Sep. 30, 2015, 8:36 AM
- Paychex (NASDAQ:PAYX): FQ1 EPS of $0.58 beats by $0.07.
- Revenue of $723M (+8.4% Y/Y) beats by $5.45M.
- Shares +1.06% PM.
Oct. 13, 2014, 5:07 PM
- In an article now out of embargo, David Hernandez observes Paylocty (PCTY +3.1%) has posted a 40% revenue CAGR over its last 4 fiscal year, thanks in large part to the ability of its cloud payroll software to take share from traditional payroll outsourcing providers such as ADP and Paychex (NASDAQ:PAYX).
- He notes Paylocity CEO Steve Beauchamp declared on a May CC (transcript) "more than 50% of our new business" comes from displacing traditional payroll outsources, while adding "ADP and Paychex would be the two most common providers in that space."
- ADP has rolled out its own cloud payroll offerings in an attempt to counter upstarts such as Paylocity. Paychex bought online payroll service provider SurePayroll in 2011.
- Though admitting ADP and Ultimate Software are beginning to provide tougher competition in Paylocity's midmarket niche, Hernandez still sees plenty of room for growth in the near-term, given the company has penetrated less than 2% of the midmarket (estimated to have 656K organizations as of 2010).
Jul. 1, 2014, 5:28 PM
- Paychex (PAYX) -1.9% AH, reversing initial gains after announcing FQ4 earnings rose 18% Y/Y on continued revenue growth in its payroll and human resource services businesses.
- Payroll service sales rose 3.1% Y/Y to $394.5M amid higher prices, as well as growth in its client base and checks per payroll; human resources revenue rose 22% to $234M, driven primarily by client-base growth.
- For recently started FY 2015, PAYX expects earnings growth of 6%-8%, vs. analyst consensus estimate for profit growth of 8%; sees growth in total service revenues of 8%-10% to $2.62B-$2.67B, payroll service revenues +3%-5%, HRS revenues +16%-19%.
Jun. 26, 2013, 5:30 PM
Jun. 26, 2013, 4:29 PM
More on Paychex: Company expects 8%-9% net income growth in FY14. Consensus is for EPS to grow 9%. Payroll service revenue grew 4% Y/Y in FQ4, it's expected to grow 3%-4% in FY14. Human Resources Services revenue grew 13%, it's expected to grow 9%-10% in FY14. Funds held for clients rose 3% Y/Y to $4.18B, interest on held funds is expected to drop 7%-9% in FY14. PAYX -2.7% AH. CC tomorrow at 10:30AM ET (webcast). (PR)| Jun. 26, 2013, 4:29 PM
Sep. 25, 2012, 11:00 AMPaychex (PAYX -2.9%) shares sink as FQ1 revenues fall short of expectations amid difficulty attracting new business in the sluggish jobs market. Following the results, Citibank downgrades PAYX to Sell, noting it sees "limited near-term catalysts for the stock given our expectation for meager job growth and low interest rates." | Sep. 25, 2012, 11:00 AM
Sep. 24, 2012, 4:03 PMPaychex (PAYX): FQ1 EPS of $0.42 beats by $0.01. Revenue of $578M (+3% Y/Y) beats by $21M. Shares -2.5% AH. (PR) | Sep. 24, 2012, 4:03 PM
Mar. 28, 2012, 4:13 PM
Mar. 1, 2012, 12:22 PM
Mar. 1, 2012, 11:22 AM
Dec. 21, 2011, 2:55 PM
Paychex (PAYX -3.5%) shares slide after FQ2 profit beat expectations helped by revenue growth in its payroll processing business, but it offers a cautious outlook. Growth in its "checks per client," the number of paychecks clients issued divided by its average customer base, slowed to 1.5% from 2% Q/Q, and PAYX sees continued "moderation" in the measure.| Dec. 21, 2011, 2:55 PM | 1 Comment
Sep. 27, 2011, 4:30 PM
More on Paychex's (PAYX) FQ1 report: Payroll service revenue improved 6% to $382M, while Human Resource Services revenue gained 17% to $170M. Reiterates previous FY12 guidance - seeing total service revenue adding 7%-9%, and net income in a range of 5%-7%. Shares +3% AH. (PR)| Sep. 27, 2011, 4:30 PM