Paychex Improves FY21 Outlook - Quick Facts

(RTTNews) - While reporting financial results for the third quarter on Tuesday, payroll and HR services provider Paychex Inc. (PAYX) improved its earnings and revenue growth guidance for the full year 2021, reflecting client base growth and strong client retention.

For fiscal 2021, the company now projects both adjusted earnings per share and total revenues to range between a decline of 2 percent and flat.

Previously, the company expected adjusted earnings per share to decline in a range of 1 to 4 percent and total revenue in a range of down 3 percent to flat.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $2.94 per share on a revenue decline of 1.3 percent to $3.99 billion for the year. Analysts' estimates typically exclude special items.