Paychex: Difference between revisions

From Wikipedia, the free encyclopedia
Jump to navigation Jump to search
VisualWikitext
imported>49ersBelongInSanFrancisco
URL corrected
 
imported>ReachFloridian
No edit summary
 
Line 32: Line 32:
}}
}}


'''Paychex, Inc.''' is an American company that provides [[human resources]], [[payroll]], and [[employee benefits]] outsourcing services for small- to medium-sized businesses.<ref name=10K/> 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.<ref name=10K/> Paychex is ranked 681st on the [[Fortune 500|''Fortune'' 500]] list of largest corporations by revenue.<ref>{{cite news |title=Paychex |url=https://fortune.com/company/paychex/fortune500/ |work=Fortune | url-access=subscription}}</ref>
'''Paychex, Inc.''' is an American company that provides [[human resources]], [[payroll]], and [[employee benefits]] outsourcing services for small- to medium-sized businesses.<ref name=10K/> Founded in 1971 and headquartered in [[Rochester, New York]],<ref name=Forbes>{{cite news |title=Paychex (PAYX) |url=https://www.forbes.com/companies/paychex/#7a1284c94826 |access-date=9 September 2020 |work=Forbes |language=en}}</ref> the company has more than 100 offices serving approximately 740,000 payroll clients in the U.S. and Europe.<ref name=10K/> Paychex is ranked 681st on the [[Fortune 500|''Fortune'' 500]] list of largest corporations by revenue.<ref>{{cite news |title=Paychex |url=https://fortune.com/company/paychex/fortune500/ |work=Fortune | url-access=subscription}}</ref>


==History==
==History==
Line 39: Line 39:
The operation grew to include 18 franchises and partnerships, which were eventually consolidated into one private company in 1979. In 1983, the company (ticker symbol: PAYX) became a [[public company]] via an [[initial public offering]].<ref>{{cite web |title=Paychex, Inc. History |url=http://www.fundinguniverse.com/company-histories/paychex-inc-history/ |access-date=31 August 2020 |website=FundingUniverse}}</ref><ref>{{cite news |date=11 October 1999 |title=Servicers |url=https://www.forbes.com/forbes/1999/1011/6409364a.html#3e0389c11aad |access-date=31 August 2020 |work=[[Forbes]] |language=en}}</ref>
The operation grew to include 18 franchises and partnerships, which were eventually consolidated into one private company in 1979. In 1983, the company (ticker symbol: PAYX) became a [[public company]] via an [[initial public offering]].<ref>{{cite web |title=Paychex, Inc. History |url=http://www.fundinguniverse.com/company-histories/paychex-inc-history/ |access-date=31 August 2020 |website=FundingUniverse}}</ref><ref>{{cite news |date=11 October 1999 |title=Servicers |url=https://www.forbes.com/forbes/1999/1011/6409364a.html#3e0389c11aad |access-date=31 August 2020 |work=[[Forbes]] |language=en}}</ref>


