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, US
Websitepaychex.com
Employee Ratings3.8
Overall CultureC+

Latest Updates

Employees (est.) (Feb 2020)15,800
Job Openings287
Revenue (FY, 2020)$4 B(+8%)
Share Price (Nov 2020)$91.9 (+2%)
Cybersecurity ratingAMore

Key People/Management at Paychex

Martin Mucci

Martin Mucci

President and Chief Executive Officer
B. Thomas Golisano

B. Thomas Golisano

Chairman of the Board
Efrain Rivera

Efrain Rivera

Senior Vice President, Chief Financial Officer and Treasurer
Mark Bottini

Mark Bottini

Senior Vice President, Sales
Thomas F. Bonadio

Thomas F. Bonadio

Director
John Gibson

John Gibson

Senior Vice President, Service
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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
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Paychex Financials and Metrics

Paychex Revenue

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

Revenue (Q1, 2021)

932.2m

Gross profit (Q1, 2021)

625.1m

Gross profit margin (Q1, 2021), %

67.1%

Net income (Q1, 2021)

211.6m

Market capitalization (13-Nov-2020)

33.0b

Closing stock price (13-Nov-2020)

91.9

Cash (31-Aug-2020)

835.7m

EV

33.1b
Paychex's current market capitalization is $33 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, 2021

Revenue

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

Cost of goods sold

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

Gross profit

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

Gross profit Margin, %

71%69%69%69%69%70%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, 2021

Net Income

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

Depreciation and Amortization

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

Accounts Payable

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

Cash From Operating Activities

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

Revenue/Employee

230.0k

Financial Leverage

3.5 x
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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$4.50 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 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$1.20 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: 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

    C+

    66/100

  • CEO Rating

    A

    76/100

  • Compensation

    B-

    67/100

  • Diversity

    B-

    68/100

Learn more on Comparably

Paychex News and Updates

15% Downside For Paychex Stock?

Paychex stock is down 3% since the beginning of this year, but at the current price of around $83 per share, we believe that PAYX stock has around 15% potential downside. Why is that? Our belief stems from the fact that PAYX stock is still up almost 60% from the low seen in March...

Paychex stock gains after profit and revenue beats, upbeat outlook

Paychex Inc. reported Tuesday fiscal first-quarter profit and revenue that fell less than expected, and provided an upbeat full-year earnings outlook, citing a faster-than-anticipated recovery from the negative effects of the COVID-19 pandemic. The human resources management company's stock edged u…

Small businesses hired slightly more in September, says Paychex

Small-business employment and hours worked grew a bit in September, especially in the Northeast and within the construction industry, according to the latest monthly report from payroll giant Paychex.

Paychex Introduces Solutions to Help Businesses Manage Employee Health and Safety

ROCHESTER, N.Y., Sept. 24, 2020 /PRNewswire/ -- As businesses across the U.S. reopen either on-site or virtually, many face new and evolving challenges with managing the health and safety of their workforce. Today, Paychex, Inc., a leading provider of HR, payroll, benefits, and insurance...

Paychex Stock Peaked At $80?

Paychex stock (NASDAQ: PAYX) is down around 5% since the beginning of this year, but at the current price around $80 per share, we believe that Paychex stock could see further downside. Why is that? Our belief stems from the fact that Paychex stock has risen 26% from the low seen in mid-2018...

Put Your Future Paychex Into ADP Instead!

The stock price for ADP is up roughly 9% since the beginning of 2019. In comparison, Paychex has seen its stock grow by 19% during the same period. The difference in the stock price growth only makes sense when we look at the growth in revenue, where ADP’s revenue has risen from $13.27 billion in...
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Paychex Blogs

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…

Post-election federal stimulus a top priority for SMEs

Post-election federal stimulus a top priority for SMEs edeperrior Thu, 11/19/2020 - 11:55 https://hrexecutive.com/post-election-federal-stimulus-a-top-priority-for-small-medium-employers/ Emily DePerrior Thu, 11/05/2020 - 12:00 HR…

Report: Florida, Tampa Bay small business job growth outpaced much of the US in October

Report: Florida, Tampa Bay small business job growth outpaced much of the US in October edeperrior Thu, 11/19/2020 - 11:54 https://www.bizjournals.com/tampabay/news/2020/11/03/report-florida-tampa-bay-small-business-job-grow.html Emily DePerrior Tue…

Paychex CEO on Small Business, U.S. Jobs Report, Stimulus

Paychex CEO on Small Business, U.S. Jobs Report, Stimulus edeperrior Thu, 11/19/2020 - 11:53 https://www.bloomberg.com/news/videos/2020-11-06/paychex-ceo-on-small-business-u-s-jobs-report-stimulus-video Emily DePerrior Fri, 11/06/2020 - 12:00 …
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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, B. Thomas Golisano and Efrain Rivera.

  • How many employees does Paychex have?

    Paychex has 15,800 employees.

  • What is Paychex revenue?

    Latest Paychex annual revenue is $4 b.

  • What is Paychex revenue per employee?

    Latest Paychex revenue per employee is $255.7 k.

  • Who are Paychex competitors?

    Competitors of Paychex include SAP SuccessFactors, Altron 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 105 other locations.

  • How many offices does Paychex have?

    Paychex has 113 offices.