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Fly News Breaks for November 26, 2018
PAYX
Nov 26, 2018 | 15:12 EDT
Jefferies analyst Samad Samana believes Paychex acquisition of Oasis for $1.2B in cash is a positive for the company. Samana believe the Oasis acquisition strengthens the business segment, as Paychex gains increased scale, can cross-sell time and attendance and its retirement offerings, and it gives Paychex increased coverage/exposure outside of its core PEO markets. The analyst added that there may be a "longer-term revenue opportunity in converting Oasis's customers from their current software to Paychex Flex." Samana maintained a Hold rating and $75 price target on Paychex shares.
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