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Paychex produced strong financial results, with third-quarter total revenue growth of 8% and adjusted diluted earnings per share growth of 12%. It managed to deliver an all-around beat Revenue for Management Solutions climbed 7% to $1 billion because of new product attachments and auxiliary HR services. The continued high demand for their ERTC service accounted for about 1% of the quarter's revenue growth. With ERTC acting as a tailwind, demand for this product has outperformed the company's est
Companies: PAYCHEX (PAYX:NYSE)Paychex, Inc. (PAYX:NAS)
Baptista Research
Paychex's stock has started seeing the first signs of recovery after the company delivered a good result, outperforming Wall Street expectations in terms of revenues and earnings. The management’s ongoing investments in cutting-edge HR technology puts the company in a unique position to assist small and mid-sized enterprises in navigating a highly complex and dynamic environment. They unveiled Paychex Voice Assist, their most recent invention. This is a logical extension of Paychex's vast, const
Paychex had a strong quarter with growth driven by strong retention and sales. The company delivered an all-around beat surpassing market expectations and there was an increase in total revenue as well as service revenue. Among major updates, the management announced new enhancements that are designed to help employers to better protect worker safety and health, namely compensation summary reports, secure document management, financial wellness services, and Paychex Iris Time Clock. The company
Companies: Paychex, Inc. (PAYX:NAS)Paychex, Inc. (0KGE:LON)
Paychex has reported a good financial result for the last quarter as it continues to view positive trends in its key target markets. The company saw double-digit growth in the innovative annualized revenue over every business line including insurance, payroll, retirement, and HR outsourcing. Paychex’s revenue retention has remained at record levels as it continues to bring more focus on its higher-value clients. The demand for its comprehensive PEO and ASO HR offerings and integrated technology
Paychex reported a solid financial result for the second quarter of fiscal 2022, with revenue from management solutions, PEO, and insurance increasing by double digits year-over-year and adjusted diluted earnings per share increasing by 25%. The company continued its momentum from the first quarter, with positive trends across all business lines. Paychex saw its highest year-over-year growth in new annualized revenue in over five years, as well as a record-high amount of annualized revenue sold
For Paychex Inc, the 2022 fiscal has been off to a strong start with an excellent quarterly result that was well above Wall Street expectations. The company witnessed an increase of 16% in total revenue with double-digit growth in Management Solutions and PEO and Insurance Solutions. Interestingly, despite the general inflationary environment, the company actually saw a decline of 1% in its total expenses while its adjusted Net Income increased by a staggering 42%. The positive macroeconomic tre
Paychex had a better-than-expected quarter and has achieved the price target from our previous report. The company witnessed a strong boost in its HR outsourcing solutions and its overall Management Solutions segment revenue grew by as much as 14%. The management has been expanding its client base and also cross-selling its offerings in order to increase the overall penetration of its suite of solutions. The company’s offerings have gained momentum with the work-from-home culture becoming more a
Companies: PYCT PCX PAYX PYCT 0KGE
Research Tree provides access to ongoing research coverage, media content and regulatory news on Paychex, Inc.. We currently have 1 research reports from 3 professional analysts.
