UPDATE: Wolfe Research Downgrades Paychex (PAYX) to Underperform 'despite encouraging results'

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Go back to UPDATE: Wolfe Research Downgrades Paychex (PAYX) to Underperform 'despite encouraging results'

Paychex, Inc. Reports Third Quarter Results and Improves Full Year Guidance; Reflects Client Base Growth and Strong Client Retention

April 6, 2021 8:30 AM EDT

ROCHESTER, N.Y.--(BUSINESS WIRE)-- Paychex, Inc. (the Company, Paychex, we, our, or us) today announced the following results for the quarter ended February 28, 2021 (the third quarter), as compared to the corresponding prior-year period:

Total service revenue decreased 2% to $1.1 billion. Total revenue decreased 3% to $1.1 billion. Operating income was comparable at $468.6 million. Diluted earnings per share and adjusted diluted earnings per share(1)... More