Paychex, Inc. provides integrated human capital management solutions for human resources (HR), payroll, benefits, and insurance services for small to medium-sized businesses in the United States and Europe. The company offers payroll processing services; payroll tax administration services; employee payment services; and regulatory compliance services, such as new-hire reporting and garnishment processing. It also provides HR solutions, including payroll, employer compliance, HR and employee benefits administration, risk management outsourcing, and the on-site availability of a professionally trained HR representative; and retirement services administration, including plan implementation, ongoing compliance with government regulations, employee and employer reporting, participant and employer online access, electronic funds transfer, and other administrative services. In addition, the company offers cloud-based HR administration software products for employee benefits management and administration, time and attendance, digital communication solutions, recruiting, and onboarding solutions; plan administration outsourcing and state unemployment insurance services; various business services to small to medium-sized businesses comprising payroll funding and outsourcing services, which include payroll processing, invoicing, and tax preparation; and payment processing services, financial fitness programs, and a small-business loan resource center. Further, it provides insurance services for property and casualty coverage, such as workers' compensation, business-owner policies, cyber security protection, and commercial auto, as well as health and benefits coverage, including health, dental, vision, and life. The company markets and sells its services primarily through its direct sales force. Paychex, Inc. was founded in 1971 and is headquartered in Rochester, New York.
IPO Year: 1983
Exchange: NASDAQ
Website: paychex.com
Date | Price Target | Rating | Analyst |
---|---|---|---|
12/22/2023 | $132.00 → $123.00 | Outperform → Market Perform | TD Cowen |
12/14/2023 | $107.00 → $126.00 | Underweight → Equal Weight | Barclays |
11/7/2023 | $120.00 | Neutral | UBS |
9/5/2023 | $130.00 | Sector Perform | RBC Capital Mkts |
6/2/2023 | $115.00 | Neutral | UBS |
4/3/2023 | $119.00 → $105.00 | Neutral → Underperform | BofA Securities |
1/17/2023 | $110.00 | Equal Weight → Underweight | Barclays |
3/9/2022 | $125.00 | Underperform → Neutral | BofA Securities |
1/11/2022 | $130.00 → $145.00 | Market Perform → Outperform | Cowen & Co. |
12/23/2021 | $118.00 → $140.00 | Hold | Stifel |
Hourly earnings growth for small business workers holds steady According to the Paychex Small Business Employment Watch, U.S. employers with fewer than 50 employees continued to add jobs in June, though at a slower pace than in May. Hourly earnings growth for small business workers held steady at 3.16% in June. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240702353654/en/U.S. small businesses continued to add jobs in June, though at a slower pace than May, while wage growth held steady. (Graphic: Business Wire) "Small businesses continued to add jobs across the country in June and there was little change in wage inflation, w
Solid Total Revenue Growth and Operating Margin Expansion Full Year 2024 Diluted EPS Growth of 9%; Adjusted Diluted EPS(1) Growth of 11% Issues Fiscal 2025 Business Outlook Paychex, Inc. (the "Company," "Paychex," "we," "our," or "us") today announced the following results for the fiscal quarter ended May 31, 2024 (the "fourth quarter") and fiscal year ended May 31, 2024 ("fiscal 2024"), as compared to the corresponding prior-year period: Fourth Quarter Fiscal Year In millions, except per share amounts 2024 2023
Paychex, Inc. (NASDAQ:PAYX) will release financial results for its fiscal 2024 fourth quarter and full-year ended May 31, 2024. Paychex will deliver results via Business Wire before the financial markets open on Wednesday, June 26, 2024. The company will host a conference call at 9:30 a.m. ET on Wednesday, June 26, 2024, to review the results for the quarter. Participating in this call will be John Gibson, president and CEO, and Bob Schrader, senior vice president and CFO. The conference call will be available online as a live broadcast on the Paychex Investor Relations portal. Listeners should access the site before the live call to ensure proper configuration. After the live call, an
Weekly earnings growth increases as weekly hours worked stabilize According to the Paychex Small Business Employment Watch, the Small Business Jobs Index rose 0.46 percentage points to 100.58 in May, the largest one-month increase since January 2022. At the same time, hourly earnings growth slowed to 3.13%, its lowest level since June 2021, for workers in U.S. small businesses with fewer than 50 employees. The report also indicated that weekly earnings growth was above three percent (3.09%) for the first time since January 2024 due to positive momentum in weekly hours worked by employees in May. This press release features multimedia. View the full release here: https://www.businesswire.
