Paychex

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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.
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TypePublic
Founded1971
HQRochester, USMap
Websitepaychex.com
Employee Ratings3.9More
View Jobs (499)

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Latest Updates

Employees (est.) (Feb 2019)14,600(+3%)
Job Openings499
Revenue (FY, 2018)$3.4 B(+8%)
Share Price (Feb 2019)$75.3

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, 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 $3.38 b in FY, 2018 which is a 7.3% increase from the previous period.
USD

Revenue (Q2, 2019)

858.9m

Gross profit (Q2, 2019)

594.0m

Gross profit margin (Q2, 2019), %

69.2%

Net income (Q2, 2019)

235.8m

EBIT (Q2, 2019)

307.2m

Market capitalization (13-Feb-2019)

27.0b

Closing stock price (13-Feb-2019)

75.3

Cash (30-Nov-2018)

510.6m

EV

26.6b
Paychex's current market capitalization is $27 b.
Annual
USDFY, 2014FY, 2015FY, 2016FY, 2017FY, 2018

Revenue

2.5b2.7b3.0b3.2b3.4b

Revenue growth, %

9%8%7%7%

Cost of goods sold

732.5m808.0m857.1m919.6m1.0b

Gross profit

1.8b1.9b2.1b2.2b2.4b
Quarterly
USDQ1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018Q1, 2019Q2, 2019

Revenue

666.8m676.3m704.3m723.0m722.4752.6m785.5m771.4m795.8m803.1812.5m866.5m862.8m858.9m

Cost of goods sold

194.3m199.1m211.0m205.7m205.2225.9m225.1m226.3m236.8m232.1248.7m270.7m265.5m264.9m

Gross profit

472.5m477.2m493.3m517.3m517.2526.7m560.4m545.1m559.0m571.0563.8m595.8m597.3m594.0m

Gross profit Margin, %

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

Cash

152.5m170.0m131.5m184.6m358.2m

Accounts Receivable

149.4m176.6m36.1m507.5m531.4m

Prepaid Expenses

37.8m50.8m58.8m58.3m75.8m

Current Assets

5.0b5.1b4.9b5.3b5.8b
Quarterly
USDQ1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018Q1, 2019Q2, 2019

Cash

462.6m140.4m265.3m455.9m412.3m253.1m130.0m165.0t189.9m234.4m257.2m323.9m440.1m510.6m

Accounts Receivable

168.9m205.6m148.4m206.6m241.1m353.4m485.6m528.9t429.9m538.6m595.2m550.5m535.2m562.6m

Prepaid Expenses

47.4m48.8m54.0m63.4m62.7m64.4m62.7m65.1t68.0m81.6m73.4m77.9m225.1m234.2m

Current Assets

4.9b4.9b6.0b4.6b4.6b5.5b4.5b4215.7t5.8b6.0b6.0b5.0b5.1b5.3b
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Annual
USDFY, 2014FY, 2015FY, 2016FY, 2017FY, 2018

Net Income

627.5m674.9m756.8m817.3m933.7m

Depreciation and Amortization

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

Accounts Payable

45.1m51.1m63.3m39.1m42.6m

Cash From Operating Activities

880.9m895.2m1.0b960.4m1.3b
Quarterly
USDQ1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018Q1, 2019Q2, 2019

Net Income

171.3m344.3m513.7m209.1m398.3m578.7m217.4m419.5m622.0m210.4m409.2m705.2m243.6m479.4m

Depreciation and Amortization

26.5m52.5m79.1m27.0m54.7m85.1m29.7m59.7m90.7m32.0m65.7m102.3m35.9m72.7m

Accounts Payable

40.4m600.0k28.2m6.8m(4.2m)28.4m60.9m5.8m37.5m(19.8m)(35.5m)80.9m(15.2m)(30.2m)

Cash From Operating Activities

263.1m404.7m692.8m278.3m419.9m791.2m294.7m413.4m769.3m343.6m519.4m988.9m273.7m497.2m
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USDY, 2018

EV/EBIT

86.5 x

EV/CFO

53.4 x

Financial Leverage

2.9 x

P/E Ratio

114.0
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Paychex Operating Metrics

Paychex's Enterprise Customers was reported to be 11 m in FY, 2018.
FY, 2014FY, 2015FY, 2016May, 2017FY, 2017FY, 2018

Paying Customers

590 k605 k605 k605 k605 k650 k

Enterprise Customers

12 m10 m11 m12 m11 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
Oasis OutsourcingNovember 26, 2018$1.20 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
SurePayrollDecember 09, 2010
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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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Competitors

Celergo
Technology - Private
Fiserv
Financial Services - Public
Booz Allen Hamilton
Business Products & Services - Public
Gusto
Financial Services - Private
Paycor
Human Resources & Recruiting - Private
Paylocity
Human Resources & Recruiting - Public
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Paychex Online and Social Media Presence

