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.
Company Growth (employees)
Type
Public
HQ
Rochester, US
Founded
1971
Size (employees)
13,700 (est)
Paychex was founded in 1971 and is headquartered in Rochester, US

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
Mark Bottini

Mark Bottini

Senior Vice President, Sales
John Gibson

John Gibson

Senior Vice President, Service
Frank Fiorille

Frank Fiorille

Vice President, Risk, Compliance and Data Analytics
Kevin Hill

Kevin Hill

Vice President, Insurance and Human Resource Services
Theodore Jordan

Theodore Jordan

Vice President, Operations
Stephanie Schaeffer

Stephanie Schaeffer

Vice President, Chief Legal Officer and Secretary
Terrence Sukalski

Terrence Sukalski

Vice President, Human Resource Services Sales
Jennifer Vossler

Jennifer Vossler

Vice President and Controller
Lisa Williams-Garcia

Lisa Williams-Garcia

Vice President, Core Payroll Sales, Western U.S.
Bryan Hodge

Bryan Hodge

Vice President of International Sales and Operations
Efrain Rivera

Efrain Rivera

Senior Vice President, Chief Financial Officer, and Treasurer
Michael Jeffrey

Michael Jeffrey

Vice President, Core Payroll Sales, Eastern U.S.
Mick Whittemore

Mick Whittemore

Vice President, IT, Enterprise Operations
Tom Hammond

Tom Hammond

Vice President, Corporate Strategy and Product Management
Robert Wray

Robert Wray

Vice President, Major Market Sales

Paychex Office Locations

Paychex has offices in Rochester, Lake Mary, Glenview, Newark and in 127 other locations
Birmingham, US
22 Inverness Center Pl
Harrisburg, US
200 2405 Park Dr
Omaha, US
100 2637 S 158th Plaza
Quincy, US
100 400 Crown Colony Dr
Rochester, US
150 Sawgrass Dr
South Bend, US
210 300 S St Louis Blvd
Show all (152)

Paychex Financials and Metrics

Paychex Financials

Paychex's revenue was reported to be $3.2 b in FY, 2017
USD

Net income (Q2, 2018)

217 m

Market capitalization (22-Dec-2017)

24.7 b
Paychex's current market capitalization is $24.7 b.
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
USDQ1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018

Revenue

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

Cost of goods sold

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

Gross profit

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

Gross profit Margin, %

71%71%70%72%72%70%71%71%70%72%
USDFY, 2014FY, 2015FY, 2016FY, 2017

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
USDQ1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q2, 2018

Cash

462.6 m140.4 m265.3 m455.9 m412.3 m253.1 m130 m165 m189.9 m

Accounts Receivable

168.9 m205.6 m148.4 m206.6 m241.1 m353.4 m485.6 m528.9 m429.9 m

Prepaid Expenses

47.4 m48.8 m54 m63.4 m62.7 m64.4 m62.7 m65.1 m68 m

Current Assets

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

    Net Income

    627.5 m674.9 m756.8 m817.3 m

    Depreciation and Amortization

    105 m106.6 m115.1 m126.9 m

    Accounts Receivable

    (18 m)(28 m)(38 m)(103.7 m)

    Accounts Payable

    45.1 m51.1 m63.3 m39.1 m
    USDQ1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017

    Net Income

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

    Depreciation and Amortization

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

    Accounts Receivable

    (19.1 m)(56.3 m)500 k(30.1 m)(65.1 m)18.6 m(78.1 m)(123 m)(24.6 m)

    Accounts Payable

    40.4 m600 k28.2 m6.8 m(4.2 m)28.4 m60.9 m5.8 m37.5 m
    Show all financial metrics

    Paychex Operating Metrics

    Paychex's Enterprise Customers was reported to be 12 m in FY, 2017, which is a 9% increase from the previous period
    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
    SurePayroll Inc.
    Paychex Deutschland GmbH
    Paychex Insurance Agency, Inc.
    Paychex Insurance Concepts, Inc.
    Paychex Management LLC
    Paychex North America Inc.
    Paychex of New York LLC
    Paychex Real Estate, LLC
    Paychex Recordkeeping Services, Inc.
    Paychex Securities Corporation
    Paychex Time & Attendance Inc.
    PXC Inc.
    Rapid Payroll, Inc.
    HR Services
    Advantage Payroll Services Inc.
    Expense Wire LLC
    Fast 401k, Inc.
    Paychex Investment LLC
    HR Services Inc.
    NETTIME SOLUTIONS, L.L.C.
    Paychex Advance LLC
    Paychex Benefit Technologies Inc.
    Paychex, Brazil LLC
    Paychex Business Solutions, LLC
    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
    Advantage Payroll ServicesSeptember 19, 2002$314 m
    Olsen Computer SystemsNovember 21, 1996
    The Payroll CompanySeptember 28, 1995

    Paychex Market Value History

    Paychex Median Salaries

    Source: 47 public H-1B filings from Paychex

    Paychex's Web-traffic and Trends

    Paychex Online and Social Media Presence

    Paychex News and Updates

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    Wiseguyreports.Com Publish New Market Research Report On -“Tax Management Software Market - Global Industry Analysis, Size, Share, Trends, Growth and Forecast 2017 - 2021” Posted via Industry Today. Follow us on Twitter @IndustryToday

    Acquisition of national professional employer organization advances Paychex PEO growth

    Paychex, Inc., a leading provider of integrated human capital management solutions for small- to medium-sized businesses, today announced the acquisition of HR Outsourcing Holdings, Inc. (HROI), and all of its operating subsidiaries, which have been conducting business since 2001. HROI is a national…

    Paychex Company Life and Culture

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