Paychex shares slip on higher quarterly expenses

Shares of payroll services provider Paychex PAYX.O down 1.1% at $113.01

Co reports about 27% increase in total expenses in Q2 to $985.7 mln, due to higher technology cost and costs related to Paycor integration

PAYX reports Q2 revenue of $1.56 bln, slightly missing estimates of $1.57 bln, according to LSEG-compiled data

Co raises lower end of its fiscal 2026 adjusted earnings growth forecast; now expects between 10% and 11%, compared to prior expectations between 9% and 11%

PAYX posts Q2 earnings of $1.26 per share, topping estimates of $1.23 per share

Up to last close, PAYX had fallen 18.5% YTD