Interims to January are in line with the February TU, and materially unchanged forecasts for the FY July 2024. After the well flagged expected 1H24 revenue movement of -7% (vs 1H23 which had been strengthened by c£2m perpetual licence sales in the US), prospects for the second half are supported by several new contracts that will generate revenue in 2H24, in addition to material contract delivery milestones from existing large projects such as major TRACS Enterprise, Railhub deployments, and Rem
Companies: Tracsis plc
Cavendish
Eleco’s FY23 results show robust organic recurring revenue growth of +17% with recurring revenue +22% to £20.7m, adj EBITDA +2% ahead of the January update, and a confident outlook with Q1 ARR already at £24.5m vs £22.6m at FY23. At this point, the excellent start to FY24 leads us to reiterate our FY24-26E revenue, adj EBITDA, EFCF, and DPS, and we include the April 2024 acquisition of Vertical Digital in our FY24-26E net cash, as we explain below. As Eleco builds upon the successful acquisition
Companies: Eleco Plc
Made Tech has won a material expansion (worth up to £19.5m/2yrs) with a long-standing customer, The Department for Levelling Up, Housing and Communities (“DLUHC”). Coming off the back of a soft H1 bookings performance, we expect this win to materially boost investor sentiment and reassure how notwithstanding a tough backdrop (given an impending general election) MTEC continues to outcompete legacy providers and in-so-doing, grow its share of wallet with large/strategic customers. Landing near FY
Companies: Made Tech Group PLC
Singer Capital Markets
Companies: 88E CNC FTC TRCS HEIQ CREO ZAM
Companies: 1Spatial Plc
Liberum
Following the updated guidance published last week, Alphawave reported a 74% YoY increase in revenue to US$321.7m for FY23 generating adjusted EBITDA of US$62.6m, up 34% YoY. As previewed, bookings in 1Q24 were strong at US$117.9m, up 20% YoY and ahead of guidance. The results release and conference call confirm that revised guidance mainly reflects a more conservative approach to revenue recognition under new CFO, Rahul Mathur, and an acceleration in the pace at which Alphawave is pivoting away
Companies: Alphawave IP Group PLC
Capital Access Group
tinyBuild’s FY23 results confirmed a sharp drop in revenue and swing into adjusted EBITDA losses, as well as asset impairments and high cash burn. After already making $10m of annualised cost savings, the company continues to run-down its cash balance and now relies on a H2-weighted release schedule to reduce cash outflows.
Companies: tinyBuild Inc.
Zeus Capital
Companies: Cerillion Plc
Cerillion has announced a very solid update, as H1 sales and EBITDA are both up 10% y/y to £22.5m and £10.9m respectively, notwithstanding the exceptionally strong base period (sales and EBITDA +27% and +38% resp.). Results therefore point to continued strong customer demand, reflecting how Cerillion’s out-of-the-box product continues to resonate and gain adoption, particularly in a ‘budget conscious’ environment, by offering faster time to market, greater configurability and at a lower cost. Me
Companies: Synectics PLC
Shore Capital
We view confirmation of market forecasts / PEN's February update as providing further validation for the company's strategy. Ongoing business streams (including the concluding stage of the Boeing / Apache contract) provide underpinning for forecasts for the current year and software-derived earnings as strategized look set to rise in FY24 with the launch of the company's GenS technology (well-regarded and long-established OmegaPS series update). Tuesday's statement from the Prime Minister ple
Companies: Pennant International Group plc
WHIreland
24th April 2024 * A corporate client of Hybridan LLP ** Arranged by type of listing and date of announcement *** Alphabetically arranged **** Potential means Intention to Float (ITF) has been announced Dish of the day Admissions: Delistings: What’s baking in the oven? ** Potential**** Initial Public Offerings: Reverse Takeovers: 16 April 2024: Electric Guitar (ELEG.L) Concurrent with its Admission to trading on AIM, Electric Guitar is proposing to acquire the entire issued share capital of 3radi
Companies: FTC AGL SRT SOU G4M AOM SUP
Hybridan
As reported in March, underlying EBITDA profitability improved to record levels despite FX headwinds. Further platform and proposition developments were completed, key steps on its digital roadmap, and it has already won 7 contracts YTD. Alongside planned growth in private membership, this will at least offset the loss of one contract. Forecasts are left unchanged today and, as member engagement throttles back up, FX headwinds ease, and proof points of digital efficiency emerge, markets should b
Companies: Ten Lifestyle Group PLC
itim is a disruptive SaaS-based platform that enables store-based retailers to implement a proven Omni-channel solution. This morning, the group has announced an additional professional services contract with its long-standing client, The Entertainer. Following a year-long trial, The Entertainer is opening in over 800 Tesco stores across the UK & Ireland, alongside a supplier agreement for Tesco stores across Central Europe. Under the contract, The Entertainer will extend its use of itim's Unify
Companies: Itim Group PLC
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