===Acquisitions===
Paychex acquired Pay-Fone in 1995.<ref>{{cite web|title=Pay-Fone Systems to Be Sold for $10.5 Million in Stock|url=https://www.latimes.com/archives/la-xpm-1995-03-21-fi-45325-story.html|website=LA Times}}</ref> In 1996, the company acquired Olsen Computer Systems<ref>{{cite news |date=22 November 1996 |title=Paychex Acquires Olsen |url=https://www.latimes.com/archives/la-xpm-1996-11-22-fi-1681-story.html |url-access=limited |work=[[Los Angeles Times]]}}</ref> and National Business Systems.<ref>{{cite news |date=26 June 1996 |title=Company News; Paychex Plans to Buy National Business Solutions |url=https://www.nytimes.com/1996/06/26/business/company-news-paychex-plans-to-buy-national-business-solutions.html |url-access=registration |url-status=live |archive-url=https://archive.today/20250321021939/https://www.nytimes.com/1996/06/26/business/company-news-paychex-plans-to-buy-national-business-solutions.html |archive-date=March 21, 2025 |work=[[The New York Times]] |pages=D4 |agency=[[Bloomberg News]]}}</ref>
{| class="wikitable"
|-  
! Company
! Year
! Price
! Ref(s)
|-  
| Pay-Fone
| 1995
| Undisclosed
|
|-
| Payday
| 1995
| Undisclosed
|
|-
| Olsen Computer Systems, Inc.
| 1996
| Undisclosed
|<ref>{{cite news |date=22 November 1996 |title=Paychex Acquires Olsen |url=https://www.latimes.com/archives/la-xpm-1996-11-22-fi-1681-story.html |url-access=limited |work=[[Los Angeles Times]]}}</ref>
|-
| National Business Solutions
| 1996
| $142.5 million
|<ref>{{cite news |date=26 June 1996 |title=Company News; Paychex Plans to Buy National Business Solutions |url=https://www.nytimes.com/1996/06/26/business/company-news-paychex-plans-to-buy-national-business-solutions.html |url-access=registration |url-status=live |archive-url=https://archive.today/20250321021939/https://www.nytimes.com/1996/06/26/business/company-news-paychex-plans-to-buy-national-business-solutions.html |archive-date=March 21, 2025 |work=[[The New York Times]] |pages=D4 |agency=[[Bloomberg News]]}}</ref>
|-
| Advantage Payroll Services, Inc.
| 2002
| $240 million
|<ref>{{cite news |date=19 September 2002 |title=Company News; Paychex to Buy Advantage Payroll for $240 Million |url=https://www.nytimes.com/2002/09/19/business/company-news-paychex-to-buy-advantage-payroll-for-240-million.html |url-access=limited |url-status=live |archive-url=https://archive.today/20250321022331/https://www.nytimes.com/2002/09/19/business/company-news-paychex-to-buy-advantage-payroll-for-240-million.html |archive-date=March 21, 2025 |work=[[The New York Times]] |pages=C4 |agency=[[Bloomberg News]]}}</ref>
|-
| InterPay Inc.
| 2003
| $155 million
|<ref>{{cite web |date=17 March 2003 |title=Paychex to acquire rival InterPay |url=https://www.bizjournals.com/albany/stories/2003/03/17/daily6.html |url-access=subscription |url-status=live |archive-url=https://archive.today/20250321022607/https://www.bizjournals.com/albany/stories/2003/03/17/daily6.html |archive-date=March 21, 2025 |work=[[American City Business Journals]]}}</ref>
|-
| Time In A Box product from Stromberg
| 2003
| Undisclosed
|<ref>{{cite news |date=16 October 2003 |title=Paychex Acquires Product Line From Stromberg |url=https://www.accountingtoday.com/news/paychex-acquires-product-line-from-stromberg |url-access=registration |work=Accounting Today}}</ref>
|-
| Stromberg
| 2004
| Undisclosed
