Paychex, Inc. provided earnings guidance for the year ending May 31, 2020. For the year, company is expecting management solutions revenue to grow approximately 4%; PEO and Insurance Services revenue is anticipated to grow in the range of 30% to 35%; Interest on funds held for clients is anticipated to grow in the range of 4% to 8%; total revenue is anticipated to grow in the range of 10% to 11%; Operating income, as a percent of total revenue, is anticipated to be approximately 36%, reflecting the expected impact of higher PEO direct insurance costs; and Net income and diluted earnings per share are expected to grow approximately 8%.