As Jim Cramer prepares for Thursday's big non-farm payroll report from the Labor Department, he decided to take a closer look at what to expect from one of the top payroll processing companies in the U.S.
Paychex is the country's No. 2 payroll processor, specializing in small- and medium-sized businesses, and has a growing human resources management division. Cramer has always said that Paychex will give the best read on small-business hiring in the U.S.
While Paychex' stock has not had a significant move this year, the company reported on Wednesday morning and provided better than expected guidance for the full fiscal year.
But here's the real kicker to Paychex: If you expect the Federal Reserve to raise rates later this year, then Cramer thinks this could be the stock for you. The company collects interest on cash that it holds from its clients before it goes into your paycheck.