The SaaS solution was recognized as a Best Core HR/Workforce Solution for the fifth time Paychex, Inc., a leading provider of integrated human capital management software solutions for human resources, employee benefits, insurance services, and payroll, has again received industry recognition for Paychex Flex®, the company's cloud-based SaaS solution. For the fifth consecutive year, Paychex earned an HR Tech Award from Lighthouse Research & Advisory for Best Small Business-focused Solution in the Core HR/Workforce category. According to Lighthouse Research & Advisory data, more than 5,000 providers exist across the HR technology landscape, with more startups emerging daily. The HR Tech
Paychex, Inc. (NASDAQ:PAYX), a leading provider of integrated human capital management software solutions for human resources, employee benefits, insurance services, and payroll, today announced that its Board of Directors approved a quarterly dividend of $0.98 per share, an increase of $0.09 (or 10%) from the prior quarterly dividend of $0.89 per share, payable on May 30, 2024 to shareholders of record as of May 10, 2024. "We are increasing our dividend based on the strong financial position of the company and the healthy free cash flow generation of the business," said John Gibson, Paychex president and CEO. "While we continue to prioritize investing in the long-term growth of the compa
According to the Paychex Small Business Employment Watch, hourly earnings growth increased slightly to 3.34%, ending a nearly two-year trend of deceleration, and job growth slowed in April. U.S. small businesses with fewer than 50 employees continued to add jobs but at a slower pace with the Small Business Jobs Index standing at 100.12. The growth in weekly hours worked for employees also slowed for the 13th consecutive month, down -0.41% in April. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240430349010/en/Small businesses continued to add jobs in April but at a slower pace. Meanwhile, hourly earnings ticked up to 3.34% for
According to the Paychex Small Business Employment Watch, the Small Business Jobs Index grew 0.18 percentage points in March to 100.85 – the first increase year-to-date – but remained below pre-pandemic levels for the first three months of 2024. Hourly earnings growth for workers at U.S. companies with fewer than 50 employees continued a steady deceleration that began in mid-2022, ending March at 3.27% growth year-over-year. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240403444503/en/The Paychex Small Business Employment Watch showed the first increase in small business job growth in three months in March. Hourly earnings for
Paychex, Inc. (the "Company," "Paychex," "we," "our," or "us") today announced the following results for the fiscal quarter ended February 29, 2024 (the "third quarter"), as compared to the corresponding prior-year period: For the three months ended For the nine months ended February 29, February 28, February 29, February 28, In millions, except per share amounts 2024 2023
TROY, Mich., March 28, 2024 /PRNewswire/ -- The Editorial Advisory and Securities Review Committee of BetterInvesting Magazine today announced Paychex Inc. (NYSE:PAYX) as its "Stock to Study" and Pfizer Inc. (NYSE:PFE) as its "Undervalued Stock" in the June/July 2024 issue for investors' informational and educational use. "One of the top stock market stories of the week is the Reddit IPO. While IPOs are always headline-grabbing," said Ken Zendel, chief executive officer of the National Association of Investors Inc., publisher of BetterInvesting, "the BetterInvesting educators remind investors to focus on the fundamentals, such as earnings, of individual companies, whether by using the Stock
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Solid Total Revenue Growth and Operating Margin Expansion Full Year 2024 Diluted EPS Growth of 9%; Adjusted Diluted EPS(1) Growth of 11% Issues Fiscal 2025 Business Outlook Paychex, Inc. (the "Company," "Paychex," "we," "our," or "us") today announced the following results for the fiscal quarter ended May 31, 2024 (the "fourth quarter") and fiscal year ended May 31, 2024 ("fiscal 2024"), as compared to the corresponding prior-year period: Fourth Quarter Fiscal Year In millions, except per share amounts 2024 2023
Paychex, Inc. (NASDAQ:PAYX) will release financial results for its fiscal 2024 fourth quarter and full-year ended May 31, 2024. Paychex will deliver results via Business Wire before the financial markets open on Wednesday, June 26, 2024. The company will host a conference call at 9:30 a.m. ET on Wednesday, June 26, 2024, to review the results for the quarter. Participating in this call will be John Gibson, president and CEO, and Bob Schrader, senior vice president and CFO. The conference call will be available online as a live broadcast on the Paychex Investor Relations portal. Listeners should access the site before the live call to ensure proper configuration. After the live call, an
