Professional employer organization Insperity Inc. (NYSE: NSP) reported revenue rose 12.5% in the second quarter, driven by an increase in the average number of worksite employees paid per month.

The average number of worksite employees paid per month in the quarter rose 10.2% year over year to 180,276. All three drivers to worksite employee growth improved year over year: Worksite employees paid from new sales increased by 26%, client retention averaged 99.5%, and net hiring in Insperity’s client base was also positive for the quarter.

Insperity also announced today the launch of its Insperity Premier platform, a cloud-based human capital management system designed to optimize the delivery of its flagship HR offering, Workforce Optimization.

Quote

“Our strong second quarter results combined with continued outstanding execution and growth momentum positions Insperity for another record-setting year in 2017,” said Chairman and CEO Paul Sarvadi. “These positive trends demonstrate that our proven strategy is in place to capitalize on our unique market opportunity, providing a high level of confidence for 2018 and beyond.”

Guidance

Insperity now expects the average number of worksite employees paid per month to increase 11.0% to 11.5% in the third quarter; for the full-year 2017, the company expects an 11.0% to 12.0% increase.

Share price and market cap

Shares in Insperity rose 15.30% to $87.05 in late morning trading today. The company had a market cap of $1.83 billion, according to Yahoo.