Paychex ( (PAYX) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
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Paychex stocks experienced a decline despite reporting strong Q1 earnings, including a 5% increase in adjusted EPS and a 17% rise in revenue. The drop in stock price is likely due to the company’s decision to keep its revenue growth guidance unchanged, which did not meet market expectations. Analysts continue to hold a consensus of ‘Hold’ on the stock, with potential for updated ratings following the earnings report.
More about Paychex
YTD Price Performance: -6.37%
Average Trading Volume: 2,462,165
Technical Sentiment Signal: Hold
Current Market Cap: $46.22B
For further insights into PAYX stock on TipRanks’ Stock Analysis page.
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