Benzinga | Apr 6, 2021 09:12AM EDT

Paychex: Q3 Earnings Insights



Shares of Paychex (NASDAQ:PAYX) moved higher by 0.8% in pre-market trading after the company reported Q3 results.

Quarterly Results

Earnings per share fell 1.03% year over year to $0.96, which beat the estimate of $0.92.

Revenue of $1,112,000,000 decreased by 2.71% from the same period last year, which beat the estimate of $1,110,000,000.

Outlook

Paychex hasn't issued any earnings guidance for the time being.

Paychex hasn't issued any revenue guidance for the time being.

How To Listen To The Conference Call

Date: Apr 06, 2021

Time: 09:30 AM

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

Technicals

52-week high: $101.15

Company's 52-week low was at $58.85

Price action over last quarter: Up 6.85%

Company Description

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.