Paychex (NASDAQ:PAYX) Issues FY 2021 Earnings Guidance

Paychex (NASDAQ:PAYX) updated its FY 2021 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 2.940-3.000 for the period, compared to the Thomson Reuters consensus estimate of $2.940. The company issued revenue guidance of $3.96 billion-$4.04 billion, compared to the consensus revenue estimate of $3.99 billion.

Several equities research analysts have issued reports on the company. Wolfe Research reaffirmed an underperform rating and set a $94.00 price target on shares of Paychex in a report on Tuesday, April 13th. Smith Barney Citigroup lifted their target price on shares of Paychex from $93.00 to $105.00 in a report on Tuesday, January 5th. Argus raised their price objective on shares of Paychex from $103.00 to $105.00 and gave the stock a buy rating in a research report on Tuesday, April 13th. Robert W. Baird upped their target price on Paychex from $82.00 to $94.00 and gave the company an outperform rating in a research report on Tuesday, April 13th. Finally, Morgan Stanley dropped their price target on Paychex from $91.00 to $90.00 and set an equal weight rating for the company in a report on Tuesday, April 13th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $93.00.

NASDAQ:PAYX traded up $1.72 during mid-day trading on Tuesday, reaching $100.78. The stock had a trading volume of 2,163,549 shares, compared to its average volume of 1,893,733. Paychex has a 12 month low of $60.00 and a 12 month high of $101.15. The stock has a market capitalization of $36.32 billion, a PE ratio of 34.40, a P/E/G ratio of 3.81 and a beta of 0.90. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.28 and a quick ratio of 1.28. The stock has a 50-day simple moving average of $97.80 and a two-hundred day simple moving average of $92.33.

Paychex (NASDAQ:PAYX) last issued its quarterly earnings results on Monday, April 5th. The business services provider reported $0.96 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.04. The company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.11 billion. Paychex had a return on equity of 37.99% and a net margin of 26.66%. The company’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.97 EPS. Equities analysts expect that Paychex will post 2.94 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 27th. Stockholders of record on Wednesday, May 12th will be issued a $0.66 dividend. The ex-dividend date of this dividend is Tuesday, May 11th. This represents a $2.64 dividend on an annualized basis and a dividend yield of 2.62%. This is a boost from Paychex’s previous quarterly dividend of $0.62. Paychex’s dividend payout ratio is 82.67%.

In related news, CEO Martin Mucci sold 50,000 shares of the business’s stock in a transaction on Friday, February 26th. The shares were sold at an average price of $91.09, for a total value of $4,554,500.00. Also, Director Joseph M. Velli sold 3,753 shares of the stock in a transaction on Thursday, April 15th. The shares were sold at an average price of $96.93, for a total value of $363,778.29. Following the completion of the sale, the director now owns 52,619 shares of the company’s stock, valued at $5,100,359.67. The disclosure for this sale can be found here. Insiders have sold a total of 89,047 shares of company stock worth $8,289,914 over the last ninety days. 11.70% of the stock is currently owned by insiders.

About Paychex

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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