Equities analysts expect Paychex, Inc. (NASDAQ:PAYX) to announce $1.03 billion in sales for the current quarter, Zacks Investment Research reports. Eight analysts have issued estimates for Paychex’s earnings. The lowest sales estimate is $987.99 million and the highest is $1.04 billion. Paychex reported sales of $932.20 million in the same quarter last year, which indicates a positive year-over-year growth rate of 10.5%. The firm is scheduled to announce its next quarterly earnings report on Tuesday, October 5th.
According to Zacks, analysts expect that Paychex will report full year sales of $4.35 billion for the current fiscal year, with estimates ranging from $4.34 billion to $4.37 billion. For the next year, analysts forecast that the company will report sales of $4.59 billion, with estimates ranging from $4.54 billion to $4.64 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for Paychex.
Paychex (NASDAQ:PAYX) last announced its quarterly earnings results on Thursday, June 24th. The business services provider reported $0.72 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.05. Paychex had a return on equity of 38.04% and a net margin of 27.05%. The business had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $980.02 million. During the same quarter in the prior year, the company posted $0.61 earnings per share. Paychex’s revenue was up 12.5% compared to the same quarter last year.
Shares of Paychex stock opened at $109.66 on Wednesday. The stock has a fifty day simple moving average of $113.34 and a 200 day simple moving average of $104.51. Paychex has a 12-month low of $75.08 and a 12-month high of $118.22. The company has a market capitalization of $39.55 billion, a P/E ratio of 36.07, a price-to-earnings-growth ratio of 4.09 and a beta of 0.91. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.27.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 26th. Investors of record on Monday, August 2nd were issued a dividend of $0.66 per share. The ex-dividend date of this dividend was Friday, July 30th. This represents a $2.64 dividend on an annualized basis and a yield of 2.41%. Paychex’s dividend payout ratio (DPR) is 86.84%.
Paychex announced that its Board of Directors has initiated a share repurchase program on Thursday, July 8th that authorizes the company to buyback $400.00 million in outstanding shares. This buyback authorization authorizes the business services provider to buy up to 1% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.
In other Paychex news, VP Robert L. Schrader sold 686 shares of the firm’s stock in a transaction dated Sunday, August 1st. The stock was sold at an average price of $113.82, for a total value of $78,080.52. Following the sale, the vice president now owns 12,411 shares of the company’s stock, valued at approximately $1,412,620.02. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Efrain Rivera sold 419 shares of the firm’s stock in a transaction dated Friday, July 9th. The shares were sold at an average price of $111.90, for a total value of $46,886.10. The disclosure for this sale can be found here. Insiders have sold a total of 283,467 shares of company stock worth $31,877,536 in the last three months. 11.70% of the stock is currently owned by insiders.
Several large investors have recently added to or reduced their stakes in the business. Brown Brothers Harriman & Co. raised its holdings in shares of Paychex by 1.0% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 8,750 shares of the business services provider’s stock valued at $939,000 after acquiring an additional 88 shares in the last quarter. Fieldpoint Private Securities LLC increased its position in shares of Paychex by 9.3% during the 2nd quarter. Fieldpoint Private Securities LLC now owns 1,090 shares of the business services provider’s stock valued at $126,000 after purchasing an additional 93 shares during the last quarter. Venture Visionary Partners LLC increased its position in shares of Paychex by 2.0% during the 2nd quarter. Venture Visionary Partners LLC now owns 4,852 shares of the business services provider’s stock valued at $520,000 after purchasing an additional 94 shares during the last quarter. HM Payson & Co. increased its position in shares of Paychex by 2.3% during the 1st quarter. HM Payson & Co. now owns 4,403 shares of the business services provider’s stock valued at $432,000 after purchasing an additional 100 shares during the last quarter. Finally, Eqis Capital Management Inc. increased its position in shares of Paychex by 1.7% during the 2nd quarter. Eqis Capital Management Inc. now owns 5,871 shares of the business services provider’s stock valued at $630,000 after purchasing an additional 100 shares during the last quarter. 69.75% of the stock is currently owned by hedge funds and other institutional investors.
Paychex, Inc engages in the provision of human capital management solutions for payroll, human resource, insurance and retirement for small and medium sized businesses. Its solutions include payroll services, hiring services, business insurance, time and attendance, employee benefits, finance and payments, human resources services and startup services.
Featured Article: 52-Week High/Low Prices For Stock Selection
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Paychex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Paychex and related companies with MarketBeat.com's FREE daily email newsletter.