Paychex, Inc. PAYX reported better-than-expected first-quarter fiscal 2022 results.Adjusted earnings (excluding 2 cents from non-recurring items) of $1.03 per share beat the Zacks Consensus Estimate by 6.2% and increased 15.7% on a year-over-year basis. Total revenues of $1.2 billion beat the consensus mark by 1.8% and increased 11.4% year over year.Over the past year, shares of Paychex have gained 5.1% compared with 3.8% growth of the industry it belongs to.Image Source: Zacks Investment ResearchRevenues in Detail Revenues from Management Solutions increased 12% year over year to $905.5 million. The segment benefited from growth in the number of client employees served for human capital management (HCM) and additional worksite employees for HR Solutions; improved revenue per client on price realization and higher product penetration, including strong demand for HR Solutions, retirement, and time and attendance solutions; plus the expansion of HCM ancillary services.Professional employer organization (“PEO”) and Insurance Solutions revenues were $282.8 million, up 8% from the year-ago quarter’s level. The uptick was owing to growth in the number of average worksite employees and an increase in PEO health insurance revenues.Interest on funds held for clients increased 24% year over year to $17.9 million.Operating PerformanceOperating income increased 12% year over year to $495.6 million. EBITDA of $539.7 million increased 8% year over year.Paychex, Inc. Price, Consensus and EPS Surprise Paychex, Inc. price-consensus-eps-surprise-chart | Paychex, Inc. QuoteBalance Sheet & Cash FlowPaychex exited first-quarter fiscal 2022 with cash and cash equivalents of $1.18 billion compared with $370 million at the end of the prior quarter. Long-term debt was $797.8 million compared with $797.7 million in the prior quarter.Cash provided by operating activities was $364.3 million in the reported quarter. During the reported quarter, PAYX paid out $284.6 million as dividends.Fiscal 2023 ViewPaychex lowered its adjusted earnings per share view. Adjusted EPS is now expected to register 11-12% growth compared with the prior expectation of 9-10% growth.PAYX continues to expect total revenues to register 7-8% growth.Management Solutions revenues are expected to grow 5-7%. PEO and Insurance Solutions revenues are expected to grow 8-10%.The adjusted operating margin is expected to grow 40-41%. Adjusted EBITDA margin is expected to be nearly 44%.Currently, Paychex carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Performances of Other Business Services CompaniesEquifax EFX reported mixed second-quarter 2022 results, wherein earnings beat estimates but revenues missed the same.EFX’s adjusted earnings of $2.09 per share beat the Zacks Consensus Estimate by 3% and improved 5.6% on a year-over-year basis. Revenues of $1.32 billion missed the consensus estimate marginally but improved 6.6% year over year.IQVIA Holdings IQV reported solid second-quarter 2022 results, wherein earnings and revenues surpassed the Zacks Consensus Estimate.IQV’s adjusted earnings per share of $2.44 beat the consensus mark by 2.1% and improved 15% on a year-over-year basis. Total revenues of $3.54 billion outpaced the consensus estimate by 1.2% and increased 3% year over year.Omnicom Group OMC reported impressive second-quarter 2022 results, wherein both earnings and revenues surpassed the Zacks Consensus Estimate.OMC’s earnings of $1.68 per share beat the consensus mark by 7.7% and increased 15.1% year over year, driven by a strong margin performance. Total revenues of $3.6 billion surpassed the consensus estimate by 4.4% but declined slightly year over year. Zacks Names "Single Best Pick to Double" From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all. It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time. This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Paychex, Inc. (PAYX): Free Stock Analysis Report Omnicom Group Inc. (OMC): Free Stock Analysis Report Equifax, Inc. (EFX): Free Stock Analysis Report IQVIA Holdings Inc. (IQV): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research