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.

Employee Rating

3.9More
TypePublic
HQRochester, US
Founded1971
Size (employees)14,500 (est)+6%
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 Rochester, SF, Brookfield, Appleton and in 127 other locations
Rochester, (HQ)
911 Panorama Trail S.
Albany,
101 94 New Karner Rd
Albuquerque,
1551 Mercantile Ave NE
Allentown,
302 1550 Pond Rd
Appleton,
2 4650 W Spencer St
Atlanta,
800 2970 Clairmont Rd
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Paychex Financials and Metrics

Paychex Revenue

Paychex's revenue was reported to be $3.38 b in FY, 2018 which is a 7.3% increase from the previous period.
USD

Revenue (Q1, 2019)

845.7m

Net income (Q1, 2019)

243.6m

EBIT (Q1, 2019)

320.3m

Market capitalization (12-Dec-2018)

24.5b

Closing stock price (12-Dec-2018)

68.1

Cash (31-Aug-2018)

440.1m

EV

24.1b
Paychex's current market capitalization is $24.5 b.
Annual
USDFY, 2014FY, 2016FY, 2017FY, 2018

Revenue

2.5b3.0b3.2b3.4b

Revenue growth, %

8%7%7%

Cost of goods sold

732.5m857.1m919.6m

Gross profit

1.8b2.1b2.2b
Quarterly
USDQ2, 2015Q3, 2015Q1, 2016Q3, 2017Q2, 2018Q1, 2019

Revenue

676.3m704.3m723.0m795.8m845.7m

Cost of goods sold

199.1m211.0m236.8m

Gross profit

477.2m493.3m559.0m

Gross profit Margin, %

71%70%70%
Annual
USDFY, 2014FY, 2015FY, 2016FY, 2017FY, 2018

Cash

170.0m131.5m358.2m

Accounts Receivable

36.1m531.4m

Prepaid Expenses

46.7m50.8m58.8m58.3m75.8m

Current Assets

4.9b5.3b1.1b
Quarterly
USDQ2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018Q1, 2019

Cash

213.0m140.4m265.3m412.3m130.0m165.0m323.9m440.1m

Accounts Receivable

205.6m148.4m241.1m32.0m32.0m550.5m535.2m

Prepaid Expenses

47.4m48.8m54.0m63.4m62.7m64.4m62.7m65.1m68.0m81.6m73.4m77.9m225.1m

Current Assets

4.9b4.9b6.0b4.6b4.5b6.0b5.0b5.1b
Annual
USDFY, 2014FY, 2015FY, 2016FY, 2017FY, 2018

Net Income

627.5m756.8m817.3m933.7m

Depreciation and Amortization

105.0m106.6m115.1m126.9m138.0m

Accounts Payable

45.1m63.3m39.1m42.6m

Cash From Operating Activities

880.9m1.0b960.4m1.3b
Quarterly
USDQ1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018Q1, 2019

Net Income

171.3m344.3m513.7m209.1m398.3m217.4m622.0m444.8m243.6m

Depreciation and Amortization

26.5m52.5m79.1m27.0m54.7m85.1m29.7m59.7m90.7m32.0m65.7m102.3m35.9m

Accounts Payable

40.4m600.0k28.2m6.8m(4.2m)60.9m(34.3m)(15.2m)

Cash From Operating Activities

263.1m404.7m692.8m278.3m419.9m294.7m519.4m273.7m
USDY, 2018

EV/EBIT

75.2 x

EV/CFO

88 x

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, 2017FY, 2018

Paying Customers

590 k605 k605 k605 k605 k650 k

Enterprise Customers

12 m10 m11 m12 m

Facilities

3.03 m3.04 m2.94 m2.92 m3.19 m

Locations

100
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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: 53.5% from Payroll Service, 44.6% from HRS and 1.9% from Other

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Paychex Online and Social Media Presence

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Paychex News and Updates

Payroll Management Software Market 2018 will touch a new level in upcoming year| Paychex Payroll, Intuit Payroll, Paylocity, SurePayroll, SmartHR, Ultimate Software, Justworks

Payroll Management Software Market Report aims to define, describe, and forecast on the basis of Market size, share, types, overview, top key vendors. This research report provides analysis and information according to market segments such as geography, technology and application. Posted via Industr…

Paychex to buy Oasis Outsourcing for $1.2 billion

Payroll company Paychex Inc. on Monday announced that it plans to purchase Oasis Outsourcing Acquisition Corp. for $1.2 billion. Oasis is the largest privately held professional employer organization (PEO) in the U.S., according to Paychex's release, and provides human-resources-outsourcing service…

Business Insurance Magazine Recognizes Paychex as a Best Place to Work in Insurance for Fourth Year in a Row

ROCHESTER, N.Y. , Nov. 8, 2018 /PRNewswire/ -- Paychex Insurance Agency, Inc., a wholly owned subsidiary of Paychex, Inc., has been named to Business Insurance magazine's list of the Best Places to Work in Insurance for the fourth consecutive year. The agency ranked 12th on the list of...

