Recap: Paychex Q4 Earnings

Shares of Paychex PAYX rose 0.3% in pre-market trading after the company reported Q4 results.

Quarterly Results

Earnings per share fell 3.17% over the past year to $0.61, which beat the estimate of $0.60.

Revenue of $951,100,000 declined by 2.99% from the same period last year, which beat the estimate of $910,910,000.

Looking Ahead

Paychex said it expects FY21 adjusted EPS to drop 6%-10% year-over-year and sales to drop 2%-5% year-over-year.

How To Listen To The Conference Call

Date: Jul 07, 2020

Time: 09:30 AM

ET Webcast URL: https://edge.media-server.com/mmc/p/4xmyec7d

Technicals

52-week high: $90.53

Company's 52-week low was at $47.87

Price action over last quarter: Up 17.88%

Company Description

Paychex competes in the payroll outsourcing industry. It is the second- largest player in terms of revenue and focuses on providing this service to small and midsize businesses. Paychex was created from the consolidation of 17 payroll processors in 1979 and services about 590,000 clients. The firm has almost 13,000 employees and is based in Rochester, New York.