Paychex (NASDAQ:PAYX) Updates FY 2020 Earnings Guidance

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Paychex (NASDAQ:PAYX) updated its FY 2020 earnings guidance on Wednesday. The company provided EPS guidance of $3.07-3.10 for the period, compared to the Thomson Reuters consensus EPS estimate of $3.10. The company issued revenue guidance of $4.15-4.187 billion, compared to the consensus revenue estimate of $4.16 billion.

A number of equities analysts have issued reports on PAYX shares. Bank of America cut shares of Paychex from a neutral rating to an underperform rating in a research report on Wednesday. They noted that the move was a valuation call. BidaskClub downgraded shares of Paychex from a strong-buy rating to a buy rating in a research note on Monday. Sanford C. Bernstein cut shares of Paychex from a market perform rating to an underperform rating in a research report on Tuesday, April 30th. Barclays upped their price target on shares of Paychex from $78.00 to $80.00 and gave the company an equal weight rating in a report on Monday, April 1st. Finally, Credit Suisse Group increased their target price on shares of Paychex from $82.00 to $84.00 and gave the stock an outperform rating in a report on Thursday, March 28th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $74.14.

Paychex stock opened at $81.77 on Thursday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $30.45 billion, a P/E ratio of 32.07, a PEG ratio of 3.04 and a beta of 0.96. Paychex has a 12 month low of $61.32 and a 12 month high of $88.43. The company has a 50-day moving average price of $86.10.

Paychex (NASDAQ:PAYX) last released its earnings results on Wednesday, June 26th. The business services provider reported $0.63 EPS for the quarter, missing the consensus estimate of $0.65 by ($0.02). Paychex had a return on equity of 43.20% and a net margin of 28.19%. The business had revenue of $980.40 million for the quarter, compared to analyst estimates of $978.94 million. During the same period in the prior year, the business earned $0.61 EPS. The company’s revenue for the quarter was up 15.9% on a year-over-year basis. On average, equities research analysts forecast that Paychex will post 2.86 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, May 30th. Stockholders of record on Wednesday, May 15th were given a $0.62 dividend. The ex-dividend date was Tuesday, May 14th. This is a boost from Paychex’s previous quarterly dividend of $0.56. This represents a $2.48 annualized dividend and a dividend yield of 3.03%. Paychex’s payout ratio is 97.25%.

In other Paychex news, Director David J. S. Flaschen sold 18,154 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $84.74, for a total transaction of $1,538,369.96. Following the transaction, the director now owns 34,223 shares in the company, valued at approximately $2,900,057.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael E. Gioja sold 29,840 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $80.58, for a total value of $2,404,507.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 135,127 shares of company stock valued at $11,173,791. Corporate insiders own 11.80% of the company’s stock.

Paychex Company Profile

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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