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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 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 three of the last four quarters while has matched the same on one occasion, making for an average positive surprise of approximately 1.8%.
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 63 cents per share surpassed the Zacks Consensus Estimate by a penny.
Revenue: Revenues surpassed. Paychex posted revenues of $866.5 million which was higher than the Zacks Consensus estimate of $854.8 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 updated its fiscal 2018 outlook wherein it now expects revenues to increase by approximately 7% against 6% forecasted earlier.
Shares of PAYX were up approximately 4.5% in the pre-market trading.
Check back later for our full write up on this PAYX earnings report later!
Zacks names 5 companies poised to ride a medical breakthrough that is targeting cures for leukemia, AIDS, muscular dystrophy, hemophilia, and other conditions.
New products in this field are already generating substantial revenue and even more wondrous treatments are in the pipeline. Early investors could realize exceptional profits.
Image: Bigstock
Paychex (PAYX) Tops Q3 Earnings & 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 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 three of the last four quarters while has matched the same on one occasion, making for an average positive surprise of approximately 1.8%.
Currently, PAYX has a Zacks Rank #3 (Hold), but that could definitely change following the company’s third-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 63 cents per share surpassed the Zacks Consensus Estimate by a penny.
Revenue: Revenues surpassed. Paychex posted revenues of $866.5 million which was higher than the Zacks Consensus estimate of $854.8 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 updated its fiscal 2018 outlook wherein it now expects revenues to increase by approximately 7% against 6% forecasted earlier.
Shares of PAYX were up approximately 4.5% in the pre-market trading.
Check back later for our full write up on this PAYX earnings report later!
Paychex, Inc. Price
Paychex, Inc. Price | Paychex, Inc. Quote
5 Medical Stocks to Buy Now
Zacks names 5 companies poised to ride a medical breakthrough that is targeting cures for leukemia, AIDS, muscular dystrophy, hemophilia, and other conditions.
New products in this field are already generating substantial revenue and even more wondrous treatments are in the pipeline. Early investors could realize exceptional profits.
Click here to see the 5 stocks >>