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Fly News Breaks for March 28, 2019
PAYX
Mar 28, 2019 | 05:33 EDT
Paychex's Q3 revenue and earnings were largely inline with expectations, Jefferies analyst Samad Samana tells investors in a research note. While the quarter leaves the company on track to hit fiscal 2019 targets, its the initial outlook for fiscal 2020 was mixed, says the analyst. He notes revenue was slightly below his target but margins were better. Samana raised his price target for Paychex to $78 from $75 and keeps a Hold rating on the name.
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