Paychex Inc. (NASD: PAYX) reported revenue rose 6% in its fiscal third quarter ended Feb. 28. The Rochester, NY-based firm, which provides payroll processing, professional employer organization services and other services, reported net income rose 12% in the fiscal third quarter.

The company reports PEO revenue in its “human resource services” division rose 12% in the fiscal third quarter — primarily driven by increases in its client base across all major human capital management services.

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“During the third quarter, we continued to experience solid growth across our human capital management product lines,” said President and CEO Martin Mucci. “One particular area was our time and attendance services, which reflected double-digit growth. During the third quarter, we celebrated the one-year anniversary of our acquisition of Advance Partners. We are pleased with the contribution this acquisition has made to Paychex and with the future opportunities in store for this business.”

Guidance

Payroll service revenue is anticipated to increase in the range of 3% to 4% for the fiscal year ending May 31. Human resource services revenue is expected to increase in the range of 12% to 14%. This is unchanged from guidance issued in the company’s second-quarter report.

Share price and market cap

Shares in Paychex fell 2.10% in late morning trading to $59.29. The company had a market cap of $21.27 billion, according to Yahoo.