NEW YORK (TheStreet) -- Global payroll outsourcing specialist Paychex (PAYX) will report fourth-quarter fiscal 2015 earnings results Wednesday before the opening bell. The company's products and services, which have helped Paychex beat the average analyst earnings estimate in seven of the last eight quarters, makes the company's stock one to watch in the quarters ahead.

For the quarter that ended May, Paychex is projected to earn 44 cents a share on revenue of $690 million, translating to year-over-year increase of 10% and 8%, respectively. For the full year, earnings are projected to grow 8% year over year to $1.85 a share, while revenue of $2.74 billion calls for growth of almost 9% year over year.

Headquartered in Rochester, N.Y., Paychex provides payroll processing, human resources, insurance and benefits outsourcing services to thousands of small to medium-sized businesses. The company offers tax and retirement services as well as regulatory compliance services, among others.

But it is Paychex's bread-and-butter payment services that has caught the attention of investors and traders. Paychex stock, which closed at $46.79 Monday, is up 1.4% so far in 2015 and has gained more than 13% in the past 12 months, besting both the Dow Jones Industrial Average (DJI) and the S&P 500 (SPX) during that span.

With the market for both payroll and human resources on the rise, according to Research and Markets, it would seem the market believes Paychex is one of the ways to play the projected growth in both payment processing and human resources services.

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