Paychex, Inc. (NASDAQ:PAYX), a leading provider of integrated human capital management software solutions for human resources, employee benefits, insurance services, and payroll, today announced that its Board of Directors approved a quarterly dividend of $0.98 per share, an increase of $0.09 (or 10%) from the prior quarterly dividend of $0.89 per share, payable on May 30, 2024 to shareholders of record as of May 10, 2024. "We are increasing our dividend based on the strong financial position of the company and the healthy free cash flow generation of the business," said John Gibson, Paychex president and CEO. "While we continue to prioritize investing in the long-term growth of the compa
Paychex, Inc. (the "Company," "Paychex," "we," "our," or "us") today announced the following results for the fiscal quarter ended February 29, 2024 (the "third quarter"), as compared to the corresponding prior-year period: For the three months ended For the nine months ended February 29, February 28, February 29, February 28, In millions, except per share amounts 2024 2023
Paychex, Inc. (NASDAQ:PAYX) today announced that it has changed the date for its previously announced earnings conference call due to a scheduling conflict. The company will now host a conference call at 9:30 a.m. ET on Tuesday, April 2, 2024, to review the results for the quarter. Participating in this call will be John Gibson, president and CEO, and Bob Schrader, senior vice president and CFO. Paychex will release results for the fiscal 2024 third quarter ended February 29, 2024 via Business Wire before the U.S. financial markets open on Tuesday, April 2, 2024. The conference call will be available online as a live broadcast on the Paychex Investor Relations portal. Listeners should a
Paychex, Inc. (NASDAQ:PAYX) will release financial results for its fiscal 2024 third quarter ended February 29, 2024. Paychex will deliver results via Business Wire before the financial markets open on Wednesday, March 27, 2024. The company will host a conference call at 9:30 a.m. ET on Wednesday, March 27, 2024, to review the results for the quarter. Participating in this call will be John Gibson, president and CEO, and Bob Schrader, senior vice president and CFO. The conference call will be available online as a live broadcast on the Paychex Investor Relations portal. Listeners should access the site before the live call to ensure proper configuration. After the live call, an on-deman
Paychex, Inc., a leading provider of integrated human capital management software solutions for human resources, employee benefits, insurance services, and payroll, today announced a quarterly dividend of $.89 per share payable February 27, 2024. The dividend is available to shareholders of record as of February 13, 2024. Paychex also announced that the company's board of directors have authorized the purchase of up to $400 million of its common stock beginning February 1, 2024. The authorization expires May 31, 2027. "For decades, we've been committed to providing both exceptional value for our investors and industry leading experiences for our customers. Today's dividend and stock rep
Sustained Growth in Revenue and Earnings in the Second Quarter Raises Full Year Earnings Outlook Paychex, Inc. (the "Company," "Paychex," "we," "our," or "us") today announced the following results for the fiscal quarter ended November 30, 2023 (the "second quarter"), as compared to the corresponding prior-year period: For the three months ended For the six months ended November 30, November 30, In millions, except per share amounts 2
Paychex, Inc. (NASDAQ:PAYX) will release financial results for its fiscal 2024 second quarter ended November 30, 2023. Paychex will deliver results via Business Wire before the financial markets open on Thursday, December 21, 2023. The Company will host a conference call at 9:30 a.m. ET on Thursday, December 21, 2023, to review the results for the quarter. Participating in this call will be John Gibson, President and CEO, and Bob Schrader, Senior Vice President and CFO. The conference call will be available online as a live broadcast on the Paychex Investor Relations portal. Listeners should access the site before the live call to ensure proper configuration. After the live call, an on-
Today the Board of Directors of Paychex, Inc. (NASDAQ:PAYX) declared a regular quarterly dividend of $.89 per share payable November 28, 2023 to shareholders of record November 14, 2023. About Paychex Paychex, Inc. (NASDAQ:PAYX) is an industry-leading HCM company delivering a full suite of technology and advisory services in human resources, employee benefit solutions, insurance, and payroll. The company serves approximately 740,000 customers in the U.S. and Europe and pays one out of every 12 American private sector employees. The more than 16,000 people at Paychex are committed to helping businesses succeed and building thriving communities where they work and live. To learn more, vis
TD Cowen downgraded Paychex from Outperform to Market Perform and set a new price target of $123.00 from $132.00 previously
Barclays upgraded Paychex from Underweight to Equal Weight and set a new price target of $126.00 from $107.00 previously
UBS initiated coverage of Paychex with a rating of Neutral and set a new price target of $120.00
RBC Capital Mkts initiated coverage of Paychex with a rating of Sector Perform and set a new price target of $130.00
UBS initiated coverage of Paychex with a rating of Neutral and set a new price target of $115.00
