Paychex
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Paychex

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    • Human Resources & RecruitingTechnologyaccountingenterprise softwarehrtechhuman capital
    Paychex provides payroll, human resource and benefits outsourcing solutions for small and medium-sized businesses. The Company 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. Paychex also provides payroll tax administration services, employee payment services and regulatory compliance services, such as new-hire reporting and garnishment processing.
    Revenue(FY, 2017)
    $3.2 B
    Market capitalization(2018-10-18)
    $24.4 B
    Enterprise Customers(FY, 2017)
    12 M
    TypePublic
    HQRochester, US
    Founded1971
    Size (employees)13,700 (est)
    Websitepaychex.com
    Paychex was founded in 1971 and is headquartered in Rochester, US
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    Key People/Management at Paychex

    Martin Mucci

    Martin Mucci

    President and CEO
    Mike Gioja

    Mike Gioja

    Senior Vice President, Information Technology and Product Development
    Laurie Maffett

    Laurie Maffett

    Vice President, Enterprise and Multi-Product Services
    Stephanie Schaeffer

    Stephanie Schaeffer

    Vice President and Chief Legal Officer
    Mark Bottini

    Mark Bottini

    Senior Vice President, Sales
    John Gibson

    John Gibson

    Senior Vice President, Service
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    Paychex Office Locations

    Paychex has offices in Worthington, Bend, Tallahassee, Seattle and in 127 other locations
    Rochester, US (HQ)
    911 Panorama Trail S.
    Albany, US
    101 94 New Karner Rd
    Albuquerque, US
    1551 Mercantile Ave NE
    Allentown, US
    302 1550 Pond Rd
    Appleton, US
    2 4650 W Spencer St
    Atlanta, US
    800 2970 Clairmont Rd
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    Paychex Financials and Metrics

    Paychex Revenue

    Embed Graph
    Paychex's revenue was reported to be $3.15 b in FY, 2017 which is a 6.8% increase from the previous period.
    USD

    Market capitalization (18-Oct-2018)

    		24.4b

    Closing stock price (18-Oct-2018)

    		68.0
    Paychex's current market capitalization is $24.4 b.
    Annual
    USDFY, 2014FY, 2015FY, 2016FY, 2017

    Revenue

    		2.5b2.7b3.0b3.2b

    Revenue growth, %

    		9%8%7%

    Cost of goods sold

    		732.5m808.0m857.1m919.6m

    Gross profit

    		1.8b1.9b2.1b2.2b
    Quarterly
    USDQ1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018

    Revenue

    		666.8m676.3m704.3m723.0m722.4m752.6m785.5m771.4m795.8m816.8m826.5m866.5m

    Cost of goods sold

    		194.3m199.1m211.0m205.7m205.2m225.9m225.1m226.3m236.8m232.1m248.7m270.7m

    Gross profit

    		472.5m477.2m493.3m517.3m517.2m526.7m560.4m545.1m559.0m584.7m577.8m595.8m

    Gross profit Margin, %

    		71%71%70%72%72%70%71%71%70%72%70%69%
    show all
    Annual
    USDFY, 2014FY, 2015FY, 2016FY, 2017FY, 2018

    Cash

    		152.5m170.0m131.5m184.6m

    Accounts Receivable

    		36.3m37.9m36.1m507.5m

    Prepaid Expenses

    		46.7m50.8m58.8m58.3m

    Current Assets

    		5.0b5.1b4.9b5.3b
    Quarterly
    USDQ1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018Q1, 2019

    Cash

    		462.6m140.4m265.3m455.9m412.3m253.1m130.0m165.0m189.9m234.4m257.2m323.9m

    Accounts Receivable

    		168.9m205.6m148.4m206.6m241.1m353.4m485.6m528.9m429.9m538.6m595.2m550.5m

    Prepaid Expenses

    		47.4m48.8m54.0m63.4m62.7m64.4m62.7m65.1m68.0m81.6m73.4m77.9m

    Current Assets

    		487.2m4.9b6.0b4.6b4.6b5.5b4.5b4.2b5.8b6.0b6.0b5.0b
    show all
    Annual
    USDFY, 2014FY, 2015FY, 2016FY, 2017FY, 2018

    Net Income

    		627.5m674.9m756.8m817.3m

    Depreciation and Amortization

    		105.0m106.6m115.1m126.9m

    Accounts Payable

    		45.1m51.1m63.3m39.1m

    Cash From Operating Activities

    		880.9m895.2m1.0b960.4m
    Quarterly
    USDQ1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q2, 2018Q3, 2018Q1, 2019

    Net Income

    		171.3m344.3m513.7m209.1m398.3m578.7m217.4m419.5m622.0m444.8m705.2m

    Depreciation and Amortization

    		26.5m52.5m79.1m27.0m54.7m85.1m29.7m59.7m90.7m65.7m102.3m

    Accounts Payable

    		40.4m600.0k28.2m6.8m(4.2m)28.4m60.9m5.8m37.5m(34.3m)80.9m

    Cash From Operating Activities

    		263.1m404.7m692.8m278.3m419.9m791.2m294.7m413.4m769.3m519.4m988.9m
    show all
    USDY, 2018

    Financial Leverage

    		3 x
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    Paychex Operating Metrics

    Paychex's Enterprise Customers was reported to be 12 m in FY, 2017.
    FY, 2014FY, 2015FY, 2016May, 2017FY, 2017

