News & Analysis

Paychex beats estimates

31 March 2022 By Klavs Valters


Paychex Inc. reported its latest financial results before the opening bell on Wall Street on Wednesday.

The US payroll services company reported total revenue of $1.276 billion for the quarter ending February 28, 2022 (a 15% increase year-over-year) vs. $1.22 billion expected.

Earnings per share reported at $1.15 per share, above analyst estimates of $1.05 per share.

Martin Mucci, Chairman and CEO commented on the latest results: ”Our strong results for the third quarter, including double-digit growth in both revenue and earnings are a result of progress against key initiatives. We had a strong calendar year end and selling season, delivering a record quarter for new sales revenue and maintaining high levels of client retention. Our value proposition continues to resonate in the market with our unique blend of innovative Paychex Flex® technology and breadth of solutions to help small and mid-sized businesses.”

Paychex Inc. chart

Shares of Paychex were up by around 3% on Wednesday at $137.35 a share.

Here is how the stock has performed in the past year –

  • 1 Month: +13.59%
  • 3 Month: -0.47%
  • Year-to-date: +0.17%
  • 1 Year: +39.50%

Paychex is the 366th  largest company in the world with a market cap of $49.59 billion.

You can trade Paychex Inc. (PAYX) and many other stocks from the NYSE, NASDAQ, HKEX and the ASX with GO Markets as a Share CFD.

Sources: Paychex Inc., TradingView, CompaniesMarketCap

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