Paychex (PAYX -3.5%) shares slide after FQ2 profit beat expectations helped by revenue growth in...

|By:, SA News Editor

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.