Paychex (PAYX) Posts Mixed Q4 Results; Revs Strong, Led by HR Services
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Price: $123.35 +0.69%
EPS Growth %: +8.2%
Financial Fact:
Total revenue: 785.5M
Today's EPS Names:
EDXC, BICX, FBPI, More
EPS Growth %: +8.2%
Financial Fact:
Total revenue: 785.5M
Today's EPS Names:
EDXC, BICX, FBPI, More
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Paychex Inc. (Nasdaq: PAYX) shares are modestly higher following fourth-quarter earnings results after the close Wednesday. The company said results were bolstered by a 10 percent increase in Human Resource Service sales.
Revenue in the quarter increased 5.3 percent to $522.7 million, while net income jumped 2.9 percent to $118.9 million, or 33 cents per share.
A consensus of analyst estimates had revs at $515.9 million and earnings of 33 cents per share.
In the quarter, checks per client increased 2.1 percent, payroll services client retention improved 2 points, and core payroll sales improved into the latter half of Paychex's fiscal year.
Looking ahead, Paychex expects a 7 to 9 percent increase in overall service revs, and net income to jump a comparable 5 to 7 percent. The numbers imply revs of $2.23 to $2.27 billion and net income of $541.07 to $551.37 million.
Paychex shares are modestly higher in after-hours trade.
Revenue in the quarter increased 5.3 percent to $522.7 million, while net income jumped 2.9 percent to $118.9 million, or 33 cents per share.
A consensus of analyst estimates had revs at $515.9 million and earnings of 33 cents per share.
In the quarter, checks per client increased 2.1 percent, payroll services client retention improved 2 points, and core payroll sales improved into the latter half of Paychex's fiscal year.
Looking ahead, Paychex expects a 7 to 9 percent increase in overall service revs, and net income to jump a comparable 5 to 7 percent. The numbers imply revs of $2.23 to $2.27 billion and net income of $541.07 to $551.37 million.
Paychex shares are modestly higher in after-hours trade.
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