Paychex is reporting profits and sales that beat Wall Street estimates.
The company saw profits of nearly $236 million, up 19 percent from a year ago. Sales rose seven percent to nearly $859 million.
The company earned .65 a share, two cents a share higher than some Wall St. estimates.
CEO Marty Mucci says one area that has been generating solid revenue for Paychex is the human resource services that the company offers to its customers.
“When you think of small to mid-sized businesses, they don’t always have the benefits and the insurance and the HR support on how to recruit and retain employees; the services that we provide are so much beyond payroll these days,” Mucci told WXXI News.
Mucci says that especially in a tight labor market, smaller businesses need help in providing insurance, retirement funds and other benefits to help attract new employees, and he says that’s something Paychex can help them with.
