Company Of The Day: Paychex
Payroll company Paychex (NYSE:PAYX) posted a stronger than expected set of Q4 FY’22 earnings. While revenue rose by almost 11% year-over-year to $1.14 billion, non-GAAP earnings stood at $0.81 per share.
Growth was driven by an expanding base of payroll clients and strong demand for HR solutions, given the strong U.S. job market.
However, PAYX stock declined by 4% in Wednesday’s trading, likely due to the company’s FY’23 guidance of 7% to 8% revenue growth, which is below last year’s growth rate.
See Our Complete Analysis For Paychex
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