Paychex Inc. (NASDAQ:PAYX) – Investment analysts at William Blair decreased their Q2 2017 earnings estimates for Paychex in a report issued on Thursday. William Blair analyst T. Mchugh now expects that the firm will earn $0.56 per share for the quarter, down from their prior estimate of $0.57. William Blair also issued estimates for Paychex’s FY2017 earnings at $2.23 EPS and FY2018 earnings at $2.41 EPS.
Paychex (NASDAQ:PAYX) last issued its quarterly earnings results on Wednesday, September 28th. The company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.03. The business earned $785.50 million during the quarter, compared to analysts’ expectations of $782.80 million. Paychex had a return on equity of 40.10% and a net margin of 25.38%. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.52 earnings per share.
Other equities analysts have also recently issued research reports about the stock. Argus reaffirmed a “buy” rating and issued a $70.00 price target (up previously from $59.50) on shares of Paychex in a research report on Friday, July 1st. Zacks Investment Research raised shares of Paychex from a “hold” rating to a “buy” rating and set a $61.00 price target on the stock in a research report on Wednesday, June 15th. Deutsche Bank AG reaffirmed a “hold” rating and issued a $56.00 price target (up previously from $51.00) on shares of Paychex in a research report on Wednesday, July 6th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $58.00 price target (up previously from $55.00) on shares of Paychex in a research report on Tuesday, July 5th. Finally, Wedbush started coverage on shares of Paychex in a research report on Thursday, September 8th. They issued a “neutral” rating and a $65.00 price target on the stock. Seven equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. Paychex has an average rating of “Hold” and an average price target of $54.00.
Shares of Paychex (NASDAQ:PAYX) opened at 57.87 on Friday. Paychex has a 52 week low of $45.76 and a 52 week high of $61.87. The company has a 50 day moving average price of $59.81 and a 200 day moving average price of $56.52. The company has a market capitalization of $20.93 billion, a PE ratio of 27.43 and a beta of 0.82.
In related news, VP Jennifer R. Vossler sold 12,000 shares of Paychex stock in a transaction that occurred on Thursday, July 14th. The shares were sold at an average price of $61.05, for a total value of $732,600.00. Following the completion of the transaction, the vice president now directly owns 41,359 shares in the company, valued at approximately $2,524,966.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Mark Anthony Bottini sold 6,112 shares of Paychex stock in a transaction that occurred on Friday, July 8th. The shares were sold at an average price of $61.33, for a total transaction of $374,848.96. The disclosure for this sale can be found here. 11.60% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. NN Investment Partners Holdings N.V. acquired a new position in Paychex during the first quarter worth $12,174,000. Nikko Asset Management Americas Inc. purchased a new position in shares of Paychex during the first quarter valued at approximately $576,000. Columbia Partners L L C Investment Management increased its position in shares of Paychex by 6.5% in the first quarter. Columbia Partners L L C Investment Management now owns 16,368 shares of the company’s stock valued at $884,000 after buying an additional 996 shares during the last quarter. Massmutual Trust Co. FSB ADV increased its position in shares of Paychex by 1.0% in the first quarter. Massmutual Trust Co. FSB ADV now owns 42,606 shares of the company’s stock valued at $2,301,000 after buying an additional 433 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. increased its position in shares of Paychex by 1.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 9,183,027 shares of the company’s stock valued at $495,975,000 after buying an additional 137,147 shares during the last quarter. Institutional investors and hedge funds own 69.31% of the company’s stock.
Paychex Company Profile
Paychex, Inc is a provider of integrated human capital management (HCM) solutions for payroll, human resource (HR), retirement and insurance services for small- to medium-sized businesses in the United States. The Company also has operations in Germany. The Company offers services, including Payroll processing, Human Resource Services, and Accounting and Financial Services.
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