Paychex (PAYX) Expected to Announce Earnings on Wednesday

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

Paychex Stock Up 1.3 %

NASDAQ:PAYX opened at $144.83 on Tuesday. Paychex has a 1-year low of $114.72 and a 1-year high of $158.37. The firm has a market capitalization of $52.15 billion, a price-to-earnings ratio of 30.49, a PEG ratio of 4.10 and a beta of 0.98. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.20. The business’s fifty day moving average price is $147.86 and its 200 day moving average price is $142.89.

Paychex Announces Dividend

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

Analysts Set New Price Targets

Several analysts recently commented on PAYX shares. UBS Group raised their price target on shares of Paychex from $152.00 to $155.00 and gave the stock a “neutral” rating in a report on Tuesday, March 4th. Barclays lifted their target price on shares of Paychex from $135.00 to $140.00 and gave the company an “equal weight” rating in a research note on Monday, December 23rd. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $148.00 price target on shares of Paychex in a research note on Friday, December 20th. Two investment analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, Paychex currently has an average 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 lifted its holdings in shares of Paychex, Inc. (NASDAQ:PAYX) by 26.3% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 5,710 shares of the business services provider’s stock after acquiring an additional 1,190 shares during the period. Brighton Jones LLC’s holdings in Paychex were worth $801,000 as of its most recent filing with the SEC. 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.