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Paychex (PAYX) Q4 Earnings Meet Estimates, Revenues Top
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Paychex, Inc. (PAYX - Free Report) reported fourth-quarter fiscal 2018 results, (ended Mar 31, 2018) adjusted earnings per share of 61 cents, which came in line with the Zacks Consensus Estimate. Earnings increased 17% on a year-over-year basis.
How Was the Estimate Revision Trend?
Investors should note that the Zacks Consensus Estimate for fourth-quarter fiscal 2018 earnings remained unchanged over the last 30 days.
The company has an impressive earnings history having outperformed the Zacks Consensus Estimate in all of the last four quarters with an average positive surprise of 1.7%.
Paychex recorded revenues of $871.1 million which beat the Zacks Consensus Estimate of $867.6 million. Revenues compared favorably with the year-ago figure of $798.6 million.
Key Stas to Note: The company’s Human Resource Services segment witnessed 17% year over year growth mainly driven by a rise in client bases across comprehensive HR outsourcing services, including HROI; time and attendance; retirement services; and insurance services.
Check back later for our full write up on this Paychex earnings report later!
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
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Paychex (PAYX) Q4 Earnings Meet Estimates, Revenues Top
Paychex, Inc. (PAYX - Free Report) reported fourth-quarter fiscal 2018 results, (ended Mar 31, 2018) adjusted earnings per share of 61 cents, which came in line with the Zacks Consensus Estimate. Earnings increased 17% on a year-over-year basis.
How Was the Estimate Revision Trend?
Investors should note that the Zacks Consensus Estimate for fourth-quarter fiscal 2018 earnings remained unchanged over the last 30 days.
The company has an impressive earnings history having outperformed the Zacks Consensus Estimate in all of the last four quarters with an average positive surprise of 1.7%.
Paychex, Inc. Price
Paychex, Inc. Price | Paychex, Inc. Quote
Revenues Higher Than Expected
Paychex recorded revenues of $871.1 million which beat the Zacks Consensus Estimate of $867.6 million. Revenues compared favorably with the year-ago figure of $798.6 million.
Key Stas to Note: The company’s Human Resource Services segment witnessed 17% year over year growth mainly driven by a rise in client bases across comprehensive HR outsourcing services, including HROI; time and attendance; retirement services; and insurance services.
Zacks Rank: Currently, Paychex has a Zacks Rank #2 (Buy) but that could change following the company’s earnings report which was just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Check back later for our full write up on this Paychex earnings report later!
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>