RTTNews | Dec 23, 2020 08:55AM EST

08:55 Wednesday, December 23, 2020 (RTTNews.com) - While reporting its financial results for the second quarter on Wednesday, Paychex Inc. (PAYX) raised its earnings and revenue outlook for fiscal 2021.

For fiscal 2021, Paychex now forecasts adjusted earnings per share to decline in a range of 1 percent to 4 percent, total revenue in a range of down 3 percent to flat, and Management Solutions revenue in a range of down 1 percent to up 1 percent.

Earlier, the company forecast fiscal 2021 adjusted earnings per share to decline in the range of 6 percent to 8 percent, total revenue to decline in a range of 2 percent to 4 percent, and Management Solutions revenue down in a range of 1 percent to 3 percent.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $2.82 per share for the year on revenues of $3.94 billion. Analysts' estimates typically exclude special items.

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