|<ref>{{cite web |title=Paychex Completes Acquisition of Stromberg |url=https://www.accountingtoday.com/news/paychex-completes-acquisition-of-stromberg |website=Accounting Today  |date=14 April 2004}}</ref><ref>{{Cite news |last=Smith |first=David A. |date=14 April 2004 |title=Lake Mary, Fla.-Based Software Company Sold to Rochester, N.Y.-Based Paychex. |url=https://link.gale.com/apps/doc/A118293608/STND?u=txshrpub100020&sid=bookmark-STND&xid=63b0a884 |access-date=20 March 2025 |work=[[Republican-American]]}}</ref>
|-
| Hawthorne Benefit Technologies
| 2007
| Undisclosed
|<ref>{{cite news |date=13 September 2007 |title=Paychex announces acquisition of BeneTrac |url=https://www.reuters.com/article/idUSIN20070913110059PAYX20070913 |work=[[Reuters]]}}</ref>
|-
| SurePayroll, Inc.
| 2010
| $115 million
|<ref>{{cite news |last1=Yue |first1=Lorene |date=13 December 2010 |title=SurePayroll bought by rival Paychex for $115M |url=https://www.chicagobusiness.com/article/20101213/NEWS07/101219971/surepayroll-bought-by-rival-paychex-for-115m |url-access=subscription |url-status=live |archive-url=https://archive.today/20120722130748/http://www.chicagobusiness.com/article/20101213/NEWS07/101219971/surepayroll-bought-by-rival-paychex-for-115m#selection-619.1-616.1 |archive-date=22 July 2012 |work=[[Crain's Chicago Business]]}}</ref>
|-
| ePlan Services, Inc.
| 2011
| Undisclosed
|<ref>{{cite news |last1= |first1= |date=23 May 2011 |title=Paychex Gains From EPlan Deal, But Stock Still Too Rich |url=https://www.forbes.com/sites/greatspeculations/2011/05/23/paychex-gains-from-eplan-deal-but-stock-still-too-rich/#50a523082af7 |work=[[Forbes]]}}</ref><ref>{{Cite news |date=3 May 2011 |title=Paychex Acquires ePlan Services |url=https://link.gale.com/apps/doc/A255239941/ITOF?u=txshrpub100020&sid=bookmark-ITOF&xid=37b7b289 |access-date=20 March 2025 |work=[[Business Wire]]}}</ref>
|-
| Icon Time Systems
| 2012
| Undisclosed
|<ref>{{cite news |last1=Dougherty |first1=Nate |title=Paychex acquires Icon Time Systems |url=https://rbj.net/2012/01/09/paychex-acquires-icon-time-systems/  |work=Rochester Business Journal |date=9 January 2012}}</ref>
|-
| ExpenseWire
| 2012
| Undisclosed
| <ref>{{Cite web |last=Treadway |first=Clint |date=2012-12-03 |title=Paychex Acquires ExpenseWire |url=https://www.cpapracticeadvisor.com/2012/12/03/paychex-acquires-expensewire/8947/ |access-date=2025-01-23 |website=CPA Practice Advisor |language=en-US}}</ref>
|-
| myStaffingPro
| 2013
| Undisclosed
| <ref>{{Cite press release |title=Paychex Announces Acquisition of myStaffingPro |date=June 12, 2013 |publisher=[[Business Wire]] |url=https://www.businesswire.com/news/home/20130612005864/en/Paychex-Announces-Acquisition-of-myStaffingPro |archive-url=https://web.archive.org/web/20250304001056/https://www.businesswire.com/news/home/20130612005864/en/Paychex-Announces-Acquisition-of-myStaffingPro |archive-date=4 March 2025}}</ref>
|-
| NETtime solutions
| 2014
| Undisclosed
|<ref>{{cite news |last1= |first1= |date=19 June 2014 |title=Paychex Expands Its Software-As-A-Service Based Solutions By Acquiring Nettime |url=https://www.forbes.com/sites/greatspeculations/2014/06/19/paychex-expands-its-software-as-a-service-based-solutions-by-acquiring-nettime/#28ca760c6b99 |url-access=limited |url-status=live |archive-url=https://archive.today/20250321024427/https://www.forbes.com/sites/greatspeculations/2014/06/19/paychex-expands-its-software-as-a-service-based-solutions-by-acquiring-nettime/ |archive-date=March 21, 2025 |work=[[Forbes]]}}</ref>
|-
| Advance Partners
| 2015
