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...It was seen as a less favourable development for rival payments services providers, with PayChex down 1.3 per cent and Automatic Data Processing down 0.2 per cent....
...Despite big shareholder gains during the tenure of CEO Carlos Rodriguez the company’s profit margins are weak compared with rival Paychex....
...ADP has a low-margin international business and its base of very large clients are fundamentally less profitable that Paychex’s small company base....
...Shares in PayChex, the $22bn payroll processor, rose the most in 15 months after the company raised its full-year sales outlook....
...Jeffrey Silber, analyst at BMO Capital Markets, said many of the investors with whom he had spoken thought that Mr Ackman’s intent would be to improve margins — given ADP’s were well below that of rival PayChex...
...According to S&P Dow Jones, the index provider, four S&P 500 companies still have an all-male board: Coty, the beauty products manufacturer; Dentsply Sirona, the dental equipment company; PayChex, a provider...
...Shares in Paychex , a provider of payroll and human resources services, was down 2 per cent to $25.75 as Jonathan Judge, the company’s chief executive, resigned to pursue other interests....
...Paychex, the payroll services company, was the biggest gainer on the index, up 9.6 per cent to $25.88 after it reported better results than expected....
...Also reporting earnings was Paychex, whose shares rose 10 per cent to $33.01 after the payroll processor said new clients and higher prices helped it increase profits in the last quarter....
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