By Christiana Sciaudone
Investing.com -- Paychex (NASDAQ:PAYX) slumped almost 6% following a record high, and after reporting results that met expectations but did little else to inspire the market.
The stock hit a record Monday ahead of quarterly earnings. Sales of $1.1 billion met the expectations of analysts, while profit of 96 cents was slightly higher than the estimated 92 cents. Guidance for the fiscal year ending May 31, while not terribly inspiring, was as forecast.
Shares rose around 50% over the past 12 months, and profit are at the best since the quarter ended February 2020.