BUZZ - Paychex stock drops after releasing first-quarter earnings report

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September 23 - ** Payroll service provider Paychex (PAYX.O) shares fell 4.3%, closing at $109.64

** The company reported (link) first-quarter revenue of $1.63 billion, above analysts’ average estimate of $1.627 billion — data compiled by LSEG

** Management Solutions business reported first-quarter revenue of $1.21 billion, below the expected $1.23 billion

** Adjusted earnings per share for the first quarter came in at $1.34, above the expected $1.32

** As of the previous trading day’s close, the stock was up 2.1% so far this year

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