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, US | Map |
| Website | paychex.com | |
| Employee Ratings | More | |
| Culture score | C+ | More |
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
Mike 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 105 other locations
Rochester, US (HQ)
911 Panorama Trail S
Albany, US
94 New Karner Rd #101
Albuquerque, US
1551 Mercantile Ave NE
Albuquerque, US
4500 Alexander Blvd NE #100
Allentown, US
1550 Pond Rd #302
Appleton, US
4650 W Spencer St #2
Paychex Financials and Metrics
Paychex Revenue
Paychex's revenue was reported to be $3.77 b in FY, 2019 which is a 11.6% increase from the previous period.
| USD | |
|---|---|
Revenue (Q3, 2020) | 1.1b |
Net income (Q3, 2020) | 354.5m |
EBIT (Q3, 2020) | 470.1m |
Market capitalization (22-May-2020) | 24.2b |
Closing stock price (22-May-2020) | 67.6 |
Cash (29-Feb-2020) | 1.2b |
EV | 24.0b |
Paychex's current market capitalization is $24.2 b.
Annual
Quarterly
| USD | Q1, 2018 | Q2, 2018 | Q3, 2018 | Q1, 2019 | Q2, 2019 | Q3, 2019 | Q1, 2020 | Q2, 2020 | Q3, 2020 |
|---|---|---|---|---|---|---|---|---|---|
Revenue | 803.1m | 812.5m | 866.5m | 862.8m | 858.9m | 1.1b | 992.0m | 990.7m | 1.1b |
Cost of goods sold | 232.1m | 248.7m | 270.7m | 265.5m | 264.9m | 325.3m | 325.4m | 323.4m | |
Gross profit | 571.0m | 563.8m | 595.8m | 597.3m | 594.0m | 745.1m | 666.6m | 667.3m | |
Gross profit Margin, % | 71% | 69% | 69% | 69% | 69% | 70% | 67% | 67% |
Annual
Quarterly
| USD | Q1, 2018 | Q2, 2018 | Q3, 2018 | Q1, 2019 | Q2, 2019 | Q3, 2019 | Q1, 2020 | Q2, 2020 | Q3, 2020 |
|---|---|---|---|---|---|---|---|---|---|
Cash | 234.4m | 257.2m | 323.9m | 440.1m | 510.6m | 696.4m | 586.4m | 600.6m | 1.2b |
Accounts Receivable | 538.6m | 595.2m | 550.5m | 535.2m | 562.6m | 821.0m | 425.1m | 464.9m | 436.3m |
Prepaid Expenses | 81.6m | 73.4m | 77.9m | 225.1m | 234.2m | 235.0m | 242.3m | 240.9m | |
Current Assets | 6.0b | 6.0b | 5.0b | 5.1b | 5.3b | 7.3b | 5.6b | 5.6b | 6.4b |
Annual
Quarterly
| USD | Q1, 2018 | Q2, 2018 | Q3, 2018 | Q1, 2019 | Q2, 2019 | Q3, 2019 | Q1, 2020 | Q2, 2020 | Q3, 2020 |
|---|---|---|---|---|---|---|---|---|---|
Net Income | 227.8m | 444.8m | 705.2m | 243.6m | 479.4m | 804.0m | 264.2m | 522.9m | 877.4m |
Depreciation and Amortization | 32.0m | 65.7m | 102.3m | 35.9m | 72.7m | 125.7m | 52.9m | 107.9m | |
Accounts Payable | (19.2m) | (34.3m) | 80.9m | (15.2m) | (30.2m) | 108.4m | (39.6m) | (14.5m) | (26.5m) |
Cash From Operating Activities | 343.6m | 519.4m | 988.9m | 273.7m | 497.2m | 1.0b | 294.8m | 564.6m | 1.1b |
| USD | Y, 2020 |
|---|---|
EV/EBIT | 51 x |
EV/CFO | 22.8 x |
Financial Leverage | 3.4 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 | $4.50 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 | $1.20 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 Online and Social Media Presence
11.02k Twitter followers
Paychex has 11.02k Twitter Followers. The number of followers has increased 1.3% month over month and increased 3.2% quarter over quarter
Paychex's Trends
Twitter Engagement Stats for @Paychex
16k
Tweets
599
Following
11k
Followers
87
Tweets last 30 days
2.7
Avg. likes per Tweet
94.3%
Tweets with engagement
Paychex Company Culture
Overall Culture
C+
66/100
CEO Rating
A
76/100
Compensation
B-
67/100
Diversity
B-
68/100
Paychex News and Updates
May 19, 2020
Paychex sees 'early signs' of stabilization in its business
Paychex Inc. said in a Tuesday release that it is seeing "early signs of moderation and stabilization" in its key business metrics despite the "severe" effects of COVID-19 on the U.S. economy. "We believe our strong balance sheet and operational flexibility will allow us to successfully manage thro…
May 18, 2020
Can Paychex Stock Drop To $44?
