Paychex (NASDAQ:PAYX) released its quarterly earnings results on Wednesday. The business services provider reported $0.70 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.02, Briefing.com reports. The company had revenue of $990.70 million during the quarter, compared to analysts’ expectations of $988.26 million. Paychex had a net margin of 26.72% and a return on equity of 41.21%. The business’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.65 earnings per share. Paychex updated its FY 2020
Pre-Market guidance to 3.12-3.15 EPS.
Shares of PAYX opened at $85.53 on Friday. Paychex has a 12-month low of $61.32 and a 12-month high of $88.43. The company has a quick ratio of 1.15, a current ratio of 1.17 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $30.43 billion, a price-to-earnings ratio of 29.01, a P/E/G ratio of 3.90 and a beta of 0.89. The stock’s 50-day moving average price is $84.62 and its 200 day moving average price is $84.06.
The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Friday, November 1st were given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date of this dividend was Thursday, October 31st. Paychex’s dividend payout ratio (DPR) is presently 87.32%.
Several research analysts have commented on PAYX shares. Barclays lifted their price target on Paychex from $80.00 to $84.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Argus reiterated a “buy” rating and set a $92.00 price target on shares of Paychex in a report on Thursday, October 3rd. ValuEngine cut Paychex from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Robert W. Baird raised their price objective on shares of Paychex from $83.00 to $87.00 and gave the stock a “neutral” rating in a research note on Thursday. Finally, Cowen initiated coverage on shares of Paychex in a research report on Wednesday, September 11th. They set a “market perform” rating and a $74.00 target price on the stock. Four research analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. Paychex presently has an average rating of “Hold” and an average price target of $80.88.
Paychex Company Profile
Paychex, Inc provides payroll, human resource (HR), retirement, 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.
Featured Article: What is Cost of Debt?
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.