Payroll and human resources provider Paychex, Inc. (PAYX) late Wednesday posted fiscal fourth quarter earnings that met analyst expectations, although its revenue total fell short of view.
The Rochester, NY-based company reported fiscal fourth quarter net income of $123.3 million, or 34 cents per share, compared with $118.9 million, or 33 cents per share, in the year-ago period.
Revenue rose 5% from last year to $551.5 million.
On average, Wall Street analysts expected a matching profit of 34 cents per share, albeit on higher revenue of $557.67 million.
Looking ahead, PAYX forecast fiscal 2013 earnings to rise 5% to 7% from 2012.
Paychex shares fell 30 cents, or -0.9%, in aftermarket trading Wednesday.
The Bottom Line
Shares of Paychex (PAYX) have a 4.01% dividend yield, based on last night’s closing stock price of $31.93. The stock has technical support in the $29-$30 price area. If the shares can firm up, we see overhead resistance around the $34-$36 price levels.
Paychex, Inc. (PAYX) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.