OverviewSuggest Edit

Paychex is a company providing human capital management solutions for payroll, benefits, human resources, and insurance services. It offers payroll processing services, which include calculation, preparation, and delivery of employee payroll checks, production of internal accounting records and management reports, preparation of federal, state and local payroll tax returns, as well as collection and remittance of clients' payroll obligations. The company also delivers payroll tax administration, employee payment, and regulatory compliance services, such as new-hire reporting and garnishment processing.
TypePublic
Founded1971
HQRochester, NY, US
Websitepaychex.com
Overall CultureC+

Latest Updates

Employees (est.) (May 2021)15,000(-3%)
Job Openings989
Revenue (FY, 2021)$4.1 B
Share Price (May 2022)$121.6(+2%)
Cybersecurity ratingAMore
Discover new suppliers and conduct deeper comparison analysis with Craft for EnterpriseLearn more
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Key People/Management at Paychex

Efrain Rivera

Efrain Rivera

Senior Vice President, Chief Financial Officer and Treasurer
B. Thomas Golisano

B. Thomas Golisano

Founder and Chairman of the Board
Mark Bottini

Mark Bottini

Senior Vice President, IT and Product Development
John Gibson

John Gibson

President and Chief Operating Officer
Karen McClendon

Karen McClendon

Chief Human Resource Officer
Michael Gioja

Michael Gioja

Senior Vice President, IT and Product Development
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Paychex Office Locations

Paychex has offices in Rochester, Albany, Albuquerque, Allentown and in 54 other locations
Rochester, NY, US (HQ)
911 Panorama Trail S
Albany, NY, US
94 New Karner Rd #101
Albuquerque, NM, US
4500 Alexander Blvd NE
Allentown, PA, US
1550 Pond Rd #302
Appleton, WI, US
4650 W Spencer St #2
Auburn, ME, US
126 Merrow Rd
Show all (61)

Paychex Financials and Metrics

Paychex Revenue

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View revenue for all periods
Paychex's revenue was reported to be $4.06 b in FY, 2021 which is a 0.4% increase from the previous period.
USD

Revenue (Q2, 2022)

1.1b

Gross profit (Q2, 2022)

762.8m

Gross profit margin (Q2, 2022), %

68.8%

Net income (Q2, 2022)

332.1m

EBIT (Q2, 2022)

440.3m

Market capitalization (17-May-2022)

43.9b

Closing stock price (17-May-2022)

121.6

Cash (30-Nov-2021)

636.2m

EV

44.1b
Paychex's current market capitalization is $43.9 b.
Annual
USDFY, 2019FY, 2020FY, 2021

Revenue

3.8b4.0b4.1b

Revenue growth, %

12%7%0%

Cost of goods sold

1.2b1.3b1.3b

Gross profit

2.6b2.8b2.8b
Quarterly
USDQ1, 2020Q2, 2020Q3, 2020Q1, 2021Q2, 2021Q3, 2021Q1, 2022Q2, 2022

Revenue

992.0m990.7m1.1b932.2m983.7m1.1b1.1b1.1b

Cost of goods sold

325.4m323.4m340.3m307.1m319.9m328.4m312.5m331.6m

Gross profit

(226.2m)667.3m802.4m625.1m663.8m783.3m770.4m762.8m

Gross profit Margin, %

(23%)67%70%67%67%70%71%69%
Annual
USDFY, 2019FY, 2020FY, 2021

Cash

673.6m905.2m995.2m

Accounts Receivable

420.5m384.1m578.3m

Prepaid Expenses

233.9m244.8m249.2m

Current Assets

567.7m5.5b6.2b
Quarterly
USDQ1, 2020Q2, 2020Q3, 2020Q1, 2021Q2, 2021Q3, 2021Q1, 2022Q2, 2022

