Paychex (PAYX) Releases Earnings Results, Beats Expectations By $0.03 EPS

Paychex (PAYX) announced its most recent quarterly financial results on Wednesday, Sep-28-2016. PAYX said it had a profit of $0.60 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.03. Analysts had a consensus of $0.57. The company posted revenue of $785.50 million in the period, compared to analysts expectations of $782.62 million. PAYX’s revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.52 EPS.

Many Wall Street Analysts have commented on Paychex. Wedbush Initiated Paychex on Sep 9, 2016 to “Neutral”, Price Target of the shares are set at $65.

Paychex opened for trading at $59.79 and hit $60.36 on the upside on Tuesday, eventually ending the session at $60.27, with a gain of 0.99% or 0.59 points. The heightened volatility saw the trading volume jump to 24,19,108 shares. Company has a market cap of $21,729 M.

In a different news, on Jul 29, 2016, John B Gibson (Sr. VP, Service) sold 11,450 shares at $59.00 per share price. According to the SEC, on Jul 14, 2016, Jennifer R. Vossler (VP/Controller) sold 12,000 shares at $61.05 per share price. On Jul 12, 2016, Michael E Gioja (Sr. Vice President) sold 8,245 shares at $61.33 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.


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