Benzinga | Oct 6, 2020 08:41AM EDT

Paychex: Q1 Earnings Insights

Shares of Paychex (NASDAQ:PAYX) increased 0.2% in pre-market trading after the company reported Q1 results.

Quarterly Results

Earnings per share decreased 11.27% over the past year to $0.63, which beat the estimate of $0.55.

Revenue of $932,200,000 declined by 6.03% year over year, which beat the estimate of $895,380,000.

Looking Ahead

Paychex said it sees FY21 adjusted EPS down 6%-8% year over year.

How To Listen To The Conference Call

Date: Oct 06, 2020

Time: 09:30 AM

ET Webcast URL: https://edge.media-server.com/mmc/p/wb7nis78

Price Action

52-week high: $90.53

Company's 52-week low was at $47.87

Price action over last quarter: Up 8.99%

Company Profile

Paychex competes in the payroll outsourcing industry. It is the second- largest player in terms of revenue and focuses on providing this service to small and midsize businesses. Paychex was created from the consolidation of 17 payroll processors in 1979 and services about 590,000 clients. The firm has almost 13,000 employees and is based in Rochester, New York.