Cash

586.4m600.6m780.0m835.7m693.5m787.0m1.1b636.2m

Accounts Receivable

425.1m464.9m436.3m414.8m519.0m694.8m574.1m817.0m

Prepaid Expenses

242.3m240.9m250.0m252.9m241.3m244.9m260.7m264.3m

Current Assets

5.6b5.6b6.4b5.3b5.6b6.6b6.3b6.6b
Annual
USDFY, 2019FY, 2020FY, 2021

Net Income

1.0b1.1b1.1b

Depreciation and Amortization

181.5m209.7m192.0m

Accounts Payable

77.5m(4.9m)169.0m

Cash From Operating Activities

1.3b1.4b1.3b
Quarterly
USDQ1, 2020Q2, 2020Q3, 2020Q1, 2021Q2, 2021Q3, 2021Q1, 2022Q2, 2022

Net Income

264.2m522.9m877.4m211.6m484.0m834.5m333.6m665.7m

Depreciation and Amortization

52.9m107.9m158.0m49.6m98.2m144.6m45.7m94.3m

Accounts Payable

(39.6m)(14.5m)(26.5m)(55.6m)(14.8m)128.0m(29.1m)95.0m

Cash From Operating Activities

294.8m564.6m1.1b215.0m430.7m870.6m385.6m555.4m
USDFY, 2019

EV/EBIT

22.6 x

EV/CFO

24.3 x

Revenue/Employee

251.1k

Debt/Equity

0.3 x

Debt/Assets

0.1 x

Financial Leverage

3.3 x

P/E Ratio

30.0
Show all financial metrics

Paychex Operating Metrics

Paychex's Enterprise Customers was reported to be 710 k in FY, 2021.
FY, 2019Q1, 2020Q2, 2020Q3, 2020FY, 2020Q1, 2021Q2, 2021Q3, 2021FY, 2021Q1, 2022Q2, 2022

Enterprise Customers

670 k680 k710 k

Average Client Funds Balances

$3.97 b$3.74 b$3.73 b$4.36 b$3.43 b$3.31 b$3.39 b$4.21 b$3.75 b$3.78 b$3.87 b

Enterprise Customers (Paychex HR Services)

37 k55 k62 k

Worksite Employees Served (Paychex HR Services)

1.09 m1.43 m1.68 m
Show all operating metrics

Paychex Acquisitions / Subsidiaries

Company NameDateDeal Size
FlockOctober 06, 2021
Oasis OutsourcingNovember 26, 2018$1.2 b
Lessor GroupMarch 01, 2018
HR OutsourcingAugust 21, 2017
Advance PartnersDecember 02, 2015
nettime SolutionsJune 18, 2014
myStaffingPro by HR ServicesJune 12, 2013
ExpenseWireDecember 01, 2012
Icon Time SystemsJanuary 09, 2012
ePlan ServicesMay 03, 2011
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Paychex Revenue Breakdown

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Paychex revenue breakdown by business segment: 74.5% from Management Solutions, 24.0% from PEO and Insurance Services and 1.5% from Other

Paychex Cybersecurity Score

Cybersecurity ratingPremium dataset

A

91/100

SecurityScorecard logo

Paychex Environment, Social & Governance (ESG) Ratings

CSRHub ESG ratingPremium dataset

40-49

out of 100

CSRHub logo

Paychex Online and Social Media Presence

Embed Graph

Paychex Company Culture

  • Overall Culture

    C+

    68/100

  • CEO Rating

    A-

    76/100

  • Compensation

    C

    63/100

  • Diversity

    C+

    67/100

Learn more on Comparably

Paychex News and Updates

Why Are Investors Bullish On Paychex Stock?

Returns of -3.5% or lower over a five-day period on 218 occasions out of 2516 (9%); Stock rose in the next five days in 124 of these 218 instances (57%).

Thinking about trading options or stock in Paychex, Apple, NVIDIA, Deere & Company, or Stryker Corp?

