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.
TypePublic
HQRochester, US
Founded1971
Size (employees)13,700 (est)
Websitepaychex.com
Paychex was founded in 1971 and is headquartered in Rochester, US
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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 Worthington, Bend, Tallahassee, Seattle 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 $3.15 b in FY, 2017 which is a 6.8% increase from the previous period.
USD

Market capitalization (18-Oct-2018)

24.4b

Closing stock price (18-Oct-2018)

68.0
Paychex's current market capitalization is $24.4 b.
Annual
USDFY, 2014FY, 2015FY, 2016FY, 2017

Revenue

2.5b2.7b3.0b3.2b

Revenue growth, %

9%8%7%

Cost of goods sold

732.5m808.0m857.1m919.6m

Gross profit

1.8b1.9b2.1b2.2b
Annual
USDFY, 2014FY, 2015FY, 2016FY, 2017FY, 2018

Cash

152.5m170.0m131.5m184.6m

Accounts Receivable

36.3m37.9m36.1m507.5m

Prepaid Expenses

46.7m50.8m58.8m58.3m

Current Assets

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

Cash

462.6m140.4m265.3m455.9m412.3m253.1m130.0m165.0m189.9m234.4m257.2m323.9m

Accounts Receivable

168.9m205.6m148.4m206.6m241.1m353.4m485.6m528.9m429.9m538.6m595.2m550.5m

Prepaid Expenses

47.4m48.8m54.0m63.4m62.7m64.4m62.7m65.1m68.0m81.6m73.4m77.9m

Current Assets

487.2m4.9b6.0b4.6b4.6b5.5b4.5b4.2b5.8b6.0b6.0b5.0b
Annual
USDFY, 2014FY, 2015FY, 2016FY, 2017FY, 2018

Net Income

627.5m674.9m756.8m817.3m

Depreciation and Amortization

105.0m106.6m115.1m126.9m

Accounts Payable

45.1m51.1m63.3m39.1m

Cash From Operating Activities

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

Net Income

171.3m344.3m513.7m209.1m398.3m578.7m217.4m419.5m622.0m444.8m705.2m

Depreciation and Amortization

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

Accounts Payable

40.4m600.0k28.2m6.8m(4.2m)28.4m60.9m5.8m37.5m(34.3m)80.9m

Cash From Operating Activities

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

Financial Leverage

3 x
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Paychex Operating Metrics

Paychex's Enterprise Customers was reported to be 12 m in FY, 2017.
FY, 2014FY, 2015FY, 2016May, 2017FY, 2017

Paying Customers

590 k605 k605 k605 k605 k

Enterprise Customers

12 m10 m11 m12 m

Facilities

3.03 m3.04 m2.94 m2.92 m

Locations

100
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Paychex Acquisitions / Subsidiaries

Acquired CompanyDateDeal Size
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
Paychex Benefit TechnologiesSeptember 12, 2007
InterPayMarch 31, 2003$182 m
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Paychex Revenue Breakdown

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Paychex revenue breakdown by business segment: 41.9% from HRS, 56.5% from Payroll Service and 1.6% from Other

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Paychex Online and Social Media Presence

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Paychex News and Updates

NAPEO Membership Elects Frank Fiorille of Paychex to NAPEO Board of Directors

ALEXANDRIA, Va., Sept. 26, 2018 /PRNewswire/ -- The National Association of Professional Employer Organizations (NAPEO) announced today that NAPEO's member companies have elected Frank Fiorille, Vice President of Risk, Compliance and Data Analytics for Paychex Business Solutions, to the...

Square stock extends gains after company rolls out new payroll app; ADP, Paychex stocks fall

Square Inc. rolled out a new, dedicated payroll app on Tuesday, which will allow employers to approve time cards and pay employees. Over the past few quarters, merchant services such as payroll have helped contribute to the company's strong growth. Square has been successful in convincing merchants…

Paychex Launches Learning Management System at HR Technology Conference & Expo

ROCHESTER, N.Y., Sept. 6, 2018 /PRNewswire/ -- According to the 2018 Paychex Pulse of HR Survey, more than half (59%) of HR leaders say that it's increasingly difficult to find and hire quality candidates because of the tightening labor market. Facing record-low unemployment and millions...

Paychex Again Makes the Top 5 on Selling Power's "50 Best Companies to Sell For" List

ROCHESTER, N.Y., Aug. 6, 2018 /PRNewswire/ -- For the sixth consecutive year, Paychex, Inc., a leading provider of integrated human capital management solutions for payroll, human resources, retirement, and insurance services, has been recognized by Selling Power magazine on its 50 Best...

Paychex Again Recognized as Industry Leader in 401(k) Recordkeeping Services

ROCHESTER, N.Y., Aug. 1, 2018 /PRNewswire/ -- For the eighth consecutive year, Paychex, Inc., one of the nation's leading providers in 401(k) recordkeeping services, has earned the distinction of being the retirement industry's leader in total number of defined contribution plans, serving ...

Paychex | IHS Markit Small Business Employment Watch: Jobs and Wage Growth Slow in July

ROCHESTER, N.Y., July 31, 2018 /PRNewswire/ -- The Paychex | IHS Markit Small Business Employment Watch for July shows slight declines in the rates of small business jobs and wage growth. At 99.34 in July, the Small Business Jobs Index is down 0.63 percent year-over-year. Hourly earnings...
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Paychex Blogs

Special Report: Payroll and the New Back Office

Special Report: Payroll and the New Back Office mdiluglio Fri, 10/19/2018 - 14:27 https://cdn.coverstand.com/37089/531952/994b5994b9ede2cfb3aa534bae467ca096784082.pdf Michael DiLuglio Thu, 10/18/2018 - 12:00 Accounting Today

The Future of Blockchain in the Payroll Industry

The Future of Blockchain in the Payroll Industry mdiluglio Fri, 10/19/2018 - 14:24 https://hrdailyadvisor.blr.com/2018/10/15/the-future-of-blockchain-in-the-payroll-industry/ Michael DiLuglio Mon, 10/15/2018 - 12:00 HR Daily Advis…

Paychex Sees Modest Gains in Small Business Job and Wage Growth in September

Paychex Sees Modest Gains in Small Business Job and Wage Growth in September mdiluglio Fri, 10/12/2018 - 16:19 https://www.accountingtoday.com/news/paychex-sees-modest-gains-in-small-business-job-and-wage-growth-in-september Michael DiLuglio Wed, 10…

Why All-In-One HCM Solutions are Not the Great Panacea

Why All-In-One HCM Solutions are Not the Great Panacea mdiluglio Fri, 10/12/2018 - 16:19 https://www.employeebenefitadviser.com/opinion/why-all-in-one-hcm-solutions-are-not-the-great-panacea Michael DiLuglio Tue, 10/02/2018 - 12:00 …

Business Owners Cite Direct Deposit as their Next Payroll Upgrade

Business Owners Cite Direct Deposit as their Next Payroll Upgrade mdiluglio Fri, 10/12/2018 - 16:18 https://www.cpa.com/blog/business-owners-cite-direct-deposit-as-their-next-payroll-upgrade Michael DiLuglio Thu, 09/13/2018 - 12:00 …

Paychex CEO Discusses Q1 Earnings

Paychex CEO Discusses Q1 Earnings mdiluglio Fri, 10/12/2018 - 16:12 https://www.cnbc.com/video/2018/10/02/paychex-ceo-some-businesses-are-waiving-drug-tests-to-draw-workers.html Michael DiLuglio Tue, 10/02/2018 - 12:00 CNBC
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Paychex Company Life and Culture

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