Paychex Earnings: Here’s Why Investors are Selling Shares Now
Paychex Inc. (NASDAQ:PAYX) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 0.54%.
Paychex Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 4.76% to $0.44 in the quarter versus EPS of $0.42 in the year-earlier quarter.
Revenue: Rose 5.14% to $607.9 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Paychex Inc. reported adjusted EPS income of $0.44 per share. By that measure, the company beat the mean analyst estimate of $0.43. It beat the average revenue estimate of $605.56 million.
Quoting Management: Martin Mucci, President and Chief Executive Officer, commented, “We had a solid start to fiscal 2014. Payroll revenue results met expectations and Human Resource Services revenue growth continued to progress at a double-digit rate. Our sales execution continues to advance, particularly in core payroll and in Human Resource Services. Our investments in market-leading software-as-a-service technology and mobile applications position us for long-term growth. Furthermore, client satisfaction and client retention continued at record levels.”
Key Stats (on next page)…