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.
Type
Public
HQ
Rochester, US
Founded
1971
Size (employees)
13,700 (est)
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

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

Revenue (Q3, 2018)

866.5 m

Gross profit (Q3, 2018)

595.8 m

Gross profit margin (Q3, 2018), %

68.8%

Net income (Q3, 2018)

260.4 m

EBIT (Q3, 2018)

292.5 m

Market capitalization (16-Aug-2018)

25.8 b

Closing stock price (16-Aug-2018)

71.9
Paychex's current market capitalization is $25.8 b.
Annual
USDFY, 2014FY, 2015FY, 2016FY, 2017

Revenue

2.5 b2.7 b3 b3.2 b

Revenue growth, %

9%8%7%

Cost of goods sold

732.5 m808 m857.1 m919.6 m

Gross profit

1.8 b1.9 b2.1 b2.2 b
Annual
USDFY, 2014FY, 2015FY, 2016FY, 2017FY, 2018

Cash

152.5 m170 m131.5 m184.6 m

Accounts Receivable

36.3 m37.9 m36.1 m507.5 m

Prepaid Expenses

46.7 m50.8 m58.8 m58.3 m

Current Assets

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

Cash

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

Accounts Receivable

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

Prepaid Expenses

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

Current Assets

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

Net Income

627.5 m674.9 m756.8 m817.3 m

Depreciation and Amortization

105 m106.6 m115.1 m126.9 m

Accounts Payable

45.1 m51.1 m63.3 m39.1 m

Cash From Operating Activities

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

Net Income

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

Depreciation and Amortization

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

Accounts Payable

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

Cash From Operating Activities

263.1 m404.7 m692.8 m278.3 m419.9 m791.2 m294.7 m413.4 m769.3 m519.4 m988.9 m
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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
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Paychex Acquisitions / Subsidiaries

Acquired CompanyDateDeal Size
HR Outsourcing August 21, 2017
Advance Partners December 02, 2015
nettime Solutions June 18, 2014
myStaffingPro by HR Services June 12, 2013
ExpenseWire December 01, 2012
Icon Time Systems January 09, 2012
ePlan Services May 03, 2011
SurePayroll December 09, 2010
Paychex Benefit Technologies September 12, 2007
InterPay March 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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Paychex Online and Social Media Presence

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Paychex News and Updates

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...

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 ...

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...

New Survey: Entrepreneurs Optimistic About Business Outlook, Ability to Find New Customers

ROCHESTER, N.Y., July 25, 2018 /PRNewswire/ -- Data from the first Paychex Business Sentiment Report shows business owners have a generally positive business outlook, feel good about their ability to find new customers, and are relatively optimistic about the state of the U.S. economy....
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Paychex Company Life and Culture

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