NEW YORK (TheStreet) -- Shares of Paychex Inc (PAYX - Get Report) were up 0.76% to $47.67 in mid-morning trading Thursday, after TheStreet's Jim Cramer, Portfolio Manager of the Action Alerts PLUS Charitable Trust Portfolio interviewed Paychex president and CEO Marty Mucci in his "Executive Decision" segment on CNBC's Mad Money last night.
"If you expect the Federal Reserve to raise rates later this year like I do, then Paychex could be the stock for you," Cramer said.
Mucci said Paychex revenue is up 9% so far in 2015, with non-payroll services hitting $1 billion for the first time.
He said the company is seeing growth from its current customers who are using more of Paychex services, as well as its new customers.
Cramer added that the country's number two payroll processor, specializing in small to medium sized business can also give investors a look into the state of hiring in our economy.
Mucci said the company is seeing more part-time employment, both from Obamacare and the uptick in the shared economy.
He is beginning to see a rebound in some of the most hardest-hit areas of the country, like Detroit.
Yesterday, Paychex reported its fourth quarter earnings results.
The company earned 44 cents per share on revenue of $692.2 million.
Wall Street was expecting the company to earn 44 cents per share on revenue of $690.35 million, according to analysts polled by Thomson Reuters.
In the same quarter of last year, the company earned 40 cents per share on sales of $639 million.
For the full year the company expects earnings to rise between 8% to 9%, compared to analysts' consensus estimate of an 8.4% growth.
Rochester, NY-based Paychex is a provider of integrated payroll, human resource, insurance, and benefits outsourcing solutions for small to medium sized businesses.
The company focuses on providing payroll and human resource services, as well as improving client service, and supplementing its growth through strategic acquisitions.
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, solid stock price performance, increase in net income, growth in earnings per share and largely solid financial position with reasonable debt levels by most measures. We feel its strengths outweigh the fact that the company shows weak operating cash flow."
You can view the full analysis from the report here: PAYX Ratings Report