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The Smart ETFs Asia Pacific Dividend Builder ETF invests at least 80 percentage of its net assets (plus any borrowings for investment purposes) in publicly-traded dividend-producing equity securities of companies economically tied to countries in the Asia Pacific region. These equity securities include common stocks, preferred stocks, securities convertible into common stocks, rights and warrants.

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Paychex reported mixed Q3 results, with 4% sales growth and $1.38 EPS beating estimates. FY24 outlook revised to 5-6% revenue growth.

Behind The Numbers: Paychex Delivers 4% Sales Growth In Q3, Raises Eyebrows With Revised Outlook

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Russell to Liquidate All But One of Its ETFs

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ETF Stats for March 2012: Launch Activity Dives

Payroll services company&nbsp;Paychex, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PAYX#NASDAQ">PAYX</a>) reported mixed&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/04/b38045140/paychex-inc-reports-third-quarter-results-sustained-growth-in-revenue-and-earnings" rel="noreferrer noopener">third-quarter FY24 results</a>.



The company reported sales growth of 4% Y/Y to $1.439 billion, missing the analyst consensus estimate of $1.458 billion.



Total revenue growth in the third fiscal quarter reflected a lower contribution from the company&#8217;s Employee Retention Tax Credit (ERTC) Service than the prior year period.



Management Solutions revenue rose 2% Y/Y to $1.0 billion, led by growth in the number of clients served across the human capital management (HCM) solutions suite and higher product penetration, including HR Solutions and Retirement.



Adjusted EPS of $1.38&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">beat the analyst consensus estimate of $1.37.</a>



Operating income grew 6% to $649.8 million, with margin expanded by around 80 basis points Y/Y to 45.1%.



The company held $1.8 billion in cash and equivalents as of February 29, 2024. Operating cash flow for the year-to-date period totaled $1.7 billion.



Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/04/38027047/paychex-earnings-are-imminent-these-most-accurate-analysts-revise-forecasts-ahead-of-earnings-call" rel="noreferrer noopener">Paychex Earnings Are Imminent; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call</a>



Outlook: Paychex revised its FY24 revenue growth outlook to 5% to 6% (from +6% to +7% earlier).



The company now sees Management Solutions revenue growth<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">&nbsp;in the 3.5% to 4.0% range</a>.



Last quarter, the company forecasted an adjusted EPS&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/23/12/36342922/paychex-stock-drops-after-mixed-q2-performance-whats-going-on" rel="noreferrer noopener">growth outlook of 10%-11%</a>.



John Gibson, President and Chief Executive Officer, said, &#8220;We are continuing to prioritize investments in data, analytics, and artificial intelligence (AI) to streamline our internal processes and offer greater value and actionable insights to our clients, as evidenced by our recent creation of a new role of senior vice president of data, analytics, and AI.&#8221;&nbsp;



Investors can gain exposure to the stock via&nbsp;USCF ETF Trust USCF Dividend Income Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UDI#NYSE">UDI</a>) and SmartETFs Dividend Builder ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIVS#NYSE">DIVS</a>).



Price Action: PAYX shares are down 0.05% at $121.56 on the last check Tuesday.

Russell Investments, the index provider for some of the largest ETFs, said it will liquidate all 25 of its passively managed ETFs. The move will leave the firm with just one actively managed product, the Russell Equity ETF (NYSE: <a class="ticker" href="/stock/onef#NYSE">ONEF</a>).

The affected Russell ETFs will close to new investment on October 9, 2012 and the funds will be delisted at the close of trading on October 16. Full liquidation of the funds is intended to be completed by October 24, Russell said in a statement.

The following Russell ETFs will be shuttered: The Russell 1000 High Beta ETF (NYSE: <a class="ticker" href="/stock/hbta#NYSE">HBTA</a>), the Russell 1000 Low Beta ETF (NYSE: <a class="ticker" href="/stock/lbta#NYSE">LBTA</a>), the Russell 1000 High Volatility ETF (NYSE: HVOL), the Russell 1000 Low Volatility ETF (NYSE: <a class="ticker" href="/stock/lvol#NYSE">LVOL</a>), the Russell 1000 High Momentum ETF (NYSE: <a class="ticker" href="/stock/hmtm#NYSE">HMTM</a>), the Russell 2000 High Beta ETF (NYSE: <a class="ticker" href="/stock/shbt#NYSE">SHBT</a>), the Russell 2000 Low Beta ETF (NYSE: <a class="ticker" href="/stock/slbt#NYSE">SLBT</a>), the Russell 2000 High Volatility ETF (NYSE: SHVY), the Russell 2000 Low Volatility ETF (NYSE: <a class="ticker" href="/stock/slvy#NYSE">SLVY</a>), the Russell 2000 High Momentum ETF (NYSE: <a class="ticker" href="/stock/shmo#NYSE">SHMO</a>), the Russell Developed ex-U.S. Low Beta ETF (NYSE: <a class="ticker" href="/stock/xlbt#NYSE">XLBT</a>), Russell Developed ex-U.S. Low Volatility ETF (NYSE: <a class="ticker" href="/stock/xlvo#NYSE">XLVO</a>) and the Russell Developed ex-U.S. High Momentum ETF (NYSE: <a class="ticker" href="/stock/xhmo#NYSE">XHMO</a>).

Other Russell funds slated for closure include the following: The Russell Aggressive Growth ETF (NYSE: AGRG), the Russell Consistent Growth ETF (NYSE: <a class="ticker" href="/stock/cong#NYSE">CONG</a>), the Russell Contrarian ETF (NYSE: CNTR), the Russell Equity Income ETF (NYSE: EQIN), the Russell Growth at a Reasonable Price ETF (NYSE: <a class="ticker" href="/stock/grpc#NYSE">GRPC</a>), the Russell Low P/E ETF (NYSE: LWPE), the Russell Small Cap Aggressive Growth ETF (NASDAQ: <a class="ticker" href="/stock/sggg#NASDAQ">SGGG</a>), the Russell Small Cap Consistent Growth ETF (NASDAQ: <a class="ticker" href="/stock/scog#NASDAQ">SCOG</a>), the Russell Small Cap Contrarian ETF (NASDAQ: <a class="ticker" href="/stock/sctr#NASDAQ">SCTR</a>), the Russell Small Cap Low P/E ETF (NASDAQ: <a class="ticker" href="/stock/sclp#NASDAQ">SCLP</a>), the Russell High Dividend Yield ETF (NYSE: <a class="ticker" href="/stock/hdiv#NYSE">HDIV</a>) and the Russell Small Cap High Dividend Yield ETF (NYSE: <a class="ticker" href="/stock/divs#NYSE">DIVS</a>).

"Given challenging equity market conditions since the launch of these products, Russell determined that proposing the liquidation of the passively managed ETFs at this time is in the best interests of the ETFs and their shareholders," Russell said in the statement.

Russell made the announcement after the close of U.S. markets on August 17.

Earlier this month, <a href="http://www.benzinga.com/news/12/08/2812118/russell-investments-reviewing-etf-operations">Russell said it was conducting a strategic review</a> of its U.S. ETF operations. At the time of that announcement, Russell said it would scaling back its U.S. ETF staff, prompting speculation fund closures could be on the way.

Russell joins Direxion and Scottrade's FocusShares in announcing ETF closures in August. Direxion is slated to close nine leveraged products while Scottrade will liquidate all 15 FocusShares ETFs.

For more on ETFs, click <a href="http://www.benzinga.com/etfs">here</a>.

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Latest SmartETFs Dividend Builder ETF News | ARCA:DIVS | Benzinga

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