Paychex (NASDAQ:PAYX) Updates FY 2020 Earnings Guidance

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Paychex (NASDAQ:PAYX) issued an update on its FY 2020 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $3.10-3.10 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $3.09. Paychex also updated its FY20 guidance to approx $3.10 EPS.

PAYX stock opened at $81.89 on Wednesday. Paychex has a twelve month low of $61.32 and a twelve month high of $88.43. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.30. The stock has a market cap of $29.20 billion, a P/E ratio of 28.83, a PEG ratio of 2.94 and a beta of 0.88. The business’s 50-day moving average price is $81.86 and its 200-day moving average price is $83.36.

PAYX has been the topic of a number of analyst reports. BidaskClub cut Paychex from a buy rating to a hold rating in a research report on Saturday, August 24th. Cowen assumed coverage on Paychex in a research note on Wednesday, September 11th. They set a market perform rating and a $74.00 target price on the stock. Morgan Stanley downgraded Paychex from an equal weight rating to an underweight rating and decreased their target price for the company from $77.00 to $74.00 in a research note on Thursday, August 15th. William Blair reaffirmed a market perform rating on shares of Paychex in a research note on Thursday, June 27th. Finally, Bank of America cut Paychex from a neutral rating to an underperform rating in a report on Wednesday, June 26th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the stock. Paychex presently has an average rating of Hold and an average target price of $76.10.

In related news, VP Robert L. Schrader sold 751 shares of the business’s stock in a transaction on Saturday, August 3rd. The stock was sold at an average price of $83.89, for a total transaction of $63,001.39. Following the completion of the transaction, the vice president now owns 9,166 shares in the company, valued at approximately $768,935.74. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Mark Anthony Bottini sold 2,366 shares of the business’s stock in a transaction on Saturday, July 6th. The shares were sold at an average price of $85.31, for a total value of $201,843.46. Following the transaction, the vice president now owns 55,767 shares of the company’s stock, valued at approximately $4,757,482.77. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 50,137 shares of company stock valued at $4,275,323. 11.70% of the stock is owned by company insiders.

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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