| Undisclosed
| <ref>{{cite news |date=23 December 2015 |title=Paychex (PAYX) Completes Advance Partners Acquisition |url=https://www.nasdaq.com/articles/paychex-payx-completes-advance-partners-acquisition-2015-12-23 |work=[[Nasdaq]]}}</ref>
|-
| Human Resources Outsourcing, Inc.
| 2017
| Undisclosed
| <ref>{{cite news |title=Paychex acquires HR Outsourcing, Inc. |url=https://www.rochesterfirst.com/news/local-news/paychex-acquires-hr-outsourcing-inc  |work=RochesterFirst |date=21 August 2017}}</ref>
|-
| Lessor Group
| 2018
| Undisclosed
| <ref>{{cite news |last1=Fanelli |first1=Gino |title=Paychex acquires Lessor Group |url=https://rbj.net/2018/03/01/paychex-acquires-lessor-group/ |work=Rochester Business Journal |date=1 March 2018}}</ref>
|-
| Oasis
| 2018
| $1.2 billion
| <ref>{{cite news |date=21 December 2018 |title=Paychex Acquires Oasis Outsourcing for $1.2 Billion |url=https://www.wsj.com/articles/paychex-acquires-oasis-outsourcing-for-1-2-billion-11545429653 |url-access=subscription |url-status=live |archive-url=https://archive.today/20240511100315/https://www.wsj.com/articles/paychex-acquires-oasis-outsourcing-for-1-2-billion-11545429653 |archive-date=11 May 2024 |work=[[The Wall Street Journal]] |department=Private Equity}}</ref><ref>{{cite news |last1=Prang |first1=Allison |date=26 November 2018 |title=Paychex to Buy Human-Resources Firm Oasis for $1.2 Billion |url=https://www.wsj.com/articles/paychex-to-buy-human-resources-firm-oasis-for-1-2-billion-1543244838 |url-access=subscription |work=[[The Wall Street Journal]] |department=Business}}</ref><ref>{{cite news |last=Banerjee |first=Arunima |date=26 November 2018 |editor-last=Dasgupta |editor-first=Shounak |title=Paychex to buy outsourcing firm Oasis for $1.2 billion |url=https://www.reuters.com/article/us-oasis-m-a-paychex/paychex-to-buy-outsourcing-firm-oasis-for-1-2-billion-idUSKCN1NV1SC |work=[[Reuters]]}}</ref><ref>{{cite news |last=Bandell |first=Brian |date=27 November 2018 |title=Oasis Outsourcing to be acquired by PayChex |url=https://www.bizjournals.com/southflorida/news/2018/11/27/oasis-outsourcing-to-be-acquired-by-public-company.html |url-access=subscription |url-status=live |archive-url=https://archive.today/20230404203758/https://www.bizjournals.com/southflorida/news/2018/11/27/oasis-outsourcing-to-be-acquired-by-public-company.html |archive-date=4 April 2023 |work=South Florida Business Journal |department=Professional Services}}</ref>
|-
| [[Paycor]]
| 2025
| $4.1 billion
| <ref>{{Cite news |last=Ojea |first=Sabela |date=7 January 2025 |title=Paychex to Acquire Competitor Paycor HCM |url=https://www.wsj.com/finance/investing/paychex-to-acquire-competitor-paycor-hcm-1b57567d |url-access=subscription |access-date=2025-03-21 |work=[[The Wall Street Journal]] |department=Markets & Finance, Investing |language=en-US}}</ref><ref>{{Cite news |last=G |first=Priyanka |date=7 January 2025 |title=Paychex to buy rival Paycor in $4.1 bln deal to expand AI-driven HR products |url=https://www.reuters.com/markets/deals/paychex-buy-payroll-firm-paycor-41-bln-deal-2025-01-07/ |access-date=20 March 2025 |work=[[Reuters]] |language=en-US}}</ref><ref>{{Cite news |last=Pethe |first=Shrilekha |date=7 January 2025 |title=M&A News: Paychex (NASDAQ:PAYX) Will Acquire PYCR for $4.1B |url=https://www.nasdaq.com/articles/ma-news-paychex-nasdaq-payx-will-acquire-pycr-41b |access-date=20 March 2025 |work=TipRanks |department=Stocks |language=en-US}}</ref>
|}


