Paychex (PAYX) to Release Quarterly Earnings on Tuesday

Paychex (NASDAQ:PAYX) will be releasing its earnings data before the market opens on Tuesday, October 1st. Analysts expect Paychex to post earnings of $1.14 per share for the quarter. Parties that wish to register for the company’s conference call can do so using this link.

Paychex Stock Performance

Shares of NASDAQ PAYX opened at $132.99 on Monday. The stock has a 50 day moving average price of $128.96 and a 200 day moving average price of $124.25. Paychex has a 52 week low of $106.27 and a 52 week high of $137.40. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.37 and a current ratio of 1.37. The stock has a market capitalization of $47.84 billion, a PE ratio of 28.48, a price-to-earnings-growth ratio of 3.54 and a beta of 1.00.

Paychex Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 8th were paid a $0.98 dividend. The ex-dividend date was Thursday, August 8th. This represents a $3.92 annualized dividend and a yield of 2.95%. Paychex’s payout ratio is 83.94%.

Insider Activity at Paychex

In other news, VP Mark Anthony Bottini sold 8,954 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $123.60, for a total transaction of $1,106,714.40. Following the completion of the sale, the vice president now owns 79,232 shares of the company’s stock, valued at $9,793,075.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, VP Mark Anthony Bottini sold 8,954 shares of the stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $123.60, for a total value of $1,106,714.40. Following the completion of the sale, the vice president now directly owns 79,232 shares of the company’s stock, valued at $9,793,075.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO John B. Gibson sold 12,670 shares of the firm’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $119.53, for a total value of $1,514,445.10. Following the completion of the sale, the chief executive officer now owns 55,745 shares of the company’s stock, valued at $6,663,199.85. The disclosure for this sale can be found here. Insiders sold a total of 45,673 shares of company stock worth $5,636,085 in the last 90 days. 11.50% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $130.00 price target on shares of Paychex in a research note on Thursday, June 27th. Bank of America upped their target price on Paychex from $111.00 to $113.00 and gave the stock an “underperform” rating in a research report on Thursday, June 27th. Citigroup lifted their target price on Paychex from $125.00 to $145.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. TD Cowen increased their target price on shares of Paychex from $121.00 to $126.00 and gave the stock a “hold” rating in a research report on Thursday, September 12th. Finally, Morgan Stanley reduced their price objective on shares of Paychex from $125.00 to $122.00 and set an “equal weight” rating for the company in a research note on Thursday, June 27th. Two equities research analysts have rated the stock with a sell rating and eleven have issued a hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $125.62.

Paychex Company Profile

Paychex, Inc, together with its subsidiaries, provides integrated human capital management solutions (HCM) for payroll, benefits, human resources (HR), 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.