Paychex (PAYX) Earning Somewhat Positive Press Coverage, Study Finds
News headlines about Paychex (NASDAQ:PAYX) have been trending somewhat positive on Tuesday, Accern reports. Accern scores the sentiment of media coverage by analyzing more than twenty million news and blog sources. Accern ranks coverage of companies on a scale of negative one to one, with scores closest to one being the most favorable. Paychex earned a coverage optimism score of 0.20 on Accern’s scale. Accern also gave headlines about the business services provider an impact score of 45.0308977693669 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the company’s share price in the immediate future.
Here are some of the headlines that may have impacted Accern’s analysis:
- Clues to Identify Price Direction: Paychex, Inc. (PAYX), Norfolk Southern Corporation (NSC) – AllStockNews (allstocknews.com)
- Paychex Inc (PAYX) Reaches Active Mover List – Wall Street Review (thewallstreetreview.com)
- Analysts said to Hold stock: Paychex, Inc. (PAYX) – Street Observer (press release) (streetobserver.com)
- Volume Moving the Tape For Shares of Tim Participacoes SA (TSU) and Paychex Inc (PAYX) – FLBC News (flbcnews.com)
- Trading Monitor: Span A Noted Above Span B for Paychex Inc (PAYX) – MTNV (mtnvnews.com)
Shares of Paychex (PAYX) traded down 0.63% on Tuesday, hitting $56.71. 1,257,872 shares of the stock traded hands. Paychex has a 12-month low of $52.78 and a 12-month high of $63.03. The firm’s 50-day moving average is $56.38 and its 200 day moving average is $58.60. The firm has a market cap of $20.38 billion, a P/E ratio of 25.20 and a beta of 0.96.
Paychex (NASDAQ:PAYX) last issued its quarterly earnings results on Wednesday, June 28th. The business services provider reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.01. The business had revenue of $799 million during the quarter, compared to analyst estimates of $797.70 million. Paychex had a net margin of 24.46% and a return on equity of 40.67%. The business’s revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.49 earnings per share. Equities research analysts forecast that Paychex will post $2.37 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, August 24th. Investors of record on Tuesday, August 1st were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.53%. The ex-dividend date was Friday, July 28th. This is a positive change from Paychex’s previous quarterly dividend of $0.46. Paychex’s payout ratio is 88.50%.
Several brokerages recently weighed in on PAYX. Goldman Sachs Group, Inc. (The) downgraded shares of Paychex from a “buy” rating to a “neutral” rating and cut their target price for the stock from $68.00 to $64.00 in a research note on Tuesday, June 20th. Wedbush reiterated a “neutral” rating and set a $61.25 price target (down previously from $65.00) on shares of Paychex in a report on Tuesday, June 6th. BidaskClub upgraded shares of Paychex from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. BMO Capital Markets reiterated a “hold” rating and set a $60.00 price target on shares of Paychex in a report on Thursday, June 29th. Finally, William Blair cut shares of Paychex from an “outperform” rating to a “market perform” rating in a report on Friday, July 21st. Four equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $59.28.
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In other Paychex news, insider Efrain Rivera sold 5,837 shares of Paychex stock in a transaction on Sunday, July 9th. The shares were sold at an average price of $57.39, for a total value of $334,985.43. Following the completion of the transaction, the insider now owns 53,395 shares of the company’s stock, valued at $3,064,339.05. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Michael E. Gioja sold 7,343 shares of Paychex stock in a transaction on Thursday, July 6th. The stock was sold at an average price of $57.40, for a total transaction of $421,488.20. Following the completion of the transaction, the insider now directly owns 55,632 shares of the company’s stock, valued at approximately $3,193,276.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 92,497 shares of company stock valued at $5,300,889. Insiders own 11.60% of the company’s stock.
Paychex, Inc is a provider of integrated human capital management (HCM) solutions for payroll, human resource (HR), retirement and insurance services for small- to medium-sized businesses in the United States. The Company also has operations in Germany. The Company offers services, including Payroll processing, Human Resource Services, and Accounting and Financial Services.
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