Paychex Investors Should View Benign Workers' Comp Environment as the Exception, Not the Rule
This quarter, wide-moat Paychex began absorbing its acquisition of Oasis Outsourcing with no noticeable indigestion. The company earned $0.90 per share in GAAP earnings while producing revenue just shy of $1.1 billion. Though the quarter was noisy, the results are mostly in line with our expectations. Management solutions revenue, which includes payroll, decelerated to 4% year-over-year growth while the lion’s share of growth came from the inclusion of Oasis. Most importantly, Paychex included i...Paychex is a provider of integrated human capital management (HCM) solutions for payroll, benefits, human resource (HR), and insurance services for small- to medium-sized businesses. The company's portfolio of HCM and employee benefit-related services include: payroll processing services; payroll tax administration services; employee payment services; regulatory compliance services (new-hire reporting and garnishment processing); HR Solutions Administrative Services Organization; retirement services administration; HR administration services, including time and attendance; other HR services and products; business services; Professional Employer Organization services; and insurance services.
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