Investing.com - Paychex (NASDAQ:PAYX) reported on Friday fourth quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Paychex announced earnings per share of $0.72 on revenue of $1.03B. Analysts polled by Investing.com anticipated EPS of $0.6695 on revenue of $966.91M.
Paychex shares are up 11% from the beginning of the year, still down 0.85% from its 52 week high of $105.17 set on June 11. They are broadly in line with the Nasdaq which is up 11.49% from the start of the year.
Paychex follows other major Information Technology sector earnings this month
Paychex's report follows an earnings beat by Adobe on June 17, who reported EPS of $3.03 on revenue of $3.84B, compared to forecasts EPS of $2.81 on revenue of $3.73B.
Salesforce.com had beat expectations on May 27 with first quarter EPS of $1.21 on revenue of $5.96B, compared to forecast for EPS of $0.8922 on revenue of $5.89B.
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