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 was 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.