===Small Business Employment Watch===
Between 2002 and 2003, it acquired Advantage Payroll Services,<ref>{{cite news |date=19 September 2002 |title=Company News; Paychex to Buy Advantage Payroll for $240 Million |url=https://www.nytimes.com/2002/09/19/business/company-news-paychex-to-buy-advantage-payroll-for-240-million.html |url-access=limited |url-status=live |archive-url=https://archive.today/20250321022331/https://www.nytimes.com/2002/09/19/business/company-news-paychex-to-buy-advantage-payroll-for-240-million.html |archive-date=March 21, 2025 |work=[[The New York Times]] |pages=C4 |agency=[[Bloomberg News]]}}</ref> Interpay,<ref>{{cite web |date=17 March 2003 |title=Paychex to acquire rival InterPay |url=https://www.bizjournals.com/albany/stories/2003/03/17/daily6.html |url-access=subscription |url-status=live |archive-url=https://archive.today/20250321022607/https://www.bizjournals.com/albany/stories/2003/03/17/daily6.html |archive-date=March 21, 2025 |work=[[American City Business Journals]]}}</ref> and Time in a Box,<ref>{{cite news |date=16 October 2003 |title=Paychex Acquires Product Line From Stromberg |url=https://www.accountingtoday.com/news/paychex-acquires-product-line-from-stromberg |url-access=registration |work=Accounting Today}}</ref> followed by Time in a Box's parent Stromberg in 2004.<ref>{{cite web |title=Paychex Completes Acquisition of Stromberg |url=https://www.accountingtoday.com/news/paychex-completes-acquisition-of-stromberg |website=Accounting Today  |date=14 April 2004}}</ref><ref>{{Cite news |last=Smith |first=David A. |date=14 April 2004 |title=Lake Mary, Fla.-Based Software Company Sold to Rochester, N.Y.-Based Paychex. |url=https://link.gale.com/apps/doc/A118293608/STND?u=txshrpub100020&sid=bookmark-STND&xid=63b0a884 |access-date=20 March 2025 |work=[[Republican-American]]}}</ref>
Paychex and [[IHS Markit]] launched a Small Business Jobs Index in 2014 that measures the  health of businesses employing 50 people or less.<ref>{{cite news |last1=Karol |first1=Gabrielle |date=9 January 2016 |title=Paychex, IHS Launch Small Business Jobs Index |url=https://www.foxbusiness.com/features/paychex-ihs-launch-small-business-jobs-index |access-date=5 September 2020 |work=[[Fox Business]]}}</ref>
 
