Paychex (PAYX) Projected to Post Earnings on Wednesday

Paychex (NASDAQ:PAYX) is expected to announce its earnings results before the market opens on Wednesday, March 26th. Analysts expect the company to announce earnings of $1.48 per share and revenue of $1.51 billion for the quarter.

Paychex Stock Up 1.3 %

Shares of Paychex stock opened at $144.83 on Tuesday. The business has a 50-day moving average price of $147.86 and a 200 day moving average price of $142.89. Paychex has a fifty-two week low of $114.72 and a fifty-two week high of $158.37. The firm has a market cap of $52.15 billion, a P/E ratio of 30.49, a P/E/G ratio of 4.10 and a beta of 0.98. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.20.

Paychex Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 27th. Stockholders of record on Friday, February 7th were given a $0.98 dividend. The ex-dividend date was Friday, February 7th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 2.71%. Paychex’s payout ratio is currently 82.53%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PAYX. Royal Bank of Canada reissued a “sector perform” rating and issued a $148.00 price target on shares of Paychex in a report on Friday, December 20th. UBS Group lifted their price target on Paychex from $152.00 to $155.00 and gave the company a “neutral” rating in a report on Tuesday, March 4th. Finally, Barclays increased their price objective on Paychex from $135.00 to $140.00 and gave the stock an “equal weight” rating in a report on Monday, December 23rd. Two equities research analysts have rated the stock with a sell rating and eleven have given a hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $133.23.

Hedge Funds Weigh In On Paychex

An institutional investor recently raised its position in Paychex stock. Brighton Jones LLC increased its stake in Paychex, Inc. (NASDAQ:PAYX) by 26.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,710 shares of the business services provider’s stock after acquiring an additional 1,190 shares during the quarter. Brighton Jones LLC’s holdings in Paychex were worth $801,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 83.47% of the company’s stock.

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.