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(Top) 1 History 1.1 Acquisitions 1.2 Small Business Employment Watch 1.3 Awards and honors 1.4 Chief executives 2 References 3 External links

Paychex

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From Wikipedia, the free encyclopedia

Paychex, Inc.

Headquarters in Rochester, New York

Company type

Public

Traded as

Nasdaq: PAYX

Nasdaq-100 component

S&P 500 component

Industry

Business process outsourcing

Human capital management

Founded

1971; 53 years ago (1971)

Founder

B. Thomas Golisano

Headquarters

Rochester, New York, U.S.

Area served

United States

Brazil

Denmark

Germany

Norway

Sweden

Key people

B. Thomas Golisano (chairman)

John Gibson (president & CEO)

Robert Schrader (CFO)

Services

Payroll and HR services

Revenue

US$5.278 billion (2024)

Operating income

US$2.174 billion (2024)

Net income

US$1.690 billion (2024)

Total assets

US$10.38 billion (2024)

Total equity

US$3.801 billion (2024)

Number of employees

c. 16,500 (2024)

Website

paychex.com

Footnotes / references
^[1]

Paychex, Inc. is an American company that provides human resources, payroll, and employee benefits outsourcing services for small- to medium-sized businesses.^[1] Founded in 1971 and headquartered in Rochester, New York, the company has more than 100 offices serving approximately 740,000 payroll clients in the U.S. and Europe.^[1] Paychex is ranked 681st on the Fortune 500 list of largest corporations by revenue.^[2]

History

Paychex was founded in 1971 by Tom Golisano, who started the company with only $3,000.^[3]^[4]

The operation grew to include 18 franchises and partnerships, which were eventually consolidated into one private company in 1979. In 1983, the company became a public company via an initial public offering.^[5]^[6]

Acquisitions

Company

Year

Price

Ref(s)

Pay-Fone

1995

Undisclosed

Payday

1995

Undisclosed

Olsen Computer Systems, Inc.

1996

Undisclosed

^[7]

National Business Solutions

1996

$142.5 million

^[8]

Advantage Payroll Services, Inc.

2002

$240 million

^[9]

InterPay Inc.

2003

$155 million

^[10]

Time In A Box product from Stromberg

2003

Undisclosed

^[11]

Stromberg

2004

Undisclosed

^[12]

Hawthorne Benefit Technologies

2007

Undisclosed

^[13]

SurePayroll, Inc.

2010

$115 million

^[14]

ePlan Services, Inc.

2011

Undisclosed

^[15]

Icon Time Systems

2012

Undisclosed

^[16]

ExpenseWire

2012

Undisclosed

^[17]

myStaffingPro

2013

Undisclosed

^[18]

NETtime solutions

2014

Undisclosed

^[19]

Advance Partners

2015

Undisclosed

^[20]

Human Resources Outsourcing, Inc.

2017

Undisclosed

^[21]

Lessor Group

2018

Undisclosed

^[22]

Oasis

2018

$1.2 billion

^[23]^[24]^[25]^[26]

Small Business Employment Watch

Paychex and IHS Markit launched a Small Business Jobs Index in 2014 that measures the health of businesses employing 50 people or less.^[27] Today, the Paychex | IHS Markit Small Business Employment Watch shares small business jobs data going back to 2005 and wage data from 2011 to present.^{[citation needed]}^[28] The Employment Watch is frequently used by financial experts, analysts, and journalists assessing the economic outlook.^[29] Paychex CEO Martin Mucci regularly appears in the media to provide analysis of Small Business Employment Watch data, as well as insight into what the health of Paychex as a company says about the health of small business and the economy in general.^[30]

Awards and honors

Paychex named to HR Examiner's 2020 Watchlist for the use of AI in HR^[31]
In 2019, Paychex was named to the FORTUNE list of Future 50 companies^[32]
Paychex was listed as number 211 on Forbes 2019 list of the World's Best^[33]
In 2018, Paychex was named one of the World's Most Ethical Companies by Ethisphere for an 11th time^[34]
In 2018, Forbes placed Paychex at number 76 on their list of the World's Most Innovative Companies^[33]
Rochester Democrat and Chronicle named Paychex one of the Best Places to Work in Rochester in 2016^[35]
Paychex Flex received the 2016 TekTonic Award from HRO Magazine for being a best-in-class mobile and cloud-based technology suite^[36]

Chief executives

Name

Tenure

Tom Golisano

1979 – October 2004

Jonathan J. Judge

October 2004 – July 2010

Martin Mucci

October 2010 – October 2022

John Gibson

October 2022 − present^[37]

References

^ ^a ^b ^c "Paychex, Inc. Annual Form 10-K". U.S. Securities and Exchange Commission. July 11, 2024.

