5 Key Quarterly Reports to Watch

4. Paychex, Inc. (NASDAQ:PAYX)

Number of Hedge Fund Holders: 34

Shares of Paychex, Inc. (NASDAQ:PAYX) hit a new 52-week high of $135.46 on Wednesday, December 22, 2021, after delivering impressive financial results for its fiscal second quarter. The human-resources company reported adjusted earnings of 91 cents per share, beating expectations of 80 cents per share.

Revenue for the quarter jumped 13 percent on a year-over-year basis to $1.109 billion, ahead of analysts’ average estimate of $1.06 billion. Paychex, Inc. (NASDAQ:PAYX) said the results were helped by continued sales growth and customer retention.

The company also raised the profit outlook for its FY 2022. Paychex, Inc. (NASDAQ:PAYX) now expects its adjusted earnings to grow in the range of 18 – 20 percent versus its previous forecast of 12 – 14 percent growth.

Commenting on the quarter, CEO of Paychex, Inc. (NASDAQ:PAYX), Martin Mucci, said in a statement:

“Trends that emerged during the pandemic continue unabated, particularly the demand for human resource (“HR”) advice and the need for benefits packages that address talent needs. We continue to support our clients in a proactive manner, as we have done throughout the pandemic.”