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Paychex Reports Fewer PEO Client Employees

December 20 2012

Paychex Inc. (NASD: PAYX) reported the number of client employees in its PEO division fell in its fiscal second quarter ended Nov. 30 when compared to the same period last year. However, the company reported second-quarter revenue in its human resources services division — which includes professional employer organization services as well as a host of other services — rose 11.7 percent on a year-over-year basis to $182.4 million.

The Rochester, N.Y.-based company cited increases in prices and growth in the number of clients and client employees overall, despite the decrease in client employees in PEO operations.

Paychex reported total second-quarter revenue rose 4.3 percent to $569.4 million from $545.7 million for the same period last year.

Paychex’s second-quarter net income rose 5.3 percent to $147.9 million.

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