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Technology Stocks : Paychex (PAYX) -- Ignore unavailable to you. Want to Upgrade?

To: lofalutin who wrote (203)	9/21/1999 1:16:00 AM
From: Beltropolis Boy	Respond to of 210

09:38 AM ET 09/20/99 RESEARCH ALERT - Priceline.com and Paychex raised NEW YORK, Sept 20 (Reuters) - Warburg Dillon on Monday said it has raised its ratings of Internet commerce firm Priceline.com Inc. to strong buy from buy and of Paychex Inc., a provider of payroll services, to buyfrom hold. -- On Priceline.com, Warburg Dillon analyst Sara Zeilstra said in a research note: "Recent sell-off overdone; we are confident that Microsoft (Corp. ) patent/competition issues are being addressed, and concerns regarding overhang are not as significant as previously thought." She raised third quarter margin estimate to 9.9 percent from 9.6 percent based on signs of improved pricing in travel services (but no net effect on earnings per share estimate). -- On Paychex, analyst F. Thomas O'Halloran said: "The company is having great success selling highly profitable ancillary human resource services into its existing customer base. As a result, the earnings per share slowdown we had feared six months ago is not materializing. Instead, we now believe Paychex will continue to deliver earnings growth of above our five-year growth projection over the next couple ofyears." -- Paychex earnings per share estimate for 2000 was raised to $0.72 from $0.69; For 2001, estimate was raised to $0.92 from $0.86. Its 12-month price target was raised to $42 from $31.

To: lofalutin who wrote (203)	12/11/1999 12:13:00 PM
From: Beltropolis Boy	Read Replies (1) \| Respond to of 210

fwiw ... ----- USA: RESEARCH ALERT - PaineWebber starts Paychex at buy 12/10/1999 Reuters English News Service NEW YORK, Dec 10 (Reuters) - PaineWebber said on Friday it started coverage of Paychex Inc. , a provider of payroll services, with a buy rating. - said 12-month price target is $50-55. - said the small business payroll market is huge and untapped, as less than 30 percent of companies outsource payroll today. - said Paychex is leader with critical mass, economies of scale, and multitude of key partnership channels. - said cross-selling of higher-margin and higher-growth services to core payroll customers fuels growth. - said high degree of recurring revenue offers excellent earnings visibility and shareholder value. - shares of Paychex closed on Thursday at 41-5/16 on Nasdaq.