NEW YORK, March 30, 2022 /PRNewswire/ -- InvestorsObserver issues critical PriceWatch Alerts for PAYX, AAPL, NVDA, DE, and SYK. Click a link below then choose between in-depth options trade idea report or a stock score report. Options Report – Ideal trade ideas on up to seven different...

Paychex stock jumps toward 3-month high after profit and revenue beats, raised outlook

Shares of Paychex Inc. surged 1.9% toward a three-month high in premarket trading Wednesday, after the human resources outsourcing services company reported fiscal third-quarter profit and revenue that rose above expectations, and boosted its full-year growth outlook, as record new sales revenue wa…

Time To Book Profits In Paychex Stock?

Improving macroeconomic conditions and strong revenue guidance has been a boon for Paychex stock since the earnings announcement in December 2021. The stock observed a sell-off along with broader markets in January 2022 over concerns of rising inflation and geopolitical tensions between Russia...

Will Paychex Stock Observe A Further Correction?

The unemployment rate stands at 4% as per the recent household survey – highlighting strong jobs growth despite two coronavirus infectious waves in the past 12-month period.
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Paychex Blogs

Paychex Wins Silver Alexander Hamilton Award in Financial Risk Management

Paychex Wins Silver Alexander Hamilton Award in Financial Risk Management edeperrior Mon, 02/22/2021 - 08:23 https://www.treasuryandrisk.com/2021/02/17/taking-credit-for-a-new-approach-to-risk-management/ Emily DePerrior Wed, 02/17/2021 - 12:00 …

Who Spent Their Last Stimulus Checks?

Who Spent Their Last Stimulus Checks? edeperrior Sun, 02/14/2021 - 20:27 https://www.nytimes.com/interactive/2021/02/08/opinion/stimulus-checks-economy.html Emily DePerrior Mon, 02/08/2021 - 12:00 The New York Times

Small Business Payrolls Improved in January

Small Business Payrolls Improved in January edeperrior Fri, 02/05/2021 - 17:11 https://www.accountingtoday.com/news/small-business-payrolls-improved-in-january Emily DePerrior Tue, 02/02/2021 - 12:00 Accounting Today

Best Places to Work in Insurance

Best Places to Work in Insurance edeperrior Thu, 11/19/2020 - 11:59 https://www.businessinsurance.com/section/best-places-to-work-list Emily DePerrior Mon, 11/09/2020 - 12:00 Business Insurance

HRExaminer Executive Conversations w/ Mike Gioja, Paychex

HRExaminer Executive Conversations w/ Mike Gioja, Paychex edeperrior Thu, 11/19/2020 - 11:58 https://www.blogtalkradio.com/hrexaminer/2020/11/06/hrexaminer-executive-conversations-w-mike-gioja-paychex-nov-6-2020-8am Emily DePerrior Fri, 11/06/2020 -…

Small Business Hiring Moderates in October

Small Business Hiring Moderates in October edeperrior Thu, 11/19/2020 - 11:56 https://smallbiztrends.com/2020/11/small-business-hiring-moderates-october-2020-paychex.html Emily DePerrior Thu, 11/05/2020 - 12:00 Small Business Tren…
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Paychex Frequently Asked Questions

  • When was Paychex founded?

    Paychex was founded in 1971.

  • Who are Paychex key executives?

    Paychex's key executives are Efrain Rivera, B. Thomas Golisano and Mark Bottini.

  • How many employees does Paychex have?

    Paychex has 15,000 employees.

  • What is Paychex revenue?

    Latest Paychex annual revenue is $4.1 b.

  • What is Paychex revenue per employee?

    Latest Paychex revenue per employee is $270.5 k.

  • Who are Paychex competitors?

    Competitors of Paychex include Fiserv, SkypeTime and Civica.

  • Where is Paychex headquarters?

    Paychex headquarters is located at 911 Panorama Trail S, Rochester.

  • Where are Paychex offices?

    Paychex has offices in Rochester, Albany, Albuquerque, Allentown and in 54 other locations.

  • How many offices does Paychex have?

    Paychex has 61 offices.