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Visa Inc. to Provide Business Update on July 6, 2011
Friday, June 24, 2011 - 8:08am | 117Visa Inc. (NYSE: V) today announced that it will update its financial outlook for fiscal year 2011 and select metrics for fiscal year 2012 in a Form 8-K to be filed on July 6, 2011 after market close. Today's announcement follows the commitment management made in its last earnings call to update...
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JP Morgan Tweaks Paychex Estimates
Friday, June 24, 2011 - 8:08am | 105“We are tweaking our FY12 Rev/EPS estimates from $2,236M/$1.49 to $2,232M/$1.49 on slightly lower payroll growth (3.9% vs. 4.4% prior) and float income (-13% vs. -8% prior),” JP Morgan wrote in a report focusing on Paychex Inc. (NASDAQ: PAYX). “We are modestly lowering operating income excluding...
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Evolving Systems Stockholders Approve Sale of Numbering Solutions Business to Neustar, Inc.
Thursday, June 23, 2011 - 2:00pm | 108Evolving Systems, Inc. (NASDAQ: EVOL) today announced that at its special meeting of stockholders on June 23, 2011, stockholders approved the sale of the Company's Numbering Solutions business to Neustar, Inc. (NYSE: NSR) for approximately $39.0 million in cash and the assumption of certain...
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Morgan Stanley Maintains Underweight on Paychex
Thursday, June 23, 2011 - 8:46am | 131Morgan Stanley is out with its report today on Paychex (NASDAQ: PAYX), maintaining Underweight. In a note to clients, Morgan Stanley writes, "PAYX continues to deliver solid execution in a challenging market as evidenced by a simultaneous increase in pricing and rising client satisfaction scores....
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Oppenheimer Comments On Paychex 4Q Results
Thursday, June 23, 2011 - 8:43am | 120According to Oppenheimer, Paychex (NASDAQ: PAYX) 4Q:FY11 EPS rose 3% Y/Y and were in line with the $0.33 estimate. Oppenheimer said that better than expected revenue and margins were offset by a higher than expected tax rate. “Checks/client remained positive, while net clients on an organic basis...
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Chad A. Carlson Named President and CEO of StarTek, Inc.
Thursday, June 23, 2011 - 8:31am | 144StarTek, Inc. (NYSE: SRT) today announced that current Executive Vice President and Chief Operating Officer, Chad A. Carlson will succeed A. Laurence Jones as President and Chief Executive Officer, effective immediately. “Personally, and on behalf of the Board of Directors, I want to thank Larry...
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Citi Maintain Forecasts On Paychex
Thursday, June 23, 2011 - 8:30am | 103According to Citi, Paychex (NASDAQ: PAYX) delivered an in-line 4Q11 performance and issued in-line initial guidance for FY12. Citi said that, though the quarter broke a string of six consecutive EPS beats, trends continued to improve modestly and guidance implies a continuation of those trends...
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Bank of America Merrill Lynch Maintains Neutral on Broadridge Financial Solutions
Thursday, June 23, 2011 - 8:08am | 101Bank of America Merrill Lynch is out with its report today on Broadridge Financial Solutions (NYSE: BR), maintaining Neutral. In a note to clients, Bank of America Merrill Lynch writes, "We rate the shares Neutral. Reflecting weak volumes, anemic stock record growth, price pressures and soft event...
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UPDATE: Deutsche Bank Raises PT on Paychex to $28
Thursday, June 23, 2011 - 8:00am | 120Deutsche Bank is out with its report today on Paychex (NASDAQ: PAYX), raising its PT from $27 to $28. In a note to clients, Deutsche Bank writes, "Our $28 PT is aligned w/ mid-point of our normalized earnings analysis, based on forecast thru FY14E, assuming +8% revs CAGR and EBIT margin of 39.8%....
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Keefe, Bruyette & Woods Meeting With Wright Express Management Corroborates Outperform Rating
Thursday, June 23, 2011 - 7:51am | 60According to Keefe, Bruyette & Woods, Wright Express (NYSE: WXS) is rated Outperform. Keefe, Bruyette & Woods said that it recently had the opportunity to spend some time with the management team of Wright Express hosting a series of investor meetings. “Recent Meeting with Management...
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Deutsche Bank Raises PT On Paychex To $28
Thursday, June 23, 2011 - 6:31am | 26Deutsche bank has raised the price target on Paychex (NASDAQ: PAYX) from $27 to $28 and maintains its Hold rating.
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Paychex, Inc. Reports 2.9% Rise in Profit
Wednesday, June 22, 2011 - 4:23pm | 214Shares of Paychex, Inc. (NASDAQ: PAYX) are trading lower in the after-hours following the release of its Q4 earnings results. Currently, shares are lower by 0.02%, trading at $29.70; they ended the session lower by 0.87%, at $29.71. Paychex, Inc. said that Q4 EPS came in at $0.33 on revenues of $...
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Paychex Reports Inline Earnings
Wednesday, June 22, 2011 - 4:17pm | 155Paychex (NASDAQ: PAYX) shares are slightly lower in after-hours trading, down a fraction of 1% after it reported quarterly earnings that were inline with estimates. The company reported quarterly earnings of 33 cents per share on $522.7 million in revenues. Wall Street had been expecting earnings...
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J.P. Morgan Previews F4Q11 On PAYX
Wednesday, June 22, 2011 - 8:59am | 175J.P. Morgan is maintaining its Underweight rating and its $32 price target on Paychex (NASDAQ: PAYX) as the company prepares to release its F4Q11 numbers tomorrow. Says J.P. Morgan, in its report, “PAYX plans to report F4Q11 (May) results after the close on June 22 with a call on June 23 at 10:30...
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US Stock Futures Down, Fed In Focus
Wednesday, June 22, 2011 - 6:17am | 531US stock futures are lower this morning, as investors are awaiting the latest interest-rate decision from the Federal Reserve. The Greek government won a key confidence vote late Tuesday. Futures on the Dow Jones Industrial Average dipped 24 points to 12,064.00 and futures on the S&P 500 stock...