NEW YORK (TheStreet) -- Shares of Paychex Inc. (PAYX) are higher by 1.06% to $42.86 in mid-morning trading on Wednesday, after the company reported a rise in fiscal 2015 first quarter net income to $171.3 million, or 47 cents per share, compared to $162.8 million, or 44 cents per share for the year ago period.
The human resources, payroll, and benefits outsourcing solutions company said total revenue for the most recent quarter grew by 9% to $656.6 million for the fiscal 2015 first quarter.
Analysts polled by Thomson Reuters expected Paychex to post earnings of 46 cents per share on revenue of $662 million.
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Separately, TheStreet Ratings team rates PAYCHEX INC as a Buy with a ratings score of A. TheStreet Ratings Team has this to say about their recommendation:
"We rate PAYCHEX INC (PAYX) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, growth in earnings per share, increase in net income, good cash flow from operations and largely solid financial position with reasonable debt levels by most measures. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook."