Paychex

Paychex

Paychex

American Payment Technology Company

Paychex, Inc., headquartered in Rochester, New York, is a provider of human resources, payroll, and employee benefits outsourcing services for small- to medium-sized businesses.[1] 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]

Quick Facts Company type, Traded as ...

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

More information Company, Year ...

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

More information Name, Tenure ...

References

  1. [1]
    "Paychex, Inc. Annual Form 10-K". U.S. Securities and Exchange Commission.
  2. [2]
    "Paychex". Fortune.
  3. [3]
    "Golisano Built Paychex into a Success StoryArchived 2016-03-03 at the Wayback Machine." Rochester Business Journal.
  4. [4]
    "Paychex, Inc. (PAYX) Company Profile & Facts – Yahoo Finance". finance.yahoo.com. Retrieved August 31, 2020.
  5. [5]
    "History of Paychex, Inc. – FundingUniverse". www.fundinguniverse.com. Retrieved August 31, 2020.
  6. [6]
    "Servicers". Forbes. Retrieved August 31, 2020.
  7. [7]
    "Paychex Acquires Olsen". Los Angeles Times. November 22, 1996.
  8. [8]
    "Company News;paychex Plans to Buy National Business Solutions". The New York Times. June 26, 1996.
  9. [9]
    "Company News; Paychex to Buy Advantage Payroll for $240 Million". The New York Times. Bloomberg News. September 19, 2002.
  10. [10]
    "Paychex to acquire rival InterPay". American City Business Journals. March 17, 2003.
  11. [11]
    "Paychex Acquires Product Line From Stromberg". Accounting Today. October 17, 2003.
  12. [12]
    "Paychex Completes Acquisition of Stromberg". Accounting Today. April 14, 2004.
  13. [13]
    "Paychex announces acquisition of BeneTrac". Reuters. September 13, 2007.
  14. [14]
    Yue, Lorene (December 13, 2010). "SurePayroll bought by rival Paychex for $115M". Crain's Chicago Business.
  15. [15]
    Team, Trefis. "Paychex Gains From EPlan Deal, But Stock Still Too Rich". Forbes.
  16. [16]
    Dougherty, Nate (January 9, 2012). "Paychex acquires Icon Time Systems". Rochester Business Journal.
  17. [17]
    "Paychex Acquires ExpenseWire" (Press release). Business Wire. December 3, 2012.
  18. [18]
    "Paychex Announces Acquisition of myStaffingPro" (Press release). Business Wire. June 12, 2013.
  19. [19]
    Team, Trefis. "Paychex Expands Its Software-As-A-Service Based Solutions By Acquiring Nettime". Forbes.
  20. [20]
    "Paychex (PAYX) Completes Advance Partners Acquisition". www.nasdaq.com.
  21. [21]
    "Paychex acquires HR Outsourcing, Inc". RochesterFirst. August 21, 2017.
  22. [22]
    Fanelli, Gino (March 1, 2018). "Paychex acquires Lessor Group". Rochester Business Journal.
  23. [23]
    "Paychex Acquires Oasis Outsourcing for $1.2 Billion". The Wall Street Journal. December 21, 2018.
  24. [24]
    Prang, Allison (November 26, 2018). "Paychex to Buy Human-Resources Firm Oasis for $1.2 Billion". The Wall Street Journal.
  25. [25]
    "Paychex to buy outsourcing firm Oasis for $1.2 billion". Reuters. November 26, 2018.
  26. [26]
    "Oasis Outsourcing to be acquired by PayChex". South Florida Business Journal.
  27. [27]
    Karol, Gabrielle (January 9, 2016). "Paychex, IHS Launch Small Business Jobs Index". FOXBusiness. Retrieved September 5, 2020.
  28. [28]
    "Small Business Employment Watch provided by Paychex | IHS Markit". www.paychex.com. Retrieved September 5, 2020.[self-published source]
  29. [29]
    Carney, John (June 30, 2015). "Don't Look for Paychex to Bounce". The Wall Street Journal. Retrieved September 5, 2020.
  30. [30]
    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.
  31. [31]
    Sumser, John. "The HRExaminer 2020 Watchlist: Paychex – Payroll and Basic HR Services | HR Examiner". Retrieved September 9, 2020.
  32. [32]
    "Paychex". Fortune. Retrieved September 9, 2020.
  33. [33]
    "Paychex (PAYX)". Forbes. Retrieved September 9, 2020.
  34. [34]
    "Honorees 2020". Ethisphere® Institute | Good. Smart. Business. Profit.®. Retrieved September 9, 2020.
  35. [35]
    "Top Workplaces | The Democrat and Chronicle". Top Workplaces. Retrieved September 9, 2020.
  36. [36]
    Roth, Audrey (June 8, 2016). "2016 TekTonic Award Winners". HRO Today. Retrieved September 9, 2020.
  37. [37]
    "Paychex Names John Gibson As New CEO; Martin Mucci To Remain As Chairman". Nasdaq. Retrieved June 23, 2023.
  • Official website
  • Business data for Paychex, Inc.:
  • Wolfram Alpha Fundamentals & Financials
Share this article:

This article uses material from the Wikipedia article Paychex, and is written by contributors. Text is available under a CC BY-SA 4.0 International License; additional terms may apply. Images, videos and audio are available under their respective licenses.