Paychex (PAYX, $109.60) beats fiscal Q2 earnings expectations
Paychex posted fiscal second quarter earnings of 99 cents a share, topping analysts’ expectations of 95 cents a share (based on FactSet poll). The figure is also higher than the year-ago quarter’s 91 cents a share.
The human resources company’s revenue rose +7% from the year-ago quarter to $1.19 billion, r in line with analyst expectations, (according to FactSet).
Paychex now expects adjusted earnings per share growth between 12% and 14% for the fiscal year ending May 31, boosting its outlook from prior guidance of 11% to 12%.
The company now projects revenue growth of 8%, vs. prior forecast of 7% to 8% growth. It also raised its forecast for management solutions segment growth to between 7% and 8% while lowering growth expectations for its professional employer organization and insurance solutions business to between 5% and 7%.
Contributor
Sergey Savastiouk, Ph.D. has a degree in Applied Mathematics from Moscow University and has extensive experience as an entrepreneur, investor, manager, and mathematician. His professional expertise is in applied mathematics, mathematical modeling, system and pattern analysis, and software and hardware system integration. He has served as the CEO of several hi-tech start-up companies and nonprofit organizations, which has given him proven capabilities in business strategy for high-tech start-up companies, market assessment, company formation, team building, product development, marketing, and sales. He has published numerous articles in journals and magazines on related fields. As a retail investor, he spent 15 years developing his proprietary trading and quantitative algorithms (now Tickeron’s A.I.), which brought him significant returns in trading the stock market. His current work and goal in founding Tickeron is to bring professional, sophisticated stock market analysis capabilities to retail investors via an easy-to-use interface.
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