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|reason=Independent citation needed|date=September 2020}}<ref>{{cite web |title=Small Business Employment Watch provided by Paychex {{!}} IHS Markit |url=https://www.paychex.com/employment-watch/#!/jobs-index/ |website=www.paychex.com |access-date=5 September 2020 |language=en}}{{Self-published source|date=September 2020}}</ref>
The company purchased Hawthorne Benefit Technologies in 2007,<ref>{{cite news |date=13 September 2007 |title=Paychex announces acquisition of BeneTrac |url=https://www.reuters.com/article/idUSIN20070913110059PAYX20070913 |work=[[Reuters]]}}</ref>, SurePayroll, Inc. in 2010,<ref>{{cite news |last1=Yue |first1=Lorene |date=13 December 2010 |title=SurePayroll bought by rival Paychex for $115M |url=https://www.chicagobusiness.com/article/20101213/NEWS07/101219971/surepayroll-bought-by-rival-paychex-for-115m |url-access=subscription |url-status=live |archive-url=https://archive.today/20120722130748/http://www.chicagobusiness.com/article/20101213/NEWS07/101219971/surepayroll-bought-by-rival-paychex-for-115m#selection-619.1-616.1 |archive-date=22 July 2012 |work=[[Crain's Chicago Business]]}}</ref> and ePlan Services in 2011.<ref>{{cite news |last1= |first1= |date=23 May 2011 |title=Paychex Gains From EPlan Deal, But Stock Still Too Rich |url=https://www.forbes.com/sites/greatspeculations/2011/05/23/paychex-gains-from-eplan-deal-but-stock-still-too-rich/#50a523082af7 |work=[[Forbes]]}}</ref><ref>{{Cite news |date=3 May 2011 |title=Paychex Acquires ePlan Services |url=https://link.gale.com/apps/doc/A255239941/ITOF?u=txshrpub100020&sid=bookmark-ITOF&xid=37b7b289 |access-date=20 March 2025 |work=[[Business Wire]]}}</ref> It Icon Time Systems<ref>{{cite news |last1=Dougherty |first1=Nate |title=Paychex acquires Icon Time Systems |url=https://rbj.net/2012/01/09/paychex-acquires-icon-time-systems/  |work=Rochester Business Journal |date=9 January 2012}}</ref> and ExpenseWire in 2012 for an undisclosed amount.<ref>{{Cite web |last=Treadway |first=Clint |date=2012-12-03 |title=Paychex Acquires ExpenseWire |url=https://www.cpapracticeadvisor.com/2012/12/03/paychex-acquires-expensewire/8947/ |access-date=2025-01-23 |website=CPA Practice Advisor |language=en-US}}</ref> Between 2013 and 2017, it purchased myStaffingPro<ref>{{Cite press release |title=Paychex Announces Acquisition of myStaffingPro |date=June 12, 2013 |publisher=[[Business Wire]] |url=https://www.businesswire.com/news/home/20130612005864/en/Paychex-Announces-Acquisition-of-myStaffingPro |archive-url=https://web.archive.org/web/20250304001056/https://www.businesswire.com/news/home/20130612005864/en/Paychex-Announces-Acquisition-of-myStaffingPro |archive-date=4 March 2025}}</ref> NETtime solutions<ref>{{cite news |last1= |first1= |date=19 June 2014 |title=Paychex Expands Its Software-As-A-Service Based Solutions By Acquiring Nettime |url=https://www.forbes.com/sites/greatspeculations/2014/06/19/paychex-expands-its-software-as-a-service-based-solutions-by-acquiring-nettime/#28ca760c6b99 |url-access=limited |url-status=live |archive-url=https://archive.today/20250321024427/https://www.forbes.com/sites/greatspeculations/2014/06/19/paychex-expands-its-software-as-a-service-based-solutions-by-acquiring-nettime/ |archive-date=March 21, 2025 |work=[[Forbes]]}}</ref> Advance Partners,<ref>{{cite news |date=23 December 2015 |title=Paychex (PAYX) Completes Advance Partners Acquisition |url=https://www.nasdaq.com/articles/paychex-payx-completes-advance-partners-acquisition-2015-12-23 |work=[[Nasdaq]]}}</ref> and Human Resources Outsourcing, Inc.<ref>{{cite news |title=Paychex acquires HR Outsourcing, Inc. |url=https://www.rochesterfirst.com/news/local-news/paychex-acquires-hr-outsourcing-inc  |work=RochesterFirst |date=21 August 2017}}</ref>
The Employment Watch is frequently used by financial experts, analysts, and journalists assessing the economic outlook.<ref>{{cite news |last1=Carney |first1=John |date=30 June 2015 |title=Don't Look for Paychex to Bounce |url=https://www.wsj.com/articles/dont-look-for-paychex-to-bounce-1435687562 |url-access=subscription |url-status=live |archive-url=https://archive.today/20240719203018/https://www.wsj.com/articles/dont-look-for-paychex-to-bounce-1435687562 |archive-date=19 July 2024 |access-date=5 September 2020 |work=[[The Wall Street Journal]]}}</ref>
 
