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-4.44503711605588E-05 0.000666755567409013 0.00200026670222704 0.00306707561008133 0.00573409787971726 0.00404498377561451 -0.00755656309730181 -0.00515624305462949
Stock impact report

Paychex's higher quarterly expenses overshadow annual earnings forecast raise [Yahoo! Finance]

Paychex, Inc. (PAYX) 
Last paychex, inc. earnings: 3/25 08:15 am Check Earnings Report
US:NASDAQ Investor Relations: investor.paychex.com
Company Research Source: Yahoo! Finance
Shares of the company were down 2.6% in early ?trading. They have fallen around 18% so far this year. Paychex said its total expenses rose 27% to $985.7 million in the quarter from a year earlier, driven by higher technology ?spending, and costs ?related to the integration of payroll processing firm Paycor. The company operates in a crowded market ?that includes large enterprise vendors such as Automatic Data Processing, Workday and Oracle, putting pressure on pricing and customer acquisition costs. "We ?are seeing a little bit smaller deal sizes," ?Paychex CFO Bob Schrader said on a post-earnings call. The company said that clients are being "very cost-conscious" and are "looking carefully" for value in managing their cost. Paychex has rolled out enhancements to its all-in-one HR management tool Paychex Flex, aimed ?at improving usability for both ?employers and employees. The company now expects ?annual adjusted earnings to grow between 10% and 11%, compared with its pr Show less Read more
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