NEW YORK ( TheStreet) -- Paychex (Nasdaq: PAYX) hit a new 52-week high Tuesday as it traded at $33.76 compared with its previous 52-Week high of $33.69. Paychex is changing hands at $33.59 with 41,127 shares traded as of 9:31 a.m. ET. Average volume has been 2.5 million shares over the past 30 days.

Paychex has a market cap of $12 billion and is part of the services sector and diversified services industry. Shares are up 8.8% year to date as of the close of trading on Monday.

Paychex Inc., together with its subsidiaries, provides payroll, human resource, and benefits outsourcing solutions for small-to medium-sized businesses in the United States and Germany. The company has a P/E ratio of 24.3, equal to the average diversified services industry P/E ratio and above the S&P 500 P/E ratio of 21.8.

TheStreet Ratings rates Paychex as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, expanding profit margins, good cash flow from operations, largely solid financial position with reasonable debt levels by most measures and growth in earnings per share. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity. You can view the full Paychex Ratings Report.

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