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.<ref>{{cite news |last1=Clifford |first1=Tyler |date=2 October 2019 |title=Paychex CEO tells Jim Cramer that small business hiring picked up in September despite slowdown worries |url=https://www.cnbc.com/2019/10/02/paychex-ceo-small-business-hiring-picked-up-despite-slowdown-worries.html |access-date=5 September 2020 |work=[[CNBC]] |language=en}}</ref>
Rochester Democrat and Chronicle named Paychex one of the Best Places to Work in [[Rochester, New York|Rochester]] in 2016.<ref>{{cite web |title=Top Workplaces {{!}} The Democrat and Chronicle |url=https://topworkplaces.com/publication/rochester/ |website=Top Workplaces |access-date=9 September 2020}}</ref>
 
It acquired Lessor Group 2018.<ref>{{cite news |last1=Fanelli |first1=Gino |title=Paychex acquires Lessor Group |url=https://rbj.net/2018/03/01/paychex-acquires-lessor-group/ |work=Rochester Business Journal |date=1 March 2018}}</ref> That year it also acquired Oasis for a reported $1.2 billion.<ref>{{cite news |date=21 December 2018 |title=Paychex Acquires Oasis Outsourcing for $1.2 Billion |url=https://www.wsj.com/articles/paychex-acquires-oasis-outsourcing-for-1-2-billion-11545429653 |url-access=subscription |url-status=live |archive-url=https://archive.today/20240511100315/https://www.wsj.com/articles/paychex-acquires-oasis-outsourcing-for-1-2-billion-11545429653 |archive-date=11 May 2024 |work=[[The Wall Street Journal]] |department=Private Equity}}</ref><ref>{{cite news |last1=Prang |first1=Allison |date=26 November 2018 |title=Paychex to Buy Human-Resources Firm Oasis for $1.2 Billion |url=https://www.wsj.com/articles/paychex-to-buy-human-resources-firm-oasis-for-1-2-billion-1543244838 |url-access=subscription |work=[[The Wall Street Journal]] |department=Business}}</ref><ref>{{cite news |last=Banerjee |first=Arunima |date=26 November 2018 |editor-last=Dasgupta |editor-first=Shounak |title=Paychex to buy outsourcing firm Oasis for $1.2 billion |url=https://www.reuters.com/article/us-oasis-m-a-paychex/paychex-to-buy-outsourcing-firm-oasis-for-1-2-billion-idUSKCN1NV1SC |work=[[Reuters]]}}</ref><ref>{{cite news |last=Bandell |first=Brian |date=27 November 2018 |title=Oasis Outsourcing to be acquired by PayChex |url=https://www.bizjournals.com/southflorida/news/2018/11/27/oasis-outsourcing-to-be-acquired-by-public-company.html |url-access=subscription |url-status=live |archive-url=https://archive.today/20230404203758/https://www.bizjournals.com/southflorida/news/2018/11/27/oasis-outsourcing-to-be-acquired-by-public-company.html |archive-date=4 April 2023 |work=South Florida Business Journal |department=Professional Services}}</ref>
 
