Paychex Q1 Earnings: 3% Topline Growth, Margin Decline, CEO Calls Small And Medium Business Resilient

Payroll services company Paychex, Inc (NASDAQ:PAYX) stock gained after fiscal first quarter results. The company reported sales growth of 3% year over year to $1.32 billion, in-line with the analyst consensus estimate. Adjusted EPS of $1.16 beat the analyst consensus estimate of $1.14. Management Solutions revenue rose 1% year over year to $961.7 million, led by growth in the number of clients served across the human capital management (HCM) solutions suite and higher product penetration, including HR Solutions and Retirement. Revenue from Professional Employer Organizations (PEO) and ...