Paychex Underperforms Despite Strong Q1

Paychex, a major player in HR and payroll services, has underperformed the market with a twenty-three percent drop in stock prices over the past year. Despite robust first-quarter growth, revenues hit one point five billion dollars, up seventeen percent year-over-year, and adjusted earnings per share grew five percent, the stock still declined after earnings release. Looking ahead, Paychex raised its full-year adjusted earnings per share growth guidance to a range of nine to eleven percent, with analysts expecting a nearly ten percent increase year-over-year.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.