Paychex, Inc. (NASDAQ:PAYX) – Analysts at William Blair upped their Q1 2019 EPS estimates for shares of Paychex in a report released on Wednesday. William Blair analyst T. Mchugh now expects that the business services provider will earn $0.67 per share for the quarter, up from their previous estimate of $0.65. William Blair currently has a “Market Perform” rating on the stock. William Blair also issued estimates for Paychex’s FY2019 earnings at $2.56 EPS.
Several other research firms have also issued reports on PAYX. BidaskClub lowered Paychex from a “sell” rating to a “strong sell” rating in a research note on Saturday, July 1st. Robert W. Baird restated a “hold” rating and set a $64.00 price target on shares of Paychex in a research report on Wednesday, October 4th. Morgan Stanley upgraded Paychex from an “underweight” rating to an “equal weight” rating and set a $55.00 price target on the stock in a research report on Wednesday, August 16th. They noted that the move was a valuation call. Stifel Nicolaus restated a “hold” rating and set a $61.00 price target on shares of Paychex in a research report on Friday, August 18th. Finally, BMO Capital Markets restated a “market perform” rating and set a $62.00 price target (up previously from $60.00) on shares of Paychex in a research report on Wednesday, October 4th. Five investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have given a buy rating to the company’s stock. Paychex presently has an average rating of “Hold” and a consensus target price of $60.07.
Paychex (NASDAQ PAYX) traded up 0.14% during trading on Monday, hitting $63.74. The stock had a trading volume of 1,334,391 shares. The company has a 50-day moving average of $58.51 and a 200-day moving average of $58.20. Paychex has a 52 week low of $52.78 and a 52 week high of $64.08. The stock has a market capitalization of $22.91 billion, a P/E ratio of 28.33 and a beta of 0.98.
Paychex (NASDAQ:PAYX) last posted its quarterly earnings results on Tuesday, October 3rd. The business services provider reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.02. Paychex had a return on equity of 43.01% and a net margin of 26.01%. The company had revenue of $816.80 million during the quarter, compared to analysts’ expectations of $816.34 million. During the same quarter in the previous year, the firm earned $0.60 EPS. Paychex’s revenue was up 4.0% on a year-over-year basis.
In related news, CEO Martin Mucci sold 30,000 shares of the business’s stock in a transaction dated Thursday, July 13th. The stock was sold at an average price of $57.04, for a total transaction of $1,711,200.00. Following the transaction, the chief executive officer now owns 237,754 shares in the company, valued at approximately $13,561,488.16. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Laurie L. Zaucha sold 15,000 shares of the business’s stock in a transaction dated Tuesday, October 3rd. The shares were sold at an average price of $62.00, for a total value of $930,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 60,000 shares of company stock worth $3,541,200. 11.70% of the stock is owned by company insiders.
Large investors have recently made changes to their positions in the stock. Jackson Wealth Management LLC boosted its position in Paychex by 3.6% during the 1st quarter. Jackson Wealth Management LLC now owns 42,230 shares of the business services provider’s stock valued at $2,457,000 after acquiring an additional 1,451 shares in the last quarter. Mutual of America Capital Management LLC boosted its position in Paychex by 1.3% during the 1st quarter. Mutual of America Capital Management LLC now owns 57,735 shares of the business services provider’s stock valued at $3,401,000 after acquiring an additional 726 shares in the last quarter. Stevens Capital Management LP bought a new stake in Paychex during the 1st quarter valued at approximately $2,518,000. Buckingham Asset Management LLC boosted its position in Paychex by 10.4% during the 1st quarter. Buckingham Asset Management LLC now owns 3,967 shares of the business services provider’s stock valued at $234,000 after acquiring an additional 374 shares in the last quarter. Finally, Ffcm LLC boosted its position in Paychex by 4.3% during the 1st quarter. Ffcm LLC now owns 25,536 shares of the business services provider’s stock valued at $1,505,000 after acquiring an additional 1,056 shares in the last quarter. Institutional investors own 67.31% of the company’s stock.
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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