Paychex, Inc. Plans Combined Quarterly Dividend of $0.66 (PAYX)
Paychex (NASDAQ:PAYX) announced a quarterly dividend on Monday, December 10th. Investors of record on Thursday, December 20th will be paid a combined Q3 and Q4 dividend of $0.66 per share on Friday, December 28th. The company’s board of directors accelerated its Q4 FY 13 dividend, as have many companies because of the uncertainty of taxes on dividends in 2013 and beyond.
Several analysts have also recently commented on the stock. Analysts at Credit Suisse downgraded shares of Paychex to a “neutral” rating in a research note to investors on Thursday. On the ratings front, analysts at Citigroup cut their price target on shares of Paychex to $29.00 in a research note to investors on Wednesday, November 21st.
Shares of Paychex (PAYX) traded up 0.21% during mid-day trading on Monday, hitting $33.26. Paychex (PAYX) has a 52 week low of $28.76 and a 52 week high of $34.70. The company has a market cap of $12.089 billion and a P/E ratio of 21.84.
Paychex last announced its earnings results on Monday, September 24th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.01. The company had revenue of $578.20 million for the quarter, compared to the consensus estimate of $584.05 million. Paychex’s revenue was up 2.7% compared to the same quarter last year. On average, analysts predict that Paychex (PAYX) will post $1.60 earnings per share for the current fiscal year.
Paychex, Inc. is a provider of payroll, human resource, and benefits outsourcing solutions for small to medium-sized businesses.
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