HOME

TheInfoList



OR:

Paychex, Inc. is an American provider of
human resource Human resources (HR) is the set of people who make up the workforce of an organization, business sector, industry, or economy. A narrower concept is human capital, the knowledge and skills which the individuals command. Similar terms include ...
,
payroll A payroll is the list of employees of some company that is entitled to receive payments as well as other work benefits and the amounts that each should receive. Along with the amounts that each employee should receive for time worked or tasks pe ...
, and benefits outsourcing services for small- to medium-sized businesses. With headquarters in
Rochester, New York Rochester () is a City (New York), city in the U.S. state of New York (state), New York, the county seat, seat of Monroe County, New York, Monroe County, and the fourth-most populous in the state after New York City, Buffalo, New York, Buffalo, ...
, the company has more than 100 offices serving approximately 670,000 payroll clients in the U.S. and Europe. In 2019, Paychex ranked in position 700 on the
Fortune 500 The ''Fortune'' 500 is an annual list compiled and published by ''Fortune'' magazine that ranks 500 of the largest United States corporations by total revenue for their respective fiscal years. The list includes publicly held companies, along ...
list of largest corporations by revenue, and the company's revenue for fiscal year 2020 is projected to exceed $4.1 billion.


History

Paychex was founded in 1971 by
Tom Golisano Blase Thomas Golisano (born November 14, 1941) is an American billionaire businessman and philanthropist. He is the founder of Paychex, which offers payroll and human resources services to businesses. Golisano owned Greenlight Networks, a fiber ...
, who started the company with only $3,000. The operation grew to include 18 franchises and partnerships, which were eventually consolidated into one private company in 1979. Paychex held an
initial public offering An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investment ...
in 1983 and began trading on the
NASDAQ The Nasdaq Stock Market () (National Association of Securities Dealers Automated Quotations Stock Market) is an American stock exchange based in New York City. It is the most active stock trading venue in the US by volume, and ranked second ...
(PAYX). In the first quarter of fiscal year 2020, the company repurchased $171.9 million of its own stock and currently has a
market capitalization Market capitalization, sometimes referred to as market cap, is the total value of a publicly traded company's outstanding common shares owned by stockholders. Market capitalization is equal to the market price per common share multiplied by t ...
of $30.155 billion.


Acquisitions


Recent acquisitions

In December 2018, Paychex closed on its acquisition of Oasis Outsourcing Acquisition Corporation for $1.2 billion. At the time of the Oasis acquisition, Paychex had 650,000 payroll clients and 14,500 employees. Oasis, a professional employer organization (PEO) brought 8,400 PEO clients, 1,100 employees, and an annual revenue that exceeded $9 billion in 2017. Following the acquisition of Oasis, Paychex provides HR outsourcing services to 1.4 million worksite employees.


Small Business Employment Watch

Paychex and
IHS Markit IHS Markit Ltd was an information services provider that completed a merger with S&P Global in 2022. Headquartered in London, it was formed in 2016 with the merger of IHS Inc. and Markit Ltd. History IHS Information Handling Services (IHS) "was ...
launched a Small Business Jobs Index in 2014 that measures the health of businesses employing 50 people or less. 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. The Employment Watch is frequently used by financial experts, analysts, and journalists assessing the economic outlook. 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.


Awards and honors

*Paychex named to HR Examiner's 2020 Watchlist for the use of AI in HR *In 2019, Paychex was named to the
FORTUNE Fortune may refer to: General * Fortuna or Fortune, the Roman goddess of luck * Luck * Wealth * Fortune, a prediction made in fortune-telling * Fortune, in a fortune cookie Arts and entertainment Film and television * ''The Fortune'' (1931 film) ...
list of Future 50 companies *Paychex was listed as number 211 on
Forbes ''Forbes'' () is an American business magazine owned by Integrated Whale Media Investments and the Forbes family. Published eight times a year, it features articles on finance, industry, investing, and marketing topics. ''Forbes'' also re ...
2019 list of the World's Best *In 2018, Paychex was named one of the World's Most Ethical Companies by
Ethisphere The Ethisphere Institute is a for-profit company that defines and measures corporate ethical standards, recognizes companies that excel, and promotes best practices in corporate ethics. The company is located in Scottsdale, Arizona. The compan ...
for an 11th time *In 2018,
Forbes ''Forbes'' () is an American business magazine owned by Integrated Whale Media Investments and the Forbes family. Published eight times a year, it features articles on finance, industry, investing, and marketing topics. ''Forbes'' also re ...
placed Paychex at number 76 on their list of the World's Most Innovative Companies *Rochester Democrat and Chronicle named Paychex one of the Best Places to Work in
Rochester Rochester may refer to: Places Australia * Rochester, Victoria Canada * Rochester, Alberta United Kingdom *Rochester, Kent ** City of Rochester-upon-Medway (1982–1998), district council area ** History of Rochester, Kent ** HM Prison ...
in 2016 *Paychex Flex received the 2016 TekTonic Award from HRO Magazine for being a best-in-class mobile and cloud-based technology suite


References


External links

*
Wolfram Alpha Fundamentals & Financials
{{City of Rochester, NY Financial services companies established in 1971 Companies listed on the Nasdaq Companies based in Monroe County, New York Business services companies established in 1971 Business services companies of the United States