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.
| Type | Public | |
| Founded | 1971 | |
| HQ | Rochester, NY, US | Map |
| Website | paychex.com | |
| Employee Ratings | More | |
| Overall Culture | D- | More |
Recent NewsAll News
- After A Strong Rally, Paychex Stock Has Reached Its Near-Term Potential
- Kickfurther Raises $5.9 Million Seed Plus Funding Round Led by Paychex Founder Tom Golisano
- Paychex Pooled Employer Plan Accelerates Growth Adding 2,000 Companies in Three Months
- Paychex stock pulls back after profit tops expectations and revenue falls in line with forecasts
Key People/Management at Paychex
Martin Mucci
President and Chief Executive Officer
Efrain Rivera
Senior Vice President, Chief Financial Officer and Treasurer
Mark Bottini
Senior Vice President, Sales
John Gibson
Senior Vice President, Service
Michael Gioja
Senior Vice President, IT and Product Development
Neal Collins
Vice President, Corporate Development and Managing Director, Mergers and Acquisitions
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
Paychex Financials and Metrics
Paychex Revenue
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
Quarterly
| USD | Q1, 2018 | Q2, 2018 | Q3, 2018 | Q1, 2019 | Q2, 2019 | Q3, 2019 | Q1, 2020 | Q2, 2020 | Q3, 2020 | Q1, 2021 | Q2, 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|
Revenue | 803.1m | 812.5m | 866.5m | 862.8m | 858.9m | 1.1b | 992.0m | 990.7m | 1.1b | 932.2m | 983.7m |
Cost of goods sold | 232.1m | 248.7m | 270.7m | 265.5m | 264.9m | 325.3m | 325.4m | 323.4m | 307.1m | 319.9m | |
Gross profit | 571.0m | 563.8m | 595.8m | 597.3m | 594.0m | 745.1m | 666.6m | 667.3m | 625.1m | 663.8m | |
Gross profit Margin, % | 71% | 69% | 69% | 69% | 69% | 70% | 67% | 67% | 67% | 67% |
Annual
Quarterly
| USD | Q1, 2018 | Q2, 2018 | Q3, 2018 | Q1, 2019 | Q2, 2019 | Q3, 2019 | Q1, 2020 | Q2, 2020 | Q3, 2020 | Q1, 2021 | Q2, 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|
Cash | 234.4m | 257.2m | 323.9m | 440.1m | 510.6m | 696.4m | 586.4m | 600.6m | 1.2b | 835.7m | 693.5m |
Accounts Receivable | 538.6m | 595.2m | 550.5m | 535.2m | 562.6m | 821.0m | 425.1m | 464.9m | 436.3m | 414.8m | |
Prepaid Expenses | 81.6m | 73.4m | 77.9m | 225.1m | 234.2m | 235.0m | 242.3m | 240.9m | 252.9m | 241.3m | |
Current Assets | 6.0b | 6.0b | 5.0b | 5.1b | 5.3b | 7.3b | 5.6b | 5.6b | 6.4b | 5.3b | 5.6b |
Annual
Quarterly
| USD | Q1, 2018 | Q2, 2018 | Q3, 2018 | Q1, 2019 | Q2, 2019 | Q3, 2019 | Q1, 2020 | Q2, 2020 | Q3, 2020 | Q1, 2021 | Q2, 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|
Net Income | 227.8m | 444.8m | 705.2m | 243.6m | 479.4m | 804.0m | 264.2m | 522.9m | 877.4m | 211.6m | |
Depreciation and Amortization | 32.0m | 65.7m | 102.3m | 35.9m | 72.7m | 125.7m | 52.9m | 107.9m | 49.6m | 98.2m | |
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 | 343.6m | 519.4m | 988.9m | 273.7m | 497.2m | 1.0b | 294.8m | 564.6m | 1.1b | 430.7m |
| USD | FY, 2017 |
|---|---|
Revenue/Employee | 230.0k |
Financial Leverage | 3.5 x |
Paychex Operating Metrics
Paychex's Enterprise Customers was reported to be 670 k in FY, 2019.
| FY, 2016 | Q1, 2017 | Q2, 2017 | Q3, 2017 | FY, 2017 | Q1, 2018 | Q2, 2018 | Q3, 2018 | FY, 2018 | Q1, 2019 | Q2, 2019 | Q3, 2019 | FY, 2019 | Q1, 2020 | Q2, 2020 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Enterprise Customers | 605 k | 605 k | 650 k | 670 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 k | 37 k | 41 k | 37 k | |||||||||||
Worksite Employees Served (Paychex HR Services) | 944 k | 1.02 m | 1.16 m | 1.09 m |
Paychex Acquisitions / Subsidiaries
| Company Name | Date | Deal Size |
|---|---|---|
| Oasis Outsourcing | November 26, 2018 | $1.2 b |
| Lessor Group | March 01, 2018 | |
| 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 Revenue Breakdown
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
Paychex Environment, Social & Governance (ESG) Ratings
Paychex Online and Social Media Presence
11.65k Twitter followers
Paychex has 11.65k Twitter Followers. The number of followers has decreased 0.5% month over month and decreased 0.5% quarter over quarter
Paychex's Trends
Twitter Engagement Stats for @Paychex
16.9k
Tweets
683
Following
11.6k
Followers
90
Tweets last 30 days
1.5
Avg. likes per Tweet
88.9%
Tweets with engagement
Paychex Company Culture
Overall Culture
D-
57/100
CEO Rating
A+
90/100
Compensation
F
45/100
Paychex News and Updates
May 24, 2021
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...
April 29, 2021
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…
April 19, 2021
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...
April 06, 2021
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…
January 04, 2021
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...
December 23, 2020
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, …
Paychex Blogs
February 22, 2021
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
…
February 15, 2021
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
February 05, 2021
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
November 19, 2020
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
November 19, 2020
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 -…
November 19, 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…
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.
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