Paychex (PAYX) Tops Q3 EPS by 1c ; Provides Outlook
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Go back to Paychex (PAYX) Tops Q3 EPS by 1c ; Provides Outlook
April 3, 2024 4:39 AM EDT
BofA Securities analyst Jason Kupferberg raised the price target on Paychex (NASDAQ: PAYX) to $111.00 (from $108.00) while maintaining a Underperform rating.
The analyst comments "We are surprised to see PAYX shares trading nearly flat and outperforming the S&P 500 after reporting a F3Q revenue... More
April 3, 2024 4:34 AM EDT
Morgan Stanley analyst James Faucette lowered the price target on Paychex (NASDAQ: PAYX) to $125.00 (from $127.00) while maintaining a Equalweight rating.
The analyst comments "While expected ERTC drag is driving near-term estimate reductions, constructive macro commentary, particularly on SMB closure rates, drove intra-day share price... More
April 2, 2024 9:30 AM EDT
Paychex (NASDAQ: PAYX) reported a slight earnings beat but missed revenue estimates for the third quarter, sending its shares down over 5% premarket. The company posted adjusted earnings per share (EPS) of $1.38, just $0.01 above the analyst consensus of $1.37. However, revenue for the quarter was $1.44 billion, falling short of the consensus estimate of $1.46 billion.
The company's third-quarter performance was marked by a 4% increase in total revenue compared to the same period last year, attributed to growth across... More
