Paychex, Inc. (PAYX) To Go Ex-Dividend on May 13th

Paychex, Inc. (NASDAQ:PAYX) declared a quarterly dividend on Friday, May 1st. Shareholders of record on Wednesday, May 13th will be given a dividend of 1.19 per share by the business services provider on Friday, May 29th. This represents a c) dividend on an annualized basis and a yield of 5.1%. The ex-dividend date of this dividend is Wednesday, May 13th. This is a 10.2% increase from Paychex’s previous quarterly dividend of $1.08.

Paychex has increased its dividend by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 3 consecutive years. Paychex has a payout ratio of 84.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Research analysts expect Paychex to earn $5.91 per share next year, which means the company should continue to be able to cover its $4.76 annual dividend with an expected future payout ratio of 80.5%.

Paychex Stock Performance

PAYX opened at $93.93 on Monday. Paychex has a 12-month low of $85.45 and a 12-month high of $161.24. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 1.13. The firm has a market capitalization of $33.65 billion, a PE ratio of 20.69 and a beta of 0.84. The firm has a 50 day moving average of $92.50 and a two-hundred day moving average of $103.62.

Paychex (NASDAQ:PAYX) last posted its quarterly earnings results on Wednesday, March 25th. The business services provider reported $1.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.67 by $0.04. The company had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.78 billion. Paychex had a net margin of 25.84% and a return on equity of 48.52%. Paychex’s revenue for the quarter was up 19.9% compared to the same quarter last year. During the same period last year, the firm posted $1.49 EPS. On average, analysts anticipate that Paychex will post 5.5 EPS for the current year.

Paychex Company Profile

Paychex, Inc, founded in 1971 by B. Thomas “Tom” Golisano and headquartered in Rochester, New York, is a provider of payroll, human resources, and benefits outsourcing solutions for small- and medium-sized businesses. The company’s core services include payroll processing and tax filing, employee benefits administration, retirement services, and workers’ compensation administration, designed to simplify back-office operations and help clients comply with regulatory and tax requirements.

Paychex offers an integrated technology platform, marketed under the Paychex Flex brand, which delivers cloud-based payroll, HR, time and attendance, and reporting tools.