Paychex (PAYX) Scheduled to Post Quarterly Earnings on Wednesday

Paychex (NASDAQ:PAYXGet Rating) will be releasing its earnings data before the market opens on Wednesday, June 29th. Analysts expect Paychex to post earnings of $0.79 per share for the quarter. Paychex has set its FY 2022 guidance at $3.724-$3.739 EPS.Individual interested in participating in the company’s earnings conference call can do so using this link.

Paychex (NASDAQ:PAYXGet Rating) last posted its earnings results on Wednesday, March 30th. The business services provider reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.11. Paychex had a return on equity of 43.02% and a net margin of 30.23%. The business had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.22 billion. During the same quarter in the previous year, the firm earned $0.96 earnings per share. The business’s revenue was up 14.8% compared to the same quarter last year. On average, analysts expect Paychex to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Shares of PAYX opened at $116.28 on Wednesday. The stock’s 50 day moving average is $124.46 and its two-hundred day moving average is $125.06. The firm has a market capitalization of $41.98 billion, a PE ratio of 31.01, a P/E/G ratio of 3.70 and a beta of 0.98. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.24. Paychex has a twelve month low of $102.58 and a twelve month high of $141.92.

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 26th. Shareholders of record on Thursday, May 12th were issued a $0.79 dividend. The ex-dividend date of this dividend was Wednesday, May 11th. This is an increase from Paychex’s previous quarterly dividend of $0.66. This represents a $3.16 annualized dividend and a yield of 2.72%. Paychex’s payout ratio is 84.27%.

In other Paychex news, VP Karen E. Saunders-Mcclendon sold 203 shares of the firm’s stock in a transaction that occurred on Friday, April 15th. The shares were sold at an average price of $136.69, for a total transaction of $27,748.07. Following the completion of the transaction, the vice president now owns 2,994 shares in the company, valued at approximately $409,249.86. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Michael E. Gioja sold 26,000 shares of Paychex stock in a transaction on Tuesday, April 5th. The shares were sold at an average price of $141.26, for a total transaction of $3,672,760.00. Following the completion of the sale, the vice president now owns 52,349 shares of the company’s stock, valued at approximately $7,394,819.74. The disclosure for this sale can be found here. 11.50% of the stock is currently owned by company insiders.

Several hedge funds have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company boosted its stake in shares of Paychex by 1.3% during the first quarter. The Manufacturers Life Insurance Company now owns 256,909 shares of the business services provider’s stock valued at $35,060,000 after purchasing an additional 3,183 shares during the period. Capital International Sarl raised its holdings in Paychex by 2.0% in the first quarter. Capital International Sarl now owns 18,115 shares of the business services provider’s stock worth $2,472,000 after purchasing an additional 359 shares in the last quarter. Orion Portfolio Solutions LLC raised its holdings in Paychex by 5.8% in the first quarter. Orion Portfolio Solutions LLC now owns 7,640 shares of the business services provider’s stock worth $1,043,000 after purchasing an additional 422 shares in the last quarter. Avalon Investment & Advisory increased its holdings in shares of Paychex by 1.1% during the first quarter. Avalon Investment & Advisory now owns 142,312 shares of the business services provider’s stock valued at $19,421,000 after acquiring an additional 1,601 shares in the last quarter. Finally, Kidder Stephen W bought a new position in shares of Paychex during the first quarter valued at $297,000. Institutional investors own 80.43% of the company’s stock.

A number of analysts have recently commented on PAYX shares. StockNews.com started coverage on Paychex in a report on Thursday, March 31st. They set a “hold” rating for the company. Robert W. Baird raised their price objective on shares of Paychex from $137.00 to $142.00 in a research note on Thursday, March 31st. Cowen reduced their target price on shares of Paychex from $151.00 to $140.00 and set an “outperform” rating for the company in a report on Tuesday. Morgan Stanley raised their price objective on shares of Paychex from $135.00 to $140.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 31st. Finally, Bank of America raised shares of Paychex from an “underperform” rating to a “neutral” rating and set a $125.00 target price for the company in a research note on Wednesday, March 9th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $128.67.

About Paychex (Get Rating)

Paychex, Inc provides integrated human capital management solutions for human resources (HR), payroll, benefits, 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.

Further Reading

Earnings History for Paychex (NASDAQ:PAYX)

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