
Paychex stock traded down $0.43 during midday trading on Friday, reaching $85.23. 923,847 shares of the company’s stock were exchanged, compared to its average volume of 1,932,477. Paychex has a 52 week low of $61.32 and a 52 week high of $88.43. The company has a current ratio of 1.17, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. The company has a market cap of $30.61 billion, a price-to-earnings ratio of 30.01, a price-to-earnings-growth ratio of 3.09 and a beta of 0.86. The firm has a 50-day moving average price of $85.59.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 22nd. Stockholders of record on Thursday, August 1st will be issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date is Wednesday, July 31st. Paychex’s dividend payout ratio is presently 87.32%.
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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