Paychex Shares Fall After Q4 Earnings Miss

Paychex PAYX shares are trading lower after the company reported worse-than-expected fourth-quarter earnings and sales results.

Paychex reported earnings of 63 cents per share, which missed the analyst consensus estimate of 65 cents. This is a 3.285 increase over earnings of 61 cents per share from the same period last year.

The company reported quarterly sales of $980.4 million, which missed the analyst consensus estimate of $981.11 million. This is a 12.55% increase over sales of $871.1 million the same period last year.

Paychex shares traded lower by 3.5% to $81.82 at time of publication. The stock has a 52-week high of $88.43 and a 52-week low of $61.32.

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