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Paychex News and Updates

February 11, 2019

Healthcare HR Software Market 2019 Global Analysis By Key Players – Paychex, Paycom, SumTotal Systems, SAP, Ceridian HCM, PeopleAdmin, CoreHR

WiseGuyReports.Com Publish a New Market Research Report On –“ Healthcare HR Software Market 2019 Global Analysis By Key Players – Paychex, Paycom, SumTotal Systems, SAP, Ceridian HCM, PeopleAdmin, CoreHR”. Posted via Industry Today. Follow us on Twitter @IndustryToday
February 05, 2019

Paychex AccountantHQ Wins 2019 BIG Innovation Award

ROCHESTER, N.Y., Feb. 5, 2019 /PRNewswire/ -- Paychex, Inc. announced today that its latest technology and service offering designed exclusively for accountants, Paychex AccountantHQ, was recognized as a winner in the 2019 BIG Innovation Awards presented by the Business Intelligence Group....
January 28, 2019

Paychex Poll Reveals the Government Shutdown Negatively Impacted Business Outlook for Nearly One in Five Business Owners

ROCHESTER, N.Y., Jan. 28, 2019 /PRNewswire/ -- Congress and President Trump reached a temporary deal on Friday, January 25, to end the month-long government shutdown, but the country faces lingering uncertainty about the economic implications of this extended budgetary standoff. Paychex,...
January 09, 2019

New Paychex Data Shows Independent Contractor Growth Outpaces Employee Hiring in Small Businesses

ROCHESTER, N.Y., Jan. 9, 2019 /PRNewswire/ -- Small business owners are increasingly relying on the services of independent contractors as an integral part of their business. According to new research released today by Paychex, Inc., the growth rate of independent contractors peaked in...
January 07, 2019

Paychex Identifies the Top 10 Regulatory Issues for Employers in 2019

ROCHESTER, N.Y., Jan. 7, 2019 /PRNewswire/ -- Paychex, Inc., a leading provider of integrated human capital management solutions for payroll, benefits, human resources, and insurance services, today identified the top 10 regulatory issues that employers should be aware of in 2019. The...
December 17, 2018

Paychex Introduces Simple and Easy-to-Use QuickBooks® Online Data Integration

ROCHESTER, N.Y., Dec. 17, 2018 /PRNewswire/ -- Demonstrating continued commitment to making business simple through innovative technology and service solutions, Paychex, Inc., a leading provider of integrated human capital management solutions for payroll, benefits, human resources, and...
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Paychex Blogs

January 09, 2019

The Top Five Regulatory Issues Among States and Municipalities

The Top Five Regulatory Issues Among States and Municipalities wsummers Wed, 01/09/2019 - 11:27 https://www.cpa.com/blog/the-top-five-regulatory-issues-among-states-and-municipalities Michael DiLuglio Thu, 12/20/2018 - 12:00 CPA.c…
January 09, 2019

Understanding Your Role in Sexual Harassment Prevention

Understanding Your Role in Sexual Harassment Prevention wsummers Wed, 01/09/2019 - 11:24 https://hrdailyadvisor.blr.com/2019/01/04/understanding-your-role-in-sexual-harassment-prevention/ Michael DiLuglio Fri, 01/04/2019 - 12:00 H…
January 09, 2019

Tight Job Market Tough on Small Business Hiring

Tight Job Market Tough on Small Business Hiring wsummers Wed, 01/09/2019 - 11:23 https://www.dispatch.com/news/20190102/tight-job-market-tough-on-small-business-hiring?rssfeed=true Michael DiLuglio Wed, 01/02/2019 - 12:00 The Colu…
January 07, 2019

Voices Help Small Business Payroll Clients Prepare for Tax Season

Voices Help Small Business Payroll Clients Prepare for Tax Season tvolkmann Mon, 01/07/2019 - 16:59 https://www.accountingtoday.com/opinion/help-small-business-payroll-clients-prepare-for-tax-season?feed=00000158-e4d5-df94-a55c-fefffad40000 Michael DiLuglio …
January 07, 2019

Experts: It’s Time for the C-suite to Step Up and Lead

Experts: It’s Time for the C-suite to Step Up and Lead tvolkmann Mon, 01/07/2019 - 16:55 https://www.theladders.com/career-advice/experts-its-time-for-the-c-suite-to-step-up-and-lead Michael DiLuglio Thu, 12/27/2018 - 12:00 Ladder…
December 21, 2018

Paychex Introduces QBO Data Integration

Paychex Introduces QBO Data Integration mdiluglio Fri, 12/21/2018 - 12:11 https://www.accountingtoday.com/news/paychex-introduces-quickbooks-online-data-integration Michael DiLuglio Wed, 12/19/2018 - 12:00 Accounting Today
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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 14,600 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 $231.6 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.