Q1 2019 Earnings Estimate for Paychex, Inc. Issued By William Blair (PAYX)

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.

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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.

About Paychex

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.

Earnings History and Estimates for Paychex (NASDAQ:PAYX)

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