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Oppenheimer: PAYX Sales Activity Remains Tepid
Friday, March 25, 2011 - 9:34am | 136Oppenheimer reports that after Paychex Inc. (NASDAQ: PAYX) implemented various internal Sales initiatives in the fall, “new sales activity remained tepid during the key 3Q:FY11 selling season; partially due to continued depressed new business formation.” “Unfortunately, another year of decreased...
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J.P. Morgan Comments On Visa Management Meeting
Friday, March 25, 2011 - 9:18am | 127According to J.P. Morgan, it met with Visa (NYSE: V) management. J.P. Morgan reported that it came away with 1) a better understanding of the risks and opportunities ahead of Visa and 2) confidence that management has plans in place to defend its market share and economics (post regulation). “...
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J.P. Morgan Reports Paychex Estimates Largely Unchanged
Friday, March 25, 2011 - 9:01am | 139According to J.P. Morgan, Paychex (NASDAQ: PAYX) estimates are largely unchanged. J.P. Morgan reported that it is making minor adjustments to its PAYX estimates following F3Q11 results. “Although there was a slight beat in Rev/EPS, expectations for a seasonally weak 4Q, slowing metrics improvement...
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Deustche Bank Predicts PAYX FY12 Growth
Friday, March 25, 2011 - 8:48am | 85Deutsche Bank has issued a report on the predicted growth rate of Paychex (NASDAQ: PAYX). According to the report, “Keep Hold post in-line FY3Q/weak FY4Q outlook. Consistent w/ prevu, we expect Street #s for FY12 to be revised somewhat lower, as muted key selling season implies core payroll...
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Goldman Sachs Raises PAYX Target From $26 To $27
Friday, March 25, 2011 - 8:14am | 27Goldman Sachs is raising its PT on shares of Paychex Inc. (NASDAQ: PAYX) from $26 to $27. Paychex closed Thursday at $30.96.
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Halliburton Awarded Contracts for First Ultra-HP/HT Oil and Gas Drilling Project in Asia
Thursday, March 24, 2011 - 10:33am | 110Halliburton (NYSE: HAL) has been awarded several contracts for the provision of equipment and services on two offshore blocks in the South China Sea. This is the first ultra-high-pressure/high-temperature (HP/HT) oil and gas drilling project in Asia. The exploration campaign calls for two firm...
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TeleTech Announces Approval of Additional $50M Share Buyback
Thursday, March 24, 2011 - 9:01am | 62TeleTech Holdings, Inc. (NASDAQ: TTEC) today announced that its Board of Directors has approved an additional authorization of $50 million for share repurchases. During 2010, TeleTech's strong cash flow from operations, positive net cash position and solid balance sheet enabled the repurchase of...
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Morgan Stanley Reports Paychex F3Q May Support Current Levels But Not Higher Ones
Thursday, March 24, 2011 - 8:33am | 156According to Morgan Stanley, Paychex (NASDAQ: PAYX) F3Q may support current levels, but not higher ones. Morgan Stanley reported that, while F3Q was solid and generally in-line to slightly ahead of the Street, with shares trading at a 23x C11 P/E, it does not think there was enough in the results...
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American Chartered Bank Selects FIS' IBS for Its Robust Core Solution
Thursday, March 24, 2011 - 8:16am | 138FIS (NYSE: FIS), the world's largest provider of banking and payments technology, today announced that American Chartered Bank will deploy FIS' Integrated Banking Services (IBS) core processing solution. As part of this multi-year agreement, FIS will also deliver several supporting products...
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Oppenheimer Comments On PAYX's 3Q:FY11 Results
Thursday, March 24, 2011 - 7:53am | 122Paychex Inc. (NASDAQ: PAYX) 3Q:FY11 EPS were in line with Oppenheimer's $0.36 estimate. “Adjusted margins increased 100bp Y/Y to 36.0% (vs. our 35.7% estimate) driven by continued tight cost controls and likely lower selling costs,” Oppenheimer writes. “Checks/client continue to improve, while net...
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UPDATE: Citi Raising Price Target On Paychex Inc (PAYX)
Thursday, March 24, 2011 - 7:43am | 157Citi Investment Research is raising its price target on shares of Paychex Inc (NASDAQ: PAYX) to $32 from $29.50, and has a Hold rating on shares. In a note to clients, Citi writes, "PAYX delivered a solid margin performance and in-line revenues, leading to a modest EPS beat vs. consensus. The...
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Deutsche Bank Has Hold On Paychex (PAYX)
Thursday, March 24, 2011 - 7:36am | 166Deutsche Bank has a Hold rating and a $27 price target on shares of Paychex (NASDAQ: PAYX). In a note to clients, Deutsche Bank writes, "Paychex reported FY3Q11 revs of $531mm (+5% YoY), edging us by $7mm on slight upside across the board: Payroll revs (+2% YoY vs. our +1%), HRS revs (+13% vs. our...
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J.P. Morgan Comments On Meetings At CTIA With Neustar
Thursday, March 24, 2011 - 7:13am | 139According to J.P. Morgan, Neustar (NYSE: NSR) held meetings at CTIA. J.P. Morgan reported that it attended meetings with Neustar management yesterday at the annual CTIA conference in Orlando, FL. “The RFI for the NPAC contract that makes up ~60% of total NSR revenue remains delayed indefinitely....
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Paychex Inc Reports Q3 EPS of $0.36 vs. $0.35; Revenues $531.3M vs. $528.33M
Wednesday, March 23, 2011 - 4:03pm | 83Paychex, Inc. (NASDAQ: PAYX) today announced total revenue of $531.3 million for the three months ended February 28, 2011 , a 5% increase from $507.8 million for the same period last year. Net income increased 17% to $130.6 million and diluted earnings per share increased 16% to $0.36 per share....
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Paychex Reports $0.36 Vs. $0.35 Est.; $531.3 Vs. $528.37 Est. (PAYX)
Wednesday, March 23, 2011 - 4:02pm | 14Paychex Reports $0.36 Vs. $0.35 Est. (NASDAQ: PAYX)