AP NEWS

Paychex: Fiscal 4Q Earnings Snapshot

June 26, 2019

ROCHESTER, N.Y. (AP) _ Paychex Inc. (PAYX) on Wednesday reported fiscal fourth-quarter earnings of $230.4 million.

The Rochester, New York-based company said it had net income of 64 cents per share. Earnings, adjusted for pretax gains, came to 63 cents per share.

The results fell short of Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 65 cents per share.

The payroll processor and human-resources services provider posted revenue of $980.4 million in the period, surpassing Street forecasts. Seven analysts surveyed by Zacks expected $977.9 million.

For the year, the company reported profit of $1.03 billion, or $2.86 per share. Revenue was reported as $3.77 billion.

Paychex shares have increased 30% since the beginning of the year, while the Standard & Poor’s 500 index has risen 16%. The stock has risen 22% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PAYX at https://www.zacks.com/ap/PAYX

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