A double-digit bump in its Human Resources Services, coupled with slight upticks in its core payroll unit and checks per client, helped payroll and benefits outsourcing provider Paychex post an 8 percent jump in year-end profits, to $515.3 million, versus the previous year.
Overall, year-end revenues at the Rochester, N.Y.-based company rose 4 percent, to $2.1 billion, for the year ended May 31.
Human Resources Services rose 10 percent over the year, to $598 million, while payroll rose 2 percent to $1.4 billion. Checks per client climbed 2.1 percent.
During the fiscal year, Paychex acquired a pair of software as a service companies: online payroll provider SurePayroll and ePlan, a 401(k) administration concern.
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