We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Paychex (PAYX) Tops Q1 Earnings and Revenue Estimates
Read MoreHide Full Article
Paychex, Inc. (PAYX - Free Report) is a leading provider of comprehensive payroll and integrated human resource and employee benefits outsourcing solutions to small- and medium-sized businesses in the United States. Paychex’s payroll service continues to perform well and the company continues to see better-than-expected demand for its human resource outsourcing services.
The company’s investments in product development and focus on building its sales force to support revenue growth are encouraging. We consider that the company’s expansionary initiatives such as joint ventures and acquisitions support its long-term growth strategy.
However, increased investment in new and innovative products, sluggish macroeconomic conditions and severe competition from other players in the space has made this sector a very tough one to be in for the short term. Due to this, investors are eagerly awaiting PAYX’s earnings report in order to set the record straight and to give some guidance on where this company is heading.
PAYX have a decent history when it comes to recent earnings reports as the stock has beaten estimates in all the last four quarters, making for an average surprise of approximately 2.71%.
We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: PAYX Beats on earnings. The company’s non-GAAP earnings of 62 cents per share surpassed the Zacks Consensus Estimate by couple of cent.
Revenue: Revenues surpassed. Paychex posted revenues of $816.8 million which was higher than the Zacks Consensus estimate of $816 million.
Key Stats: The company’s Human Resource Services segment witnessed strong growth mainly driven by a rise in client base and worksite employees, increased revenues from retirement and online HR administration services. Also, Paychex provided its fiscal 2018 outlook wherein it expects revenues to increase by approximately 6%.
Shares of PAYX were up approximately 2% in the pre-market trading.
Check back later for our full write up on this PAYX earnings report later!
Will You Make a Fortune on the Shift to Electric Cars?
Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
Image: Bigstock
Paychex (PAYX) Tops Q1 Earnings and Revenue Estimates
Paychex, Inc. (PAYX - Free Report) is a leading provider of comprehensive payroll and integrated human resource and employee benefits outsourcing solutions to small- and medium-sized businesses in the United States. Paychex’s payroll service continues to perform well and the company continues to see better-than-expected demand for its human resource outsourcing services.
The company’s investments in product development and focus on building its sales force to support revenue growth are encouraging. We consider that the company’s expansionary initiatives such as joint ventures and acquisitions support its long-term growth strategy.
However, increased investment in new and innovative products, sluggish macroeconomic conditions and severe competition from other players in the space has made this sector a very tough one to be in for the short term. Due to this, investors are eagerly awaiting PAYX’s earnings report in order to set the record straight and to give some guidance on where this company is heading.
PAYX have a decent history when it comes to recent earnings reports as the stock has beaten estimates in all the last four quarters, making for an average surprise of approximately 2.71%.
Currently, PAYX has a Zacks Rank #3 (Hold), but that could definitely change following the company’s first-quarter fiscal 2018 earnings report which was just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: PAYX Beats on earnings. The company’s non-GAAP earnings of 62 cents per share surpassed the Zacks Consensus Estimate by couple of cent.
Revenue: Revenues surpassed. Paychex posted revenues of $816.8 million which was higher than the Zacks Consensus estimate of $816 million.
Key Stats: The company’s Human Resource Services segment witnessed strong growth mainly driven by a rise in client base and worksite employees, increased revenues from retirement and online HR administration services. Also, Paychex provided its fiscal 2018 outlook wherein it expects revenues to increase by approximately 6%.
Paychex, Inc. Price and EPS Surprise
Paychex, Inc. Price and EPS Surprise | Paychex, Inc. Quote
Shares of PAYX were up approximately 2% in the pre-market trading.
Check back later for our full write up on this PAYX earnings report later!
Will You Make a Fortune on the Shift to Electric Cars?
Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
It's not the one you think.
See This Ticker Free >>