HR Software 2018 Global Market Key Players – Automatic Data Processing, Ceridian HCM, Corehr , Employwise, International Business Machines, Oracle, Paychex, Paycom Software.......

HR Software – Global Market Growth, Opportunities, Analysis of Top Key Players and Forecast to 2025 Posted via Industry Today. Follow us on Twitter @IndustryToday

New Paychex Data Reveals Economic Growth, Taxes, and Healthcare Among Top Voting Issues for Business Owners in 2018 Midterm Election

ROCHESTER, N.Y., Oct. 24, 2018 /PRNewswire/ -- There are countless factors influencing American voters as they head to the polls this election season. Paychex, Inc., a leading provider of integrated human capital management solutions for payroll, benefits, human resources, and insurance...

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...
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Paychex Blogs

Paychex Sees Increase in Wage Growth, Slowdown in Job Growth in November

Paychex Sees Increase in Wage Growth, Slowdown in Job Growth in November mdiluglio Fri, 12/07/2018 - 14:43 https://www.accountingtoday.com/news/paychex-sees-increase-in-wage-growth-but-slowdown-in-job-growth-in-november Michael DiLuglio Wed, 12/05/2…

Paychex Boosts PEO Business With Oasis Buy

Paychex Boosts PEO Business With Oasis Buy mdiluglio Fri, 12/07/2018 - 11:41 http://ww2.cfo.com/ma/2018/11/paychex-boosts-peo-business-with-oasis-buy/ Michael DiLuglio Tue, 11/27/2018 - 12:00 CFO.com

Checking in with Paychex: More than Two Years After Expansion Announcement, Did Company Deliver in South Whitehall?

Checking in with Paychex: More than Two Years After Expansion Announcement, Did Company Deliver in South Whitehall? mdiluglio Fri, 12/07/2018 - 11:38 http://www.mcall.com/business/mc-biz-paychex-growing-lehigh-valley-oasis-acquisition-20181128-story.html Michael DiLug…

Paychex to Buy Human-Resources Firm Oasis for $1.2 Billion

Paychex to Buy Human-Resources Firm Oasis for $1.2 Billion mdiluglio Fri, 12/07/2018 - 11:37 https://www.wsj.com/articles/paychex-to-buy-human-resources-firm-oasis-for-1-2-billion-1543244838 Michael DiLuglio Mon, 11/26/2018 - 12:00 …

What’s Next for Online Sales Tax and How to Prepare your Small Business Clients

What’s Next for Online Sales Tax and How to Prepare your Small Business Clients mdiluglio Fri, 11/16/2018 - 12:34 https://www.cpapracticeadvisor.com/news/12436409/whats-next-for-online-sales-tax-and-how-to-prepare-your-small-business-clients Michael DiLuglio …

What Matters to Small Business Owners After the Midterm Elections?

What Matters to Small Business Owners After the Midterm Elections? tvolkmann Mon, 11/12/2018 - 10:42 https://www.businessnewsdaily.com/11130-small-business-midterm-election-concerns.html Michael DiLuglio Thu, 11/08/2018 - 12:00 Bu…
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Paychex Company Life and Culture

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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 Martin Mucci, Mike Gioja and Laurie Maffett.

  • How many employees does Paychex have?

    Paychex has 14,500 employees.

  • What is Paychex revenue?

    Latest Paychex annual revenue is $3.4 b.

  • What is Paychex revenue per employee?

    Latest Paychex revenue per employee is $233.2 k.

  • Who are Paychex competitors?

    Competitors of Paychex include Celergo, Fiserv and Booz Allen Hamilton.

  • Where is Paychex headquarters?

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

  • Where are Paychex offices?

    Paychex has offices in Rochester, SF, Brookfield, Appleton and in 127 other locations.

  • How many offices does Paychex have?

    Paychex has 152 offices.