Shares of human capital management solutions provider Paychex, Inc. (PAYX) are rising more than 4% Wednesday morning after reporting better-than-expected third-quarter results.
Profit in the third quarter increased to $467.4 million or $1.29 per share from $430.7 million or $1.19 per share in the same quarter a year ago on revenue growth. Analysts on average, were expecting a profit of $1.24 per share.
Quarterly revenue increased to $1.381 billion from $1.276 billion last year, helped by growth in service revenue. The consensus estimate was for $1.36 billion.
Looking forward, the company has raised the lower limit of its adjusted EPS outlook. The company now expects adjusted EPS to grow 13%-14% from last year, compared with 12%-14% growth anticipated earlier.
PAYX is at $114.25 currently. It has traded in the range of $105.66-$141.92 in the last 1 year.
For comments and feedback contact: editorial@rttnews.com
Business News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.