Professional employer organization Insperity Inc. (NYSE: NSP) reported first-quarter revenue rose 14.9% on a 12.2% increase in the average number of worksite employees paid per month.

The Houston-based company attributed worksite employee growth to strong new client sales driven by an increase in the number of trained business performance advisors, a continuing high level of client retention and an improvement in the net hiring of worksite employees by its client base.

Insperity previously disclosed President Richard Rawson, an executive officer of Insperity for more than 28 years, will retire on May 18, but will remain on its board of directors.

Quote

“We are pleased to report these outstanding record results reflecting our dynamic business model and strong execution all across the company,” Chairman and CEO Paul Sarvadi said. “Our key drivers to growth and profitability are in place setting up a fourth consecutive year of impressive earnings growth for 2018.”

Share price and market cap

Shares in Insperity rose 5.4% to $80.62 as of 1:50 p.m. Eastern time. The company had a market cap of about $3.4 billion.