BofA Securities downgraded Paychex from Neutral to Underperform and set a new price target of $105.00 from $119.00 previously
Barclays downgraded Paychex from Equal Weight to Underweight and set a new price target of $110.00
BofA Securities upgraded Paychex from Underperform to Neutral and set a new price target of $125.00
Cowen & Co. upgraded Paychex from Market Perform to Outperform and set a new price target of $145.00 from $130.00 previously
Stifel reiterated coverage of Paychex with a rating of Hold and set a new price target of $140.00 from $118.00 previously
Robert L. Schrader, Paychex Vice President of Finance and Investor Relations, to succeed Rivera as CFO effective October 13th Paychex, Inc., a leading provider of integrated human capital management software solutions for human resources, payroll, benefits, and insurance services, announced today that Efrain Rivera, senior vice president and chief financial officer will retire as CFO, effective October 12th, 2023. Rivera will remain as a senior advisor for the remainder of 2023. Robert L. Schrader, currently vice president of Finance and Investor Relations, will be named senior vice president and CFO, effective October 13, 2023. "On behalf of the board of directors, the management team,
Experienced business leader Theresa M. Payton appointed to Paychex Board of Directors ROCHESTER, N.Y., Jan. 24, 2023 /PRNewswire/ -- Paychex, Inc., a leading provider of integrated human capital management software solutions for human resources, payroll, benefits, and insurance services, today announced that the company's Board of Directors has voted to expand to 12 members from 11 members. The Board has also appointed Theresa M. Payton to fill the new position. Ms. Payton is the founder and CEO of Fortalice Solutions, a firm advising Fortune 150 Boards, C-Suite, and regulators on secured technology innovation and transformation efforts regarding customer delivery and privacy.
ROCHESTER, N.Y., Oct. 14, 2022 /PRNewswire/ -- Paychex, Inc., a leading provider of integrated human capital management software solutions for human resources, payroll, benefits, and insurance services, today announced that the company's board of directors has voted to expand from 10 to 11 members. The board has appointed Paychex president and CEO John B. Gibson, Jr. to fill the new position. Gibson is the fourth president and CEO in the 50-year history of Paychex. In addition to his appointment to the board of directors, Gibson will serve on the executive committee of the b
Paychex president and COO John B. Gibson, Jr. to succeed Mucci as CEO Paychex, Inc., a leading provider of integrated human capital management software solutions for human resources, payroll, benefits, and insurance services, announced today that Martin Mucci, chief executive officer and chairman of the board, will retire as CEO, effective October 14th, 2022. Mucci will remain chairman of the company's board of directors. John B. Gibson, Jr., currently president and chief operating officer, will assume the role of president and CEO. "On behalf of the board of directors, the management team, and nearly 16,000 Paychex employees, we want to thank Marty for his tremendous leadership over the
Cloud Software Industry Veteran Michael Haske Succeeds CEO and Co-Founder Olivier Pailhes to Lead Next Chapter of Aircall's Growth Aircall, the business phone system, today announced that Michael Haske will join the company as Chief Executive Officer (CEO) effective September 2, 2022. Haske, previously the President and Chief Operating Officer at Paylocity, will succeed Aircall CEO Olivier Pailhes. Pailhes co-founded Aircall in 2014 and has led the global company to achieve over $1bn valuation and scale to serve more than 13,000 customers in over 100 countries. Pailhes will remain on the board and continue to serve as a strategic advisor to the company. Haske joins Aircall at a pivotal ti
CHICAGO, Aug. 23, 2021 /PRNewswire/ -- Jones Lang LaSalle Incorporated (NYSE:JLL) today announced the appointment of Efrain Rivera as an independent, non-executive member of its Board of Directors effective Oct. 1, 2021. Rivera is currently Senior Vice President, Chief Financial Officer and Treasurer of Paychex, Inc. (NASDAQ:PAYX), a leading provider of integrated human capital management solutions. Previously, Rivera spent 20 years at Bausch & Lomb, a global eye health company, where he held senior management positions, including Corporate Vice President and Chief Financial O
ROCHESTER, N.Y., July 8, 2021 /PRNewswire/ -- Paychex, Inc., the HR software and services company that provides the power of simplicity for increasingly complex workplaces, today announced that the company's Board of Directors has voted to expand to 10 members from 9 members. The Board has appointed Kevin A. Price to fill the new position. Mr. Price is the founder and president of PartsScription™, an innovative ecommerce platform helping national and regional retailers to significantly expand their product and parts capabilities. Mr. Price is an experienced executive and entre
Barclays analyst Ramsey El-Assal maintains Paychex (NASDAQ:PAYX) with a Equal-Weight and lowers the price target from $120 to $118.
