Paychex (PAYX) Announces Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Paychex (PAYX) announced its quarterly earnings results on Tuesday, Dec-22-2015. The company reported $0.52 Earnings Per Share for the quarter, beating the analyst consensus estimate by $0.01. Analyst had a consensus of $0.51 EPS. The company had revenue of $722.40 million for the quarter, compared to analysts expectations of $723.82 million.The company’s revenue was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, Paychex posted $0.47 EPS.

Shares of Paychex, Inc. (NASDAQ:PAYX) ended Thursday session in red amid volatile trading. The shares closed down 0.71 points or 1.31% at $53.35 with 2,234,955 shares getting traded. Post opening the session at $54.12, the shares hit an intraday low of $53.35 and an intraday high of $54.3 and the price vacillated in this range throughout the day. The company has a market cap of $19,235 million and the number of outstanding shares has been calculated to be 360,539,940 shares. The 52-week high of Paychex, Inc. (NASDAQ:PAYX) is $54.7805 and the 52-week low is $41.59.

During the last several months other analysts have commented on the company rating. Equity Analysts at the RBC Capital maintains the rating on Paychex, Inc. (NASDAQ:PAYX). The brokerage firm has issued a Underperform rating on the shares. The Analysts at the ratings agency raises the price target from $46 per share to $47 per share. The rating by the firm was issued on October 1, 2015.

Paychex, Inc. (NASDAQ:PAYX) has received a hold rating for the short term, according to the latest rank of 3 from research firm, Zacks. The company received an average rating of 3.13 from 18 analysts. As per the latest data, 1 analysts has given a sell rating on the shares of the company. 3 analyst have rated it as strong sell. 2 have rated it as a strong buy. 12 analysts have rated the company at hold.

Paychex, Inc. (NASDAQ:PAYX): 12 analysts have set the short term price target of Paychex, Inc. (NASDAQ:PAYX) at $47.75. The standard deviation of short term price target has been estimated at $3.86, implying that the actual price may fluctuate by this value. The higher and the lower price estimates are $ 52 and $40 respectively.

Shares of Paychex, Inc. rose by 0.45% in the last five trading days and 0.04% for the last 4 weeks. Paychex, Inc. is up 15.59% in the last 3-month period. Year-to-Date the stock performance stands at 19.43%.”

Paychex, Inc. is a provider of payroll, human resource, and benefits outsourcing solutions for small to medium-sized businesses. As of May 31, 2012, the Company serviced approximately 567,000 clients, including approximately 2,000 clients through four offices in Germany. The Company offers a portfolio of services and products that allows its clients to meet their diverse payroll and human resource needs. These include payroll processing; payroll tax administration services; employee payment services; regulatory compliance services (new-hire reporting and garnishment processing); Paychex HR Solutions; retirement services administration; insurance services; eServices, and other human resource services and products. In June 2014, the Company acquired nettime solutions, LLC, cloud-based time and attendance solutions provider.