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 |
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Paychex, Inc., a leading provider of integrated human capital management software solutions for human resources, employee benefits, insurance services, and payroll, announced today a new premium HR Analytics solution that couples real-time data with generative AI Insights capabilities, providing small- and medium-sized businesses with enterprise-level solutions to help drive more strategic and informed decisions. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20241121139647/en/HR Analytics Premium Plus enables businesses to benchmark workforce data against industry and geographic location data to make more informed and effective d
The company introduces an alternative to traditional loans and credit lines Paychex, Inc., a leading provider of integrated human capital management software solutions for human resources, employee benefits, insurance services, and payroll, has introduced Paychex Funding Solutions to give small- and mid-sized businesses quick access to capital as business needs arise. Paychex Funding Solutions, which includes Paychex companies Advance Partners and Alterna Capital Solutions, provides up-front capital based on a business's assets through invoice factoring. It's a solution for payroll, vendor payments, and growth reinvestment and is available to any business-to-business organization withou
Paychex Small Business Employment Watch also shows the immediate impact of recent hurricanes in Florida and North Carolina The Paychex Small Business Employment Watch reported a national index level of 100.06 for small business job growth in the month of October. The jobs index has averaged 100.29 through the first 10 months of 2024, indicating modest job growth in U.S. small businesses with fewer than 50 employees. At the same time, hourly earnings growth in October was 3.02% and weekly earnings growth remained below three percent for the ninth-straight month, marking its lowest level since August 2021. This press release features multimedia. View the full release here: https://www.busine
Paychex Flex® recognized as a Leader in Digital Payroll Capability and Extended Services Capability Global analyst and research firm NelsonHall has once again recognized Paychex, Inc., a leading provider of integrated human capital management software solutions for human resources, employee benefits, insurance services, and payroll, as a "Leader" in its 2024 Vendor Evaluation and Assessment Tool (NEAT) report for payroll service providers. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20241021539549/en/Paychex Flex® recognized as a Leader in Digital Payroll Capability and Extended Services Capability. (Graphic: Business Wire) Thi
Today the Board of Directors of Paychex, Inc. declared a regular quarterly cash dividend on Paychex common stock of $0.98 per share payable on November 27, 2024 to shareholders of record as of November 7, 2024. 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 over 745,000 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 le
According to the Paychex Small Business Employment Watch for September, which reflects U.S. small businesses with fewer than 50 employees, the national jobs index moderated slightly in September (99.84) but has averaged 100.31 so far in 2024, representing modest employment growth. Hourly earnings growth for workers showed 3.01% in September, while the three-month annualized hourly earnings growth has remained below three percent for the past five months. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20241001649730/en/The national Paychex Small Business Jobs Index moderated slightly in September (99.84) but has averaged 100.31 so f
Sustained Growth in Revenue and Earnings Returned $457 Million to Stockholders Through Dividends and Share Repurchases Launched Several New Digital Solutions Designed to Help Businesses Succeed Paychex, Inc. (the "Company," "Paychex," "we," "our," or "us") today reported results for the fiscal quarter ended August 31, 2024 (the "first quarter"). Results compared with the same period last year were as follows: For the three months ended August 31, August 31, In millions, except per share amounts 2024 2023 Change(2) Total revenue $ 1,318.5 $ 1,286.0 3 % Operating inco
Paychex Recruiting Copilot, provided in partnership with Findem, enables small businesses to find the best-matched candidates for open roles and to hire faster Paychex, Inc., a leading provider of integrated human capital management software solutions for human resources, employee benefits, insurance services, and payroll, has introduced a new AI-assisted recruiting tool for small- and medium-sized business owners and HR professionals. Paychex Recruiting Copilot, provided in partnership with Findem, is an AI talent acquisition solution powered by unique 3D data. This new solution will revolutionize the recruiting and hiring process by enabling Paychex customers to quickly find top talent i
Paychex, Inc. (NASDAQ:PAYX) will release financial results for its fiscal 2025 first quarter ended August 31, 2024. Paychex will deliver results via Business Wire before the financial markets open on Tuesday, October 1, 2024. The company will host a conference call at 9:30 a.m. ET on Tuesday, October 1, 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-demand webc
The Paychex Small Business Employment Watch for August, which reflects U.S. small businesses with fewer than 50 employees, reported hourly earnings growth for workers dropped to 2.89%. This marks the first time growth has been under three percent since January 2021. In addition, the one-month annualized hourly earnings growth dropped to 1.91%. The national small business jobs index has averaged 100.37 through eight months of 2024, representing modest employment growth. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240903840602/en/According to the August Paychex Small Business Employment Watch, national hourly earnings growth is
During times of turbulence and uncertainty in the markets, even when markets are at all-time highs, many investors turn to dividend-yielding stocks. These are often companies that have high free cash flows and reward shareholders with a high dividend payout. Benzinga readers can review the latest analyst takes on their favorite stocks by visiting our Analyst Stock Ratings page. Traders can sort through Benzinga's extensive database of analyst ratings, including by analyst accuracy. Below are the ratings of the most accurate analysts for three high-yielding stocks in the industrials sector. Paychex, Inc. (NASDAQ:PAYX) Dividend Yield: 3.22% Morgan Stanley analyst James Faucett
This whale alert can help traders discover the next big trading opportunities. Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner. Traders will search for circumstances when the market estimation of an option diverges heavily from its normal worth. High amounts of trading activity could push option prices to exaggerated or underestimated levels. Below are some instances of options activity happening in the Industrials sector: Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume AAL PUT TRADE BEARISH 03/21/25 $9.00 $477.0K 7.5K 9.0K EOSE CALL SWEEP BULLISH 12/20/
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
Today the Board of Directors of Paychex, Inc. declared a regular quarterly cash dividend on Paychex common stock of $0.98 per share payable on November 27, 2024 to shareholders of record as of November 7, 2024. 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 over 745,000 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 le
Sustained Growth in Revenue and Earnings Returned $457 Million to Stockholders Through Dividends and Share Repurchases Launched Several New Digital Solutions Designed to Help Businesses Succeed Paychex, Inc. (the "Company," "Paychex," "we," "our," or "us") today reported results for the fiscal quarter ended August 31, 2024 (the "first quarter"). Results compared with the same period last year were as follows: For the three months ended August 31, August 31, In millions, except per share amounts 2024 2023 Change(2) Total revenue $ 1,318.5 $ 1,286.0 3 % Operating inco
Paychex, Inc. (NASDAQ:PAYX) will release financial results for its fiscal 2025 first quarter ended August 31, 2024. Paychex will deliver results via Business Wire before the financial markets open on Tuesday, October 1, 2024. The company will host a conference call at 9:30 a.m. ET on Tuesday, October 1, 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-demand webc
Today the Board of Directors of Paychex, Inc. declared a regular quarterly cash dividend of $0.98 per share payable on August 29, 2024 to shareholders of record as of August 8, 2024. 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 over 745,000 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, visit www.payche
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
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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