Across the recent three months, 9 analysts have shared their insights on Paychex (NASDAQ:PAYX), expressing a variety of opinions spanning from bullish to bearish. The following table encapsulates their recent ratings, offering a glimpse into the evolving sentiments over the past 30 days and comparing them to the preceding months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 0 0 7 2 0 Last 30D 0 0 3 1 0 1M Ago 0 0 0 0 0 2M Ago 0 0 1 0 0 3M Ago 0 0 3 1 0 Analysts' evaluations of 12-month price targets offer additional insights, showcasing an average target of $121.78, with a high estimate of $130.00 and a low estimate of $111.00. This upward t
Morgan Stanley analyst James Faucette maintains Paychex (NASDAQ:PAYX) with a Equal-Weight and lowers the price target from $125 to $122.
RBC Capital analyst Ashish Sabadra reiterates Paychex (NASDAQ:PAYX) with a Sector Perform and maintains $130 price target.
Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our analyst ratings page. Stifel cut the price target for General Mills, Inc. (NYSE:GIS) from $77 to $70. Stifel analyst Matthew Smith maintained a Buy rating. General Mills shares fell 4.6% to close at $64.17 on Wednesday. See how other analysts view this stock. Canaccord Genuity raised the price target for Hut 8 Corp. (NASDAQ:HUT) from $14 to $22. Canaccord Genuity analyst Joseph Vafi maintained a Buy rating. Hut 8 shares gained 4.8% to close at $15.32 on Wednesday. See how other analysts view this stock. Oppenheimer b
Baird analyst Mark Marcon maintains Paychex (NASDAQ:PAYX) with a Neutral and lowers the price target from $126 to $124.
B of A Securities analyst Jason Kupferberg maintains Paychex (NASDAQ:PAYX) with a Underperform and raises the price target from $111 to $113.
Wall Street experienced a mixed session on Wednesday, as investors adopted a cautious stance following Tuesday’s gains while awaiting key economic data releases later this week, including the Fed’s preferred inflation report due on Friday. At noon in New York, major U.S. averages traded flat, showing a lack of direction. Notably, 10 out of 11 sectors in the S&P 500 were in the red, with consumer discretionary being the only sector to post gains. Small caps fell by 0.3%, while blue chips edged up by 0.1%. The semiconductor industry failed to continue its rebound, as the iShares Semiconductor ETF (NYSE:SOXX) dropped 1%, with Nvidia Corp. (NASDAQ:NVDA) down 2%. Treasury yields rose, pa
Payroll services company Paychex, Inc (NASDAQ:PAYX) reported mixed fiscal fourth quarter results. The company reported sales growth of 5% year over year to $1.295 billion, in-line with the analyst consensus estimate of $1.296 billion. Total revenue growth in the fiscal quarter reflected a lower contribution from the company’s Employee Retention Tax Credit (ERTC) Service than the prior year. Management Solutions revenue rose 3% year over year to $930.3 million, led by growth in the number of clients served across the human capital management (HCM) solutions suite and higher product penetration, including HR Solutions and Retirement. Professional Employer Organization (PEO) and Ins
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