OverviewSuggest Edit

Paychex is a company providing human capital management solutions for payroll, benefits, human resources, and insurance services. It 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. The company also delivers payroll tax administration, employee payment, and regulatory compliance services, such as new-hire reporting and garnishment processing.

TypePublic
Founded1971
HQRochester, NY, US
Websitepaychex.com
Employee Ratings3.8
Overall CultureD-

Latest Updates

Employees (est.) (May 2020)15,600(-1%)
Job Openings843
Revenue (FY, 2020)$4 B(+8%)
Share Price (Jun 2021)$105
Cybersecurity ratingAMore

Key People/Management at Paychex

Martin Mucci

Martin Mucci

President and Chief Executive Officer
Efrain Rivera

Efrain Rivera

Senior Vice President, Chief Financial Officer and Treasurer
Mark Bottini

Mark Bottini

Senior Vice President, Sales
John Gibson

John Gibson

Senior Vice President, Service
Michael Gioja

Michael Gioja

Senior Vice President, IT and Product Development
Neal Collins

Neal Collins

Vice President, Corporate Development and Managing Director, Mergers and Acquisitions
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Paychex Office Locations

Paychex has offices in Rochester, Albany, Albuquerque, Allentown and in 55 other locations
Rochester, NY, US (HQ)
911 Panorama Trail S
Albany, NY, US
94 New Karner Rd #101
Albuquerque, NM, US
4500 Alexander Blvd NE #100
Allentown, PA, US
1550 Pond Rd #302
Appleton, WI, US
4650 W Spencer St #2
Auburn, ME, US
126 Merrow Rd
Show all (61)

Paychex Financials and Metrics

Paychex Revenue

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View revenue for all periods
Paychex's revenue was reported to be $4.04 b in FY, 2020
USD

Revenue (Q2, 2021)

983.7m

Gross profit (Q2, 2021)

663.8m

Gross profit margin (Q2, 2021), %

67.5%

Net income (Q2, 2021)

272.4m

EBIT (Q2, 2021)

354.3m

Market capitalization (11-Jun-2021)

37.8b

Closing stock price (11-Jun-2021)

105.0

Cash (30-Nov-2020)

693.5m

EV

37.2b
Paychex's current market capitalization is $37.8 b.
Annual
USDFY, 2017FY, 2018FY, 2019FY, 2020

Revenue

3.2b3.4b3.8b4.0b

Revenue growth, %

7%7%12%

Cost of goods sold

919.6m1.0b1.2b1.3b

Gross profit

2.2b2.4b2.6b2.8b
Quarterly
USDQ1, 2018Q2, 2018Q3, 2018Q1, 2019Q2, 2019Q3, 2019Q1, 2020Q2, 2020Q3, 2020Q1, 2021Q2, 2021

Revenue

803.1m812.5m866.5m862.8m858.9m1.1b992.0m990.7m1.1b932.2m983.7m

Cost of goods sold

232.1m248.7m270.7m265.5m264.9m325.3m325.4m323.4m307.1m319.9m

Gross profit

571.0m563.8m595.8m597.3m594.0m745.1m666.6m667.3m625.1m663.8m

Gross profit Margin, %

71%69%69%69%69%70%67%67%67%67%
Annual
USDFY, 2017FY, 2018FY, 2019FY, 2020

Cash

184.6m358.2m673.6m905.2m

Accounts Receivable

507.5m531.4m826.8m384.1m

Prepaid Expenses

58.3m75.8m233.9m244.8m

Current Assets

5.3b5.8b5.7b5.5b
Quarterly
Annual
USDFY, 2017FY, 2018FY, 2019FY, 2020

Net Income

817.3m933.7m1.0b1.1b

Depreciation and Amortization

126.9m138.0m181.5m209.7m

Accounts Payable

39.1m42.6m77.5m(4.9m)

Cash From Operating Activities

960.4m1.3b1.3b1.4b
Quarterly
USDQ1, 2018Q2, 2018Q3, 2018Q1, 2019Q2, 2019Q3, 2019Q1, 2020Q2, 2020Q3, 2020Q1, 2021Q2, 2021

Net Income

227.8m444.8m705.2m243.6m479.4m804.0m264.2m522.9m877.4m211.6m

Depreciation and Amortization

32.0m65.7m102.3m35.9m72.7m125.7m52.9m107.9m49.6m98.2m

Accounts Payable

(19.2m)(34.3m)80.9m(15.2m)(30.2m)108.4m(39.6m)(14.5m)(26.5m)(55.6m)(14.8m)

Cash From Operating Activities

343.6m519.4m988.9m273.7m497.2m1.0b294.8m564.6m1.1b430.7m
USDFY, 2017

Revenue/Employee

230.0k

Financial Leverage

3.5 x
Show all financial metrics

Paychex Operating Metrics

Paychex's Enterprise Customers was reported to be 670 k in FY, 2019.
FY, 2016Q1, 2017Q2, 2017Q3, 2017FY, 2017Q1, 2018Q2, 2018Q3, 2018FY, 2018Q1, 2019Q2, 2019Q3, 2019FY, 2019Q1, 2020Q2, 2020

Enterprise Customers

605 k605 k650 k670 k

Average Client Funds Balances

$4.11 b$3.79 b$3.66 b$4.5 b$4.07 b$3.79 b$3.66 b$4.55 b$4.04 b$3.69 b$3.66 b$4.38 b$3.97 b$3.74 b$3.73 b

Enterprise Customers (Paychex HR Services)

35 k37 k41 k37 k

Worksite Employees Served (Paychex HR Services)

