Paychex (NASDAQ:PAYX) Issues FY 2021 Pre-Market Earnings Guidance

Paychex (NASDAQ:PAYX) issued an update on its FY 2021
Pre-Market earnings guidance on Tuesday morning. The company provided EPS guidance of 2.94-3.00 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.94. The company issued revenue guidance of $3.96-4.041 billion, compared to the consensus revenue estimate of $3.99 billion.Paychex also updated its FY21 guidance to $2.94-3.00 EPS.

A number of research firms have commented on PAYX. Morgan Stanley reduced their price objective on shares of Paychex from $91.00 to $90.00 and set an equal weight rating for the company in a research report on Wednesday. Robert W. Baird raised their price objective on shares of Paychex from $82.00 to $94.00 and gave the stock an outperform rating in a research report on Wednesday. Moffett Nathanson upped their target price on Paychex from $100.00 to $105.00 in a research report on Monday, December 28th. Smith Barney Citigroup lifted their price target on Paychex from $93.00 to $105.00 in a report on Tuesday, January 5th. Finally, Bank of America upped their price objective on Paychex from $70.00 to $81.00 in a report on Monday, December 28th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. Paychex presently has a consensus rating of Hold and an average price target of $93.00.

Paychex stock opened at $94.81 on Thursday. The stock has a fifty day moving average of $94.82 and a 200-day moving average of $89.98. The stock has a market capitalization of $34.19 billion, a P/E ratio of 32.36, a price-to-earnings-growth ratio of 3.81 and a beta of 0.90. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.28 and a current ratio of 1.28. Paychex has a 52 week low of $60.00 and a 52 week high of $101.15.

Paychex (NASDAQ:PAYX) last issued its earnings results on Monday, April 5th. The business services provider reported $0.96 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.92 by $0.04. The firm had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.11 billion. Paychex had a return on equity of 37.99% and a net margin of 26.66%. The business’s quarterly revenue was down 2.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.97 earnings per share. On average, research analysts forecast that Paychex will post 2.94 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, February 25th. Shareholders of record on Monday, February 1st were given a $0.62 dividend. The ex-dividend date of this dividend was Friday, January 29th. This represents a $2.48 dividend on an annualized basis and a yield of 2.62%. Paychex’s dividend payout ratio is currently 82.67%.

In related news, VP John B. Gibson sold 82,488 shares of the firm’s stock in a transaction that occurred on Tuesday, February 2nd. The shares were sold at an average price of $89.79, for a total value of $7,406,597.52. Also, CEO Martin Mucci sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, February 26th. The stock was sold at an average price of $91.09, for a total transaction of $4,554,500.00. Insiders own 11.70% of the company’s stock.

Paychex Company Profile

Paychex, Inc provides integrated human capital management solutions for human resources (HR), payroll, benefits, 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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