    Paying Customers

    		590 k605 k605 k605 k605 k

    Enterprise Customers

    		12 m10 m11 m12 m

    Facilities

    		3.03 m3.04 m2.94 m2.92 m

    Locations

    		100
    Show all operating metrics

    Paychex Acquisitions / Subsidiaries

    Acquired CompanyDateDeal Size
    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
    SurePayrollDecember 09, 2010
    Paychex Benefit TechnologiesSeptember 12, 2007
    InterPayMarch 31, 2003$182 m
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    Paychex Revenue Breakdown

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    Paychex revenue breakdown by business segment: 41.9% from HRS, 56.5% from Payroll Service and 1.6% from Other

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    Competitors

    SAP SuccessFactors
    Human Resources & Recruiting - Subsidiary
    Payworks Payroll Services
    Human Resources & Recruiting - Private
    Rise
    Healthcare - Private
    iSolved HCM
    Technology - Private
    Intuit QuickBooks
    Financial Services - Subsidiary
    FIS
    Financial Services - Public
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    Paychex Online and Social Media Presence

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    Paychex News and Updates

    September 26, 2018

    NAPEO Membership Elects Frank Fiorille of Paychex to NAPEO Board of Directors

    ALEXANDRIA, Va., Sept. 26, 2018 /PRNewswire/ -- The National Association of Professional Employer Organizations (NAPEO) announced today that NAPEO's member companies have elected Frank Fiorille, Vice President of Risk, Compliance and Data Analytics for Paychex Business Solutions, to the...
    September 25, 2018

    Square stock extends gains after company rolls out new payroll app; ADP, Paychex stocks fall

    Square Inc. rolled out a new, dedicated payroll app on Tuesday, which will allow employers to approve time cards and pay employees. Over the past few quarters, merchant services such as payroll have helped contribute to the company's strong growth. Square has been successful in convincing merchants…
    September 06, 2018

    Paychex Launches Learning Management System at HR Technology Conference & Expo

    ROCHESTER, N.Y., Sept. 6, 2018 /PRNewswire/ -- According to the 2018 Paychex Pulse of HR Survey, more than half (59%) of HR leaders say that it's increasingly difficult to find and hire quality candidates because of the tightening labor market. Facing record-low unemployment and millions...
    August 06, 2018

    Paychex Again Makes the Top 5 on Selling Power's "50 Best Companies to Sell For" List

    ROCHESTER, N.Y., Aug. 6, 2018 /PRNewswire/ -- For the sixth consecutive year, Paychex, Inc., a leading provider of integrated human capital management solutions for payroll, human resources, retirement, and insurance services, has been recognized by Selling Power magazine on its 50 Best...
    August 01, 2018

    Paychex Again Recognized as Industry Leader in 401(k) Recordkeeping Services

    ROCHESTER, N.Y., Aug. 1, 2018 /PRNewswire/ -- For the eighth consecutive year, Paychex, Inc., one of the nation's leading providers in 401(k) recordkeeping services, has earned the distinction of being the retirement industry's leader in total number of defined contribution plans, serving ...
    July 31, 2018

    Paychex | IHS Markit Small Business Employment Watch: Jobs and Wage Growth Slow in July

    ROCHESTER, N.Y., July 31, 2018 /PRNewswire/ -- The Paychex | IHS Markit Small Business Employment Watch for July shows slight declines in the rates of small business jobs and wage growth. At 99.34 in July, the Small Business Jobs Index is down 0.63 percent year-over-year. Hourly earnings...
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    Paychex Blogs

    October 19, 2018

    Special Report: Payroll and the New Back Office

    Special Report: Payroll and the New Back Office mdiluglio Fri, 10/19/2018 - 14:27 https://cdn.coverstand.com/37089/531952/994b5994b9ede2cfb3aa534bae467ca096784082.pdf Michael DiLuglio Thu, 10/18/2018 - 12:00 Accounting Today
    October 19, 2018

    The Future of Blockchain in the Payroll Industry

    The Future of Blockchain in the Payroll Industry mdiluglio Fri, 10/19/2018 - 14:24 https://hrdailyadvisor.blr.com/2018/10/15/the-future-of-blockchain-in-the-payroll-industry/ Michael DiLuglio Mon, 10/15/2018 - 12:00 HR Daily Advis…
    October 12, 2018

    Paychex Sees Modest Gains in Small Business Job and Wage Growth in September

    Paychex Sees Modest Gains in Small Business Job and Wage Growth in September mdiluglio Fri, 10/12/2018 - 16:19 https://www.accountingtoday.com/news/paychex-sees-modest-gains-in-small-business-job-and-wage-growth-in-september Michael DiLuglio Wed, 10…
    October 12, 2018

    Why All-In-One HCM Solutions are Not the Great Panacea

    Why All-In-One HCM Solutions are Not the Great Panacea mdiluglio Fri, 10/12/2018 - 16:19 https://www.employeebenefitadviser.com/opinion/why-all-in-one-hcm-solutions-are-not-the-great-panacea Michael DiLuglio Tue, 10/02/2018 - 12:00 …
    October 12, 2018

    Business Owners Cite Direct Deposit as their Next Payroll Upgrade

    Business Owners Cite Direct Deposit as their Next Payroll Upgrade mdiluglio Fri, 10/12/2018 - 16:18 https://www.cpa.com/blog/business-owners-cite-direct-deposit-as-their-next-payroll-upgrade Michael DiLuglio Thu, 09/13/2018 - 12:00 …
    October 12, 2018

    Paychex CEO Discusses Q1 Earnings

    Paychex CEO Discusses Q1 Earnings mdiluglio Fri, 10/12/2018 - 16:12 https://www.cnbc.com/video/2018/10/02/paychex-ceo-some-businesses-are-waiving-drug-tests-to-draw-workers.html Michael DiLuglio Tue, 10/02/2018 - 12:00 CNBC
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    Paychex Company Life and Culture

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