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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Paychex    PAYX

PAYCHEX

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Paychex, Inc. : Paychex 2nd-Quarter Net Up 5.3% on Human-Resources Revenue Growth

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12/19/2012 | 04:31pm EDT
   By Kristin Jones 
 

Paychex Inc.'s (PAYX) fiscal second-quarter earnings rose 5.3% as the company continued to see growth in revenue from its human-resources segment.

The company, which also provides benefits-outsourcing services to small and midsize businesses, has posted stronger earnings for more than two years as its main check-processing business generates more revenue per paycheck. The smaller human-resources segment has also posted revenue gains in recent quarters as the segment develops new business lines.

For the quarter ended Nov. 30, Paychex posted a profit of $147.9 million, or 41 cents a share, up from $140.4 million, or 39 cents a share, a year earlier. Revenue rose 4.3% to $569.4 million.

Analysts polled by Thomson Reuters were expecting a per-share profit of 41 cents on revenue of $573 million.

Operating margin widened to 40.4% from 39.9%.

Payroll-service sales, which provide the bulk of Paychex's revenue, increased around 1.4%, hurt by disruptions from superstorm Sandy. Human-resources revenue improved 12%.

Operating income excluding interest on funds held for clients was up 5.5%.

Shares were up five cents to $33.10 after hours. Through the close, the stock was up 9.8% since the start of the year.

Write to Kristin Jones at kristin.jones@dowjones.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

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Financials (USD)
Sales 2020 4 141 M
EBIT 2020 1 491 M
Net income 2020 1 120 M
Finance 2020 291 M
Yield 2020 3,00%
P/E ratio 2020 26,3x
P/E ratio 2021 24,3x
EV / Sales2020 7,00x
EV / Sales2021 6,48x
Capitalization 29 276 M
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Technical analysis trends PAYCHEX
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Mean consensus HOLD
Number of Analysts 21
Average target price 81,00  $
Last Close Price 81,47  $
Spread / Highest target 11,7%
Spread / Average Target -0,58%
Spread / Lowest Target -26,4%
EPS Revisions
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NameTitle
Martin Mucci President, Chief Executive Officer & Director
Blase Thomas Golisano Chairman
Efrain Rivera Chief Financial Officer, Treasurer & Senior VP
Michael E. Gioja SVP-Information Technology & Product Development
David J. S. Flaschen Independent Director
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