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Paychex (PAYX) Integrates With Fiserv's Clover Platform

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Paychex, Inc. (PAYX - Free Report) announced yesterday that it is offering human resource management solutions via a new integration with Fiserv’s (FISV - Free Report) Clover platform.

The integration enables business owners using Clover integrated with Paychex Flex to simplify payroll and time & attendance management through the Clover App Market. Tasks such as payroll, staffing, time tracking and scheduling can now be done in a more efficient and time- and cost-effective manner.

"This relationship with Fiserv and Clover significantly streamlines employer operations, delivering a superior client experience and giving employees access to extensive self-service benefits,” said Tom Hammond, vice president, Corporate Strategy and Product Management at Paychex.

The sophisticated functionality of the app enhances user experience and cross-selling opportunities for both companies.

The move demonstrates the duo’s bid to allow their client organizations to innovate and increase efficiencies and help them sail through the pandemic-driven testing times.

Notably, Paychex’s shares have gained 11.5% over the past year, outperforming the 5.7% rally of the industry it belongs to. Fiserv’s shares have declined 5.2% over the same time fame against its industry’s 4.7% rally.

Zacks Rank & Key Picks

Both Paychexand Fiservcarry a Zacks Rank #3 (Hold).

Some better-ranked stocks in the broader Zacks Business Services sector are Gartner, Inc. (IT - Free Report) and Insperity, Inc. (NSP - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.

Long-term earnings (three to five years) growth rate for Gartner and Insperity is estimated at 13.5% and 15%, respectively.

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