Paychex Inc. PAYX, +0.76% shares soared 1.4% during premarket trading on Thursday after the company reported a fiscal fourth quarter profit that met expectations, while revenue exceeded, and gave a positive outlook for the full year. The net income for the period ending May 31, rose from $296.4 millions, or 82c per share, to $350.4million, or 97c per share. The adjusted earnings per share, 97 cents, matched FactSet’s consensus. The total revenue grew by 7.5%, to $1.230billion, exceeding the FactSet consensus estimate of $1.221billion. Management solutions revenue rose by 7%, to $905.2m, and Professional Employer Organizations revenue increased by 5%, to $299.5m. The company anticipates that adjusted EPS for fiscal 2024 will be 9%-10% higher than fiscal 2023, while FactSet’s current consensus of $4.60 indicates 7.5% growth. As of Wednesday’s closing, the company had a market capitalization of $39.91 billion. It expects revenues to increase 6% to 7.0%, while FactSet’s consensus of $5.31billion implies a 6.1% growth. Stocks have fallen 4.2% in the past year, while S&P 500 Spx, +0.14% is up 14.0%.