- Paychex tops Street 4Q forecasts
ROCHESTER, N.Y. (AP) _ Paychex Inc. (PAYX) on Wednesday reported fiscal fourth-quarter profit of $195.3 million.
The Rochester, New York-based company said it had profit of 54 cents per share.
The results topped Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of 53 cents per share.
The payroll processor and human-resources services provider posted revenue of $798.6 million in the period, which also beat Street forecasts. Thirteen analysts surveyed by Zacks expected $798.2 million.
For the year, the company reported profit of $817.3 million, or $2.25 per share. Revenue was reported as $3.15 billion.
Paychex shares have fallen nearly 4 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed 8 percent. The stock has climbed 8 percent in the last 12 months.
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