Despite a 25% decline in Paychex stock since the beginning of this year, as the spread of the novel Coronavirus rattled the stock markets and the broader economy, at the current price of $63 per share, we believe Paychex has a significant downside if there are no signs of abatement of the crisis...
March 30, 2020
Will Paychex Underperform The S&P Post The COVID-19 Crisis?
Comparing the trend in Paychex’s (NASDAQ: PAYX) stock over recent months with its trajectory during and after the Great Recession of 2008, we believe that the stock could potentially recover to a little below pre-crisis levels, once fears surrounding the coronavirus outbreak subside...
March 25, 2020
Paychex tops profit expectations while revenue matches; stock gains ground
Shares of Paychex Inc. rose 0.7% in premarket trading Wednesday, after the human resources services company reported a fiscal third-quarter profit that topped expectations, but revenue that matched and provided a downbeat full-year growth outlook. The company said the impact of the COVID-19 virus o…
March 20, 2020
Paychex Helps Businesses Navigate Families First Coronavirus Response Act
ROCHESTER, N.Y., March 20, 2020 /PRNewswire/ -- On March 18, Congress passed and the President signed into law the Families First Coronavirus Response Act to address the impact of the coronavirus (COVID-19) pandemic. Paychex, Inc., a leading provider of HR, payroll, benefits, and...
March 03, 2020
Small-business hiring grew in February, but earnings growth slowed, says Paychex
The pace of small-business job growth accelerated for the third month in a row in February, according to payroll giant Paychex, but the rate of hourly earnings growth slipped.
Paychex Blogs
May 12, 2020
#WorkTrends: Outsourcing HR: Why and How
#WorkTrends: Outsourcing HR: Why and How
edeperrior
Tue, 05/12/2020 - 17:15
https://talentculture.com/worktrends-outsourcing-hr-why-and-how/?utm_source=rss&utm_medium=rss&utm_campaign=worktrends-outsourcing-hr-why-and-how
Emily DePerrior
Fri…
May 12, 2020
This CEO of a $25 billion market cap payroll services giant keeps it real on the post coronavirus US economy
This CEO of a $25 billion market cap payroll services giant keeps it real on the post coronavirus US economy
edeperrior
Tue, 05/12/2020 - 17:15
https://finance.yahoo.com/news/this-ceo-of-a-25-billion-market-cap-payroll-services-giant-keeps-it-real-on-the-post-coronavirus-us-economy-170214826.html…
May 12, 2020
How to fix the failed small business loan program
How to fix the failed small business loan program
edeperrior
Tue, 05/12/2020 - 17:13
https://www.businessinsider.com/how-congress-can-fix-coronavirus-ppp-small-business-loan-program-2020-4
Emily DePerrior
Sat, 04/25/2020 - 12:00
B…
May 12, 2020
#TradeTalks: How Paychex is Helping Businesses Navigate #COVID19?
#TradeTalks: How Paychex is Helping Businesses Navigate #COVID19?
edeperrior
Tue, 05/12/2020 - 17:12
https://www.nasdaq.com/videos/tradetalks%3A-how-paychex-is-helping-businesses-navigate-covid19
Emily DePerrior
Thu, 04/23/2020 - 12:00
…
March 31, 2020
March 1 2020 Data
March 1 2020 Data
wgavett
Tue, 03/31/2020 - 08:30
Data File
SBEW_Import_0.json
As of Date
Sun, 03/01/2020 - 12:00
March 09, 2020
66% of Organizations Feel Prepared to Respond to the Coronavirus, Reports Paychex
66% of Organizations Feel Prepared to Respond to the Coronavirus, Reports Paychex
edeperrior
Mon, 03/09/2020 - 13:03
https://www.hrtechnologist.com/news/workplace-wellness/66-of-organizations-feel-prepared-to-respond-to-the-coronavirus-reports-paychex/
Emily DePerrior…
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 15,700 employees.
What is Paychex revenue?
Latest Paychex annual revenue is $3.8 b.
What is Paychex revenue per employee?
Latest Paychex revenue per employee is $240.3 k.
Who are Paychex competitors?
Competitors of Paychex include ADP, Paycor 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, Albany, Albuquerque, Allentown and in 105 other locations.
How many offices does Paychex have?
Paychex has 113 offices.
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