Paychex (PAYX) reported quarterly earnings results on Thursday, Jun-30-2016. The company reported $0.49 EPS for the quarter. Analysts had a consensus estimate of $0.49. The company posted revenue of $753.90 million in the period, compared to analysts expectations of $751.03 million. The company’s revenue was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.44 EPS.
Many Wall Street Analysts have commented on Paychex. Compass Point Initiated Paychex on Apr 15, 2016 to “Sell”, Price Target of the shares are set at $45.
Paychex opened for trading at $55.84 and hit $56.27 on the upside on Wednesday, eventually ending the session at $56.14, with a gain of 1.10% or 0.61 points. The heightened volatility saw the trading volume jump to 35,21,774 shares. Company has a market cap of $20,217 M.
In a different news, on Jun 21, 2016, Laurie L. Zaucha (Vice President) sold 13,500 shares at $55.50 per share price. According to the SEC, on May 13, 2016, Pamela A Joseph (director) sold 6,000 shares at $52.49 per share price. On Apr 27, 2016, Grant M Inman (director) sold 4,197 shares at $52.85 per share price, according to the Form-4 filing with the securities and exchange commission.
Paychex Inc. is a provider of integrated payroll human Resource insurance and benefits outsourcing solutions for small- to medium-sized businesses. The Company focuses on providing payroll and human Resource services; delivering these services; growing its client base through the efforts of its direct sales force; improving client service through its leading-edge technology; capitalizing on the growth opportunities within its existing client base and from new clients; investing in business through expansion of its services and product offerings; and supplementing its growth through strategic acquisitions. The Company offers services and products that allow 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; Paychex HR Services; retirement services administration; insurance services; and online HR administration services.