Paychex, Inc. Reports Third Quarter Results
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March 28, 2019 9:08 AM EDT
Credit Suisse analyst Kevin McVeigh raised the price target on Paychex (NASDAQ: PAYX) to $84.00 (from $82.00) while maintaining a Outperform rating.
Despite the 1% decline, they expect the PAYX stock to build on recent gainsmaintain $2.87 2019E EPS and boost 2020 EPS to $3.15 from $3.05...
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March 28, 2019 7:11 AM EDT
BMO Capital analyst Jeffery Silber raised the price target on Paychex (NASDAQ: PAYX) to $80.00 (from $70.00) while maintaining a Market Perform rating following Q3.
Solid Quarter Despite Tight Labor Marketraising F2020 estimates and our target price to reflect recent multiple expansion...
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March 27, 2019 8:36 AM EDT
Paychex (NASDAQ: PAYX) reported Q3 EPS of $0.89, $0.01 better than the analyst estimate of $0.88. Revenue for the quarter came in at $1.1 billion versus the consensus estimate of $1.07 billion.
Total revenue increased 14% to $1.1 billion.Total service revenue increased 14% to $1.0 billion.Interest on funds held for clients increased 27% to $23.0 million.Operating income increased 16% to $429.3 million and adjusted operating income(1) increased 7% to $429.3 million.Net income decreased 12% to $324.6 million and adjusted net income(1) increased 3% to $322.4 million. Net income and adjusted net income for the three months ended February...
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