Professional employer organization Insperity Inc. (NYSE: NSP) reported revenue rose 14.7% in the first quarter to $802.4 million.

The average number of worksite employees paid per month in the quarter rose 14.8% year over year to 158,391. The continued acceleration of worksite employee growth was primarily the result of improved new client sales and a record level of client retention during the company’s heavy first quarter client renewal period, according to Insperity. Client attrition totaled 7.6% for the quarter, compared to 9.9% for the first quarter of 2015 and 12.8% for first quarter of 2014.

Quote

“Our excellent first-quarter results demonstrate the strength of our business model from accelerating worksite employee growth combined with substantial operating leverage,” said Chairman and CEO Paul Sarvadi. “The continuation of strong execution in sales and client retention provides a high level of confidence in the sustainability of our plan for high growth and profitability throughout 2016 and beyond.”

Share price and market cap

Insperity shares rose 9.40% in early afternoon trading to $57.73 and the company had a market cap of approximately $1.23 billion, according to Yahoo!