Paychex rises as quarterly earnings beat estimates

Paychex

26/03/2025 18:30

** Shares of Paychex PAYX.O rise 5.6% to $152.25 on Wed after the employment servicing firm reported quarterly earnings that came slightly ahead of analyst estimates

** PAYX is on track for biggest daily pct gain since Nov. 6 and highest close since Mar. 10 this year

** Co reported adj EPS of $1.49 and rev of $1.51 bln, up 4.8% from year ago; analysts had expected adj EPS of $1.48 and rev of $1.52 bln

** Among 18 analysts that cover PAYX, their avg rating is "HOLD" and median PT is $140.50

** Paychex, which has more than 745,000 clients in the U.S. and Europe, offers HR outsourcing, human capital management technology, payroll processing, and retirement and insurance solutions

** PAYX is up 8.40% YTD with today's move vs ~10% drop in S&P 500 technology index .SPLRCT

 (Reporting by Chibuike Oguh in New York)

 ((Chibuike.Oguh@thomsonreuters.com; +332-219-1834; Reuters Messaging: chibuike.oguh.thomsonreuters.com@reuters.net))