Paychex (PAYX) reported fiscal Q1 adjusted earnings Wednesday of $1.34 per diluted share, up from $1.22 a year earlier.

Analysts polled by FactSet expected $1.32.

Revenue for the fiscal quarter ended Aug. 31 was $1.63 billion, up from $1.54 billion a year earlier.

Analysts polled by FactSet expected $1.63 billion.

For fiscal 2027, the company maintains its revenue growth outlook of 5% to 6% and adjusted EPS growth outlook of 7% to 9%.

Shares of the company were down 7.3% in premarket activity.