Paychex: Q2 Earnings Insights

Shares of Paychex PAYX rose 3.5% in pre-market trading after the company reported Q2 results.

Quarterly Results

Earnings per share increased 4.29% year over year to $0.73, which beat the estimate of $0.66.

Revenue of $983,700,000 declined by 0.71% year over year, which beat the estimate of $954,000,000.

Outlook

Paychex said it now sees 2021 adjusted diluted EPS to decline 1% to 4%.

Details Of The Call

Date: Dec 23, 2020

Time: 09:30 AM

ET Webcast URL: https://edge.media-server.com/mmc/p/sp8ezzq5

Technicals

52-week high: $97.19

52-week low: $47.87

Price action over last quarter: Up 20.01%

Company Profile

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.