Revenue rose 9% at Paychex Inc. (NASD: PAYX) in the Rochester, NY-based company’s fiscal third quarter ended Feb. 28. However, revenue rose 17% in the firm’s Human Resource Services segment, which includes the company’s professional employer organization business. Revenue growth in the segment was driven by increases in the company’s client base.
Demand for Paychex’s HR services, which includes administrative services as well as PEO, resulted in strong growth in the number of client worksite employees served, according to the company.
(US$ millions) Q3 2018 Q3 2017 % growth Payroll service revenue $455.0 $446.6