Equities analysts expect Paychex (NASDAQ:PAYX) to post earnings per share of $0.61 for the current fiscal quarter, according to Zacks. Thirteen analysts have provided estimates for Paychex’s earnings, with estimates ranging from $0.60 to $0.67. Paychex posted earnings of $0.54 per share during the same quarter last year, which would suggest a positive year over year growth rate of 13%. The company is scheduled to report its next quarterly earnings results on Wednesday, June 27th.
On average, analysts expect that Paychex will report full year earnings of $2.49 per share for the current year, with EPS estimates ranging from $2.44 to $2.55. For the next financial year, analysts expect that the company will post earnings of $2.78 per share, with EPS estimates ranging from $2.72 to $2.98. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of analysts that follow Paychex.
Paychex (NASDAQ:PAYX) last announced its quarterly earnings data on Monday, March 26th. The business services provider reported $0.63 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.01. Paychex had a net margin of 27.22% and a return on equity of 43.42%. The business had revenue of $866.50 million for the quarter, compared to analyst estimates of $853.99 million. During the same period in the prior year, the business posted $0.55 earnings per share. Paychex’s revenue was up 8.9% compared to the same quarter last year.
In other Paychex news, insider Michael E. Gioja sold 110,000 shares of the stock in a transaction on Thursday, March 29th. The shares were sold at an average price of $61.63, for a total value of $6,779,300.00. Following the sale, the insider now directly owns 170,974 shares in the company, valued at $10,537,127.62. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 11.70% of the company’s stock.
Several hedge funds have recently modified their holdings of PAYX. Field & Main Bank acquired a new stake in Paychex in the 4th quarter worth about $101,000. Acadian Asset Management LLC purchased a new stake in Paychex during the 4th quarter valued at $109,000. Avestar Capital LLC purchased a new stake in Paychex during the 4th quarter valued at $126,000. Financial Gravity Companies Inc. purchased a new stake in Paychex during the 4th quarter valued at $127,000. Finally, Calton & Associates Inc. purchased a new stake in Paychex during the 4th quarter valued at $151,000. 68.66% of the stock is owned by institutional investors.
NASDAQ PAYX traded down $0.59 during trading hours on Tuesday, hitting $60.34. The company’s stock had a trading volume of 2,980,188 shares, compared to its average volume of 2,627,755. Paychex has a twelve month low of $54.20 and a twelve month high of $73.10. The firm has a market capitalization of $21,678.65, a P/E ratio of 27.43, a P/E/G ratio of 3.11 and a beta of 0.98.
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Paychex, Inc provides payroll, human resource (HR), retirement, and insurance services for small to medium-sized businesses in the United States and Germany. The company offers payroll processing services that include payroll tax administration services; employee payment services; and regulatory compliance services, such as new-hire reporting and garnishment processing.
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