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Paychex posts fiscal third-quarter revenue of $1.44 billion, missing analysts' estimates of $1.46 billion.
Shares of Paychex Inc. PAYX, -0.96% sank 8.3% toward a five-month low in premarket trading Tuesday, after the human resources outsourcing company reported fiscal third-quarter revenue expectations and trimmed its full-year outlook, citing a lower contribution from its Employee Retention Tax Credit service. Net income for the quarter to Feb. 29 rose to $498.6 million, or $1.38 a share, from $467.4 million, or $1.29 a share, in the same period a year ago.
Paychex's (PAYX) third-quarter fiscal 2024 top line is likely to have benefited from improved revenues in Management Solutions, and PEO and insurance solution units.
Paychex (PAYX) is expected to witness earnings and revenue growth in the third quarter of fiscal 2024 on the back of likely demand for solutions.
Investors interested in Outsourcing stocks are likely familiar with Barrett Business Services (BBSI) and Paychex (PAYX). But which of these two companies is the best option for those looking for undervalued stocks?
Paychex (PAYX) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
ROCHESTER, N.Y.--(BUSINESS WIRE)--Paychex, Inc. (Nasdaq: PAYX) will release financial results for its fiscal 2024 third quarter ended February 29, 2024. Paychex will deliver results via Business Wire before the financial markets open on Wednesday, March 27, 2024. The company will host a conference call at 9:30 a.m. ET on Wednesday, March 27, 2024, to review the results for the quarter. Participating in this call will be John Gibson, president and CEO, and Bob Schrader, senior vice president and.
Paychex (PAYX) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.
Investors looking for stocks in the Outsourcing sector might want to consider either Barrett Business Services (BBSI) or Paychex (PAYX). But which of these two stocks is more attractive to value investors?
The Zacks Outsourcing industry is poised for growth as business and IT outsourcing have become vital. Companies like ADP, PAYX and BR are positioned to benefit from the prevailing trends.