Profile
Sector:
IndustrialsIndustry:
Staffing & Employment ServicesCountry:
United StatesIPO:
26 August 1983Website:
http://www.paychex.comNext earnings report:
27 September 2024Last dividends:
09 May 2024Next dividends:
N/APrice
after hours | Wed, 03 Jul 2024 20:22:53 GMTAnalysts recommendations
Institutional Ownership
Included in screeners
PAYX Latest News
Paychex (PAYX) reported earnings this morning and beat Wall Street analysts' expectation on both the top and bottom line, while also showing year-over-year growth.
Paychex, Inc. (NASDAQ:PAYX ) Q4 2024 Earnings Conference Call June 26, 2024 9:30 AM ET Company Participants John Gibson - President and CEO Bob Schrader - CFO Conference Call Participants Bryan Bergin - TD Cowen Kevin McVeigh - UBS James Faucette - Morgan Stanley Samad Samana - Jefferies Caroline Latta - Bank of America Andrew Nicholas - William Blair Ashish Sabadra - RBC Capital Markets Peter Christiansen - Citi Ramsey El-Assal - Barclays Bryan Keane - Deutsche Bank David Togut - Evercore ISI Kartik Mehta - Northcoast Research Scott Wurtzel - Wolfe Research Operator Good morning and welcome to the Fourth Quarter 2024 Paychex Earnings Conference Call. With us today are John Gibson and Bob Schrader.
Paychex's (PAYX) fourth-quarter fiscal 2024 earnings and revenues rise y/y.
The headline numbers for Paychex (PAYX) give insight into how the company performed in the quarter ended May 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
ROCHESTER, N.Y.--(BUSINESS WIRE)--Paychex, Inc. (the "Company," "Paychex," "we," "our," or "us") today announced the following results for the fiscal quarter ended May 31, 2024 (the "fourth quarter") and fiscal year ended May 31, 2024 ("fiscal 2024"), as compared to the corresponding prior-year period: Fourth Quarter Fiscal Year In millions, except per share amounts 2024 2023 Change(2) 2024 2023 Change(2) Total revenue $ 1,295.1 $ 1,229.6.
Payroll and HR solutions player Paychex is expected to publish its Q4 FY'24 results on June 26, reporting on a period that saw the U.S. job market remain relatively buoyant. We expect earnings for the quarter to come in at about $1.06 per share, marginally ahead of consensus estimates, while revenues are likely to grow about 5% year-over-year to $1.3 billion.
Get a deeper insight into the potential performance of Paychex (PAYX) for the quarter ended May 2024 by going beyond Wall Street's top -and-bottom-line estimates and examining the estimates for some of its key metrics.
Paychex stock currently trades at $118 per share, around 16% below its level of $141 seen on April 6, 2022 (pre-inflation shock high), and has the potential for gains. In comparison, the company's peer ADP stock has remained roughly flat over the same period.
Investors are encouraged to utilize the Zacks Earnings ESP tool in order to identify stocks that are likely to exceed quarterly earnings expectations.
Jefferies has slapped a hold rating on Paychex Inc (NASDAQ:PAYX) stock after the human resources group reported a third-quarter revenue shortfall and downbeat forecast. Paychex's revenues fell short of expectations mainly due to lower Employee Retention Tax Credit (ERTC) claims, softer hiring trends, and greater discounting than anticipated.
What type of business is Paychex?
Paychex, Inc. provides integrated human capital management solutions for human resources (HR), payroll, benefits, and insurance services for small to medium-sized businesses in the United States, Europe, and India. It offers payroll processing services; payroll tax administration services; employee payment services; and regulatory compliance services, such as new-hire reporting and garnishment processing. The company also provides HR solutions, including payroll, employer compliance, HR and employee benefits administration, risk management outsourcing, and the on-site availability of a professionally trained HR representative; and retirement services administration, including plan implementation, ongoing compliance with government regulations, employee and employer reporting, participant and employer online access, electronic funds transfer, and other administrative services. In addition, it offers cloud-based HR administration software products for employee benefits management and administration, time and attendance, digital communication solutions, recruiting, and onboarding solutions; plan administration outsourcing and state unemployment insurance services; various business services to small to medium-sized businesses comprising payroll funding and outsourcing services, which include payroll processing, invoicing, and tax preparation; and payment processing services, financial fitness programs, and a small-business loan resource center. Further, the company provides insurance services for property and casualty coverage, such as workers' compensation, business-owner policies, cyber security protection, and commercial auto, as well as health and benefits coverage, including health, dental, vision, and life. It markets and sells its services primarily through its direct sales force. The company was founded in 1971 and is headquartered in Rochester, New York.
What sector is Paychex in?
Paychex is in the Industrials sector
What industry is Paychex in?
Paychex is in the Staffing & Employment Services industry
What country is Paychex from?
Paychex is headquartered in United States
When did Paychex go public?
Paychex initial public offering (IPO) was on 26 August 1983
What is Paychex website?
https://www.paychex.com
Is Paychex in the S&P 500?
Yes, Paychex is included in the S&P 500 index
Is Paychex in the NASDAQ 100?
Yes, Paychex is included in the NASDAQ 100 index
Is Paychex in the Dow Jones?
No, Paychex is not included in the Dow Jones index
When does Paychex report earnings?
The next expected earnings date for Paychex is 27 September 2024