Paychex Inc. (NASDAQ, Sept. 25 -- Paychex shareholders watched roughly $10 per share disappear on Wednesday after the company posted a quarterly earnings beat. The market's answer to clean numbers was a sharp selloff, and the explanation sat inside a guidance table that changed almost nothing.

PAYX) reported adjusted diluted earnings of $1.34 per share for its fiscal first quarter ended August 31, two cents above the consensus estimate of $1.32, on revenue of $1.63 billion that advanced 6% from the prior year. The stock fell 8.77% to close at $104.49, its steepest single-session drop in more than a year, as investors processed what the quarterly report contained and, more pointedly, what it did not. According to Seeking Alpha, Paychex sh...