^ "Paychex". Fortune.

^ "Golisano Built Paychex into a Success Story Archived 2016-03-03 at the Wayback Machine." Rochester Business Journal.

^ "Paychex, Inc. (PAYX) Company Profile & Facts – Yahoo Finance". finance.yahoo.com. Retrieved August 31, 2020.

^ "History of Paychex, Inc. – FundingUniverse". www.fundinguniverse.com. Retrieved August 31, 2020.

^ "Servicers". Forbes. Retrieved August 31, 2020.

^ "Paychex Acquires Olsen". Los Angeles Times. November 22, 1996.

^ "Company News;paychex Plans to Buy National Business Solutions". The New York Times. June 26, 1996.

^ "Company News; Paychex to Buy Advantage Payroll for $240 Million". The New York Times. Bloomberg News. September 19, 2002.

^ "Paychex to acquire rival InterPay". American City Business Journals. March 17, 2003.

^ "Paychex Acquires Product Line From Stromberg". Accounting Today. October 17, 2003.

^ "Paychex Completes Acquisition of Stromberg". Accounting Today. April 14, 2004.

^ "Paychex announces acquisition of BeneTrac". Reuters. September 13, 2007.

^ Yue, Lorene (December 13, 2010). "SurePayroll bought by rival Paychex for $115M". Crain's Chicago Business.

^ Team, Trefis. "Paychex Gains From EPlan Deal, But Stock Still Too Rich". Forbes.

^ Dougherty, Nate (January 9, 2012). "Paychex acquires Icon Time Systems". Rochester Business Journal.

^ "Paychex Acquires ExpenseWire" (Press release). Business Wire. December 3, 2012.

^ "Paychex Announces Acquisition of myStaffingPro" (Press release). Business Wire. June 12, 2013.

^ Team, Trefis. "Paychex Expands Its Software-As-A-Service Based Solutions By Acquiring Nettime". Forbes.

^ "Paychex (PAYX) Completes Advance Partners Acquisition". www.nasdaq.com.

^ "Paychex acquires HR Outsourcing, Inc". RochesterFirst. August 21, 2017.

^ Fanelli, Gino (March 1, 2018). "Paychex acquires Lessor Group". Rochester Business Journal.

^ "Paychex Acquires Oasis Outsourcing for $1.2 Billion". The Wall Street Journal. December 21, 2018.

^ Prang, Allison (November 26, 2018). "Paychex to Buy Human-Resources Firm Oasis for $1.2 Billion". The Wall Street Journal.

^ "Paychex to buy outsourcing firm Oasis for $1.2 billion". Reuters. November 26, 2018.

^ "Oasis Outsourcing to be acquired by PayChex". South Florida Business Journal.

^ Karol, Gabrielle (January 9, 2016). "Paychex, IHS Launch Small Business Jobs Index". FOXBusiness. Retrieved September 5, 2020.

^ "Small Business Employment Watch provided by Paychex | IHS Markit". www.paychex.com. Retrieved September 5, 2020.^{[self-published source]}

^ Carney, John (June 30, 2015). "Don't Look for Paychex to Bounce". The Wall Street Journal. Retrieved September 5, 2020.

^ Clifford, Tyler (October 2, 2019). "Paychex CEO tells Jim Cramer that small business hiring picked up in September despite slowdown worries". CNBC. Retrieved September 5, 2020.

^ Sumser, John. "The HRExaminer 2020 Watchlist: Paychex – Payroll and Basic HR Services | HR Examiner". Retrieved September 9, 2020.

^ "Paychex". Fortune. Retrieved September 9, 2020.

^ ^a ^b "Paychex (PAYX)". Forbes. Retrieved September 9, 2020.

^ "Honorees 2020". Ethisphere® Institute | Good. Smart. Business. Profit.®. Retrieved September 9, 2020.

^ "Top Workplaces | The Democrat and Chronicle". Top Workplaces. Retrieved September 9, 2020.

^ Roth, Audrey (June 8, 2016). "2016 TekTonic Award Winners". HRO Today. Retrieved September 9, 2020.

^ "Paychex Names John Gibson As New CEO; Martin Mucci To Remain As Chairman". Nasdaq. Retrieved June 23, 2023.

External links

Official website
Business data for Paychex, Inc.:
- Google
SEC filings
Yahoo!

Wolfram Alpha Fundamentals & Financials

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