In 2019, Paychex was named to the ''[[Fortune (magazine)|Fortune]]'' list of Future 50 companies.<ref>{{cite news |title=Paychex |url=https://fortune.com/future-50/2019/paychex/ |access-date=9 September 2020 |work=Fortune |language=en}}</ref>
 
John Gibson has been CEO of Paychex since October 2022.<ref>{{cite web |title=Paychex Names John Gibson As New CEO; Martin Mucci To Remain As Chairman |url=https://www.nasdaq.com/articles/paychex-names-john-gibson-as-new-ceo-martin-mucci-to-remain-as-chairman |access-date=23 June 2023 |website=[[Nasdaq]]}}</ref><ref>{{Cite news |last=Deckert |first=Andrea |date=14 October 2022 |title=Paychex expands board with addition of Gibson as new CEO. |url=https://rbj.net/2022/10/14/paychex-expands-board-with-addition-of-new-ceo-gibson/ |access-date=20 March 2025 |work=Rochester Business Journal}}</ref>
 
The company generated $5.2 billion in revenue and $13 billion in assets in 2024.<ref name=Forbes />


===Awards and honors===
In 2025, it acquired [[Paycor]] for $4.1 billion<ref>{{Cite news |last=Ojea |first=Sabela |date=7 January 2025 |title=Paychex to Acquire Competitor Paycor HCM |url=https://www.wsj.com/finance/investing/paychex-to-acquire-competitor-paycor-hcm-1b57567d |url-access=subscription |access-date=2025-03-21 |work=[[The Wall Street Journal]] |department=Markets & Finance, Investing |language=en-US}}</ref><ref>{{Cite news |last=G |first=Priyanka |date=7 January 2025 |title=Paychex to buy rival Paycor in $4.1 bln deal to expand AI-driven HR products |url=https://www.reuters.com/markets/deals/paychex-buy-payroll-firm-paycor-41-bln-deal-2025-01-07/ |access-date=20 March 2025 |work=[[Reuters]] |language=en-US}}</ref><ref>{{Cite news |last=Pethe |first=Shrilekha |date=7 January 2025 |title=M&A News: Paychex (NASDAQ:PAYX) Will Acquire PYCR for $4.1B |url=https://www.nasdaq.com/articles/ma-news-paychex-nasdaq-payx-will-acquire-pycr-41b |access-date=20 March 2025 |work=TipRanks |department=Stocks |language=en-US}}</ref>
*Paychex named to HR Examiner's 2020 Watchlist for the use of [[artificial intelligence|AI]] in HR<ref>{{cite web |last1=Sumser |first1=John |title=The HRExaminer 2020 Watchlist: Paychex – Payroll and Basic HR Services |url=https://www.hrexaminer.com/the-hrexaminer-2020-watchlist-paychex-payroll-and-basic-hr-services/ |archive-url=https://web.archive.org/web/20240810101836/https://www.hrexaminer.com/the-hrexaminer-2020-watchlist-paychex-payroll-and-basic-hr-services/ |archive-date=10 August 2024 |access-date=9 September 2020 |website=HR Examiner}}</ref>
*In 2019, Paychex was named to the [[Fortune (magazine)|FORTUNE]] list of Future 50 companies<ref>{{cite news |title=Paychex |url=https://fortune.com/future-50/2019/paychex/ |access-date=9 September 2020 |work=Fortune |language=en}}</ref>
*Paychex was listed as number 211 on [[Forbes]] 2019 list of the World's Best<ref name=Forbes>{{cite news |title=Paychex (PAYX) |url=https://www.forbes.com/companies/paychex/#7a1284c94826 |access-date=9 September 2020 |work=Forbes |language=en}}</ref>
*In 2018, Paychex was named one of the World's Most Ethical Companies by [[Ethisphere Institute|Ethisphere]] for an 11th time<ref>{{cite web |title=Honorees 2020 |url=https://www.worldsmostethicalcompanies.com/honorees/ |website=Ethisphere® Institute {{!}} Good. Smart. Business. Profit.® |access-date=9 September 2020}}</ref>
*In 2018, [[Forbes]] placed Paychex at number 76 on their list of the World's Most Innovative Companies<ref name=Forbes />
*Rochester Democrat and Chronicle named Paychex one of the Best Places to Work in [[Rochester, New York|Rochester]] in 2016<ref>{{cite web |title=Top Workplaces {{!}} The Democrat and Chronicle |url=https://topworkplaces.com/publication/rochester/ |website=Top Workplaces |access-date=9 September 2020}}</ref>
*Paychex Flex received the 2016 TekTonic Award from HRO Magazine for being a best-in-class mobile and cloud-based technology suite<ref>{{cite web |last1=Roth |first1=Audrey |title=2016 TekTonic Award Winners |url=https://www.hrotoday.com/news/enabling-technology/2016-tektonic-award-winners/ |website=HRO Today |access-date=9 September 2020 |date=8 June 2016}}</ref>


===Chief executives===
===Small Business Employment Watch===
{| class="wikitable"
Paychex and [[IHS Markit]] launched a Small Business Jobs Index in 2014 that measures the  health of businesses employing 50 people or less.<ref>{{cite news |last1=Karol |first1=Gabrielle |date=9 January 2016 |title=Paychex, IHS Launch Small Business Jobs Index |url=https://www.foxbusiness.com/features/paychex-ihs-launch-small-business-jobs-index |access-date=5 September 2020 |work=[[Fox Business]]}}</ref> The IHS Markit Small Business Employment Watch shares small business jobs data beginning 2005 and wage data from 2011.{{Citation needed|reason=Independent citation needed|date=September 2020}}<ref>{{cite web |title=Small Business Employment Watch provided by Paychex {{!}} IHS Markit |url=https://www.paychex.com/employment-watch/#!/jobs-index/ |website=www.paychex.com |access-date=5 September 2020 |language=en}}{{Self-published source|date=September 2020}}</ref> The Employment Watch is frequently used by financial experts, analysts, and journalists assessing the economic outlook.<ref>{{cite news |last1=Carney |first1=John |date=30 June 2015 |title=Don't Look for Paychex to Bounce |url=https://www.wsj.com/articles/dont-look-for-paychex-to-bounce-1435687