Paychex (PAYX) Scheduled to Post Quarterly Earnings on Wednesday

Paychex (NASDAQ:PAYX) will be issuing its quarterly earnings data before the market opens on Wednesday, June 26th. Analysts expect the company to announce earnings of $1.10 per share for the quarter. Paychex has set its FY 2024 guidance at 4.700-4.740 EPS.Parties that wish to register for the company’s conference call can do so using this link.

Paychex (NASDAQ:PAYX) last posted its quarterly earnings results on Tuesday, April 2nd. The business services provider reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.37 by $0.01. The firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.46 billion. Paychex had a return on equity of 46.14% and a net margin of 31.86%. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.29 EPS. On average, analysts expect Paychex to post $5 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Paychex Stock Up 0.7 %

Paychex stock opened at $125.96 on Monday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $45.34 billion, a PE ratio of 27.44, a PEG ratio of 3.47 and a beta of 0.96. The firm’s fifty day moving average is $122.28 and its 200 day moving average is $122.07. Paychex has a 12-month low of $106.27 and a 12-month high of $129.70.

Paychex Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 30th. Stockholders of record on Friday, May 10th were issued a dividend of $0.98 per share. This is an increase from Paychex’s previous quarterly dividend of $0.89. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $3.92 annualized dividend and a dividend yield of 3.11%. Paychex’s payout ratio is currently 85.40%.

Insider Activity at Paychex

In other news, Director David J. S. Flaschen sold 19,709 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $124.55, for a total transaction of $2,454,755.95. Following the completion of the sale, the director now owns 5,383 shares in the company, valued at approximately $670,452.65. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 11.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on PAYX shares. Royal Bank of Canada reissued a “sector perform” rating and set a $130.00 target price on shares of Paychex in a research report on Tuesday, May 21st. TD Cowen decreased their price objective on Paychex from $122.00 to $121.00 and set a “hold” rating for the company in a report on Wednesday, April 3rd. Bank of America increased their price objective on Paychex from $108.00 to $111.00 and gave the stock an “underperform” rating in a research note on Wednesday, April 3rd. Wedbush reaffirmed a “neutral” rating and set a $115.00 target price on shares of Paychex in a research report on Wednesday, April 3rd. Finally, Evercore ISI reissued an “in-line” rating and issued a $118.00 price target on shares of Paychex in a research report on Tuesday, March 26th. Two research analysts have rated the stock with a sell rating and ten have issued a hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $123.00.

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, Europe, and India. It offers payroll processing services; payroll tax administration services; employee payment services; and regulatory compliance services, such as new-hire reporting and garnishment processing.