944 k1.02 m1.16 m1.09 m
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Paychex Acquisitions / Subsidiaries

Company NameDateDeal Size
Oasis OutsourcingNovember 26, 2018$1.2 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: 76.3% from Management Solutions, 21.6% from PEO and Insurance Services and 2.1% from Other

Paychex Cybersecurity Score

Cybersecurity ratingPremium dataset

A

96/100

SecurityScorecard logo

Paychex Environment, Social & Governance (ESG) Ratings

CSRHub ESG ratingPremium dataset

40-49

out of 100

CSRHub logo

Paychex Online and Social Media Presence

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Paychex Company Culture

  • Overall Culture

    D-

    57/100

  • CEO Rating

    A+

    90/100

  • Compensation

    F

    45/100

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Paychex News and Updates

After A Strong Rally, Paychex Stock Has Reached Its Near-Term Potential

The shares of Paychex have surpassed pre-Covid levels this year, propelled by overall optimism from ongoing vaccination in the U.S. and a revision of earlier provided guidance. Per recent filings, revenues are expected to decline at a low single-digit rate while margins are likely to observe...

Kickfurther Raises $5.9 Million Seed Plus Funding Round Led by Paychex Founder Tom Golisano

BOULDER, Colo., April 29, 2021 (GLOBE NEWSWIRE) -- Kickfurther, the first crowdfunded inventory funding platform, today announced a $5.9 million Seed Plus funding round led by Grand Oaks Capital, an investment firm founded by Paychex founder Tom Golisano. The round also included previous investors…

Paychex Pooled Employer Plan Accelerates Growth Adding 2,000 Companies in Three Months

ROCHESTER, N.Y., April 19, 2021 /PRNewswire/ -- Paychex, Inc., the HR software and services company that provides the power of simplicity for increasingly complex workplaces, today announced their Pooled Employer Plan (PEP) offering added 2,000 clients since launch. In the brief time...

Paychex stock pulls back after profit tops expectations and revenue falls in line with forecasts

Shares of Paychex Inc. dropped 3.8% in premarket trading, a day after reaching an all-time intraday high, after the human resources services company reported fiscal third-quarter profit that topped expectations while revenue fell in line with forecasts. Net income for the quarter to Feb. 28 slipped…

Recessionary Environment To Inhibit Further Gains In Paychex Stock

We believe there may be better places for your money than Paychex stock at the present time. After gaining 11% this year, PAYX currently trades at $94 - slightly above the pre-Covid high of $90 in February. Supported by a high customer retention rate during the pandemic, PAYX stock has regained...

Paychex stock jumps toward record territory after profit and revenue beats, raised guidance

Shares of Paychex Inc. rose 1.3% into record territory in premarket trading Wednesday, after the human resources services company reported fiscal second-quarter profit and revenue that beat expectations and raised its full-year outlook. Net income for the quarter to Nov. 30 rose to $272.4 million, …
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Paychex Blogs

Paychex Wins Silver Alexander Hamilton Award in Financial Risk Management

Paychex Wins Silver Alexander Hamilton Award in Financial Risk Management edeperrior Mon, 02/22/2021 - 08:23 https://www.treasuryandrisk.com/2021/02/17/taking-credit-for-a-new-approach-to-risk-management/ Emily DePerrior Wed, 02/17/2021 - 12:00 …

Who Spent Their Last Stimulus Checks?

Who Spent Their Last Stimulus Checks? edeperrior Sun, 02/14/2021 - 20:27 https://www.nytimes.com/interactive/2021/02/08/opinion/stimulus-checks-economy.html Emily DePerrior Mon, 02/08/2021 - 12:00 The New York Times

Small Business Payrolls Improved in January

Small Business Payrolls Improved in January edeperrior Fri, 02/05/2021 - 17:11 https://www.accountingtoday.com/news/small-business-payrolls-improved-in-january Emily DePerrior Tue, 02/02/2021 - 12:00 Accounting Today

Best Places to Work in Insurance

Best Places to Work in Insurance edeperrior Thu, 11/19/2020 - 11:59 https://www.businessinsurance.com/section/best-places-to-work-list Emily DePerrior Mon, 11/09/2020 - 12:00 Business Insurance

HRExaminer Executive Conversations w/ Mike Gioja, Paychex

HRExaminer Executive Conversations w/ Mike Gioja, Paychex edeperrior Thu, 11/19/2020 - 11:58 https://www.blogtalkradio.com/hrexaminer/2020/11/06/hrexaminer-executive-conversations-w-mike-gioja-paychex-nov-6-2020-8am Emily DePerrior Fri, 11/06/2020 -…

Small Business Hiring Moderates in October

Small Business Hiring Moderates in October edeperrior Thu, 11/19/2020 - 11:56 https://smallbiztrends.com/2020/11/small-business-hiring-moderates-october-2020-paychex.html Emily DePerrior Thu, 11/05/2020 - 12:00 Small Business Tren…
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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, Efrain Rivera and Mark Bottini.

  • How many employees does Paychex have?

    Paychex has 15,600 employees.

  • What is Paychex revenue?

    Latest Paychex annual revenue is $4 b.

  • What is Paychex revenue per employee?

    Latest Paychex revenue per employee is $259 k.

  • Who are Paychex competitors?

    Competitors of Paychex include Civica, Alight and Xero.

  • Where is Paychex headquarters?

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

  • Where are Paychex offices?

    Paychex has offices in Rochester, Albany, Albuquerque, Allentown and in 55 other locations.

  • How many offices does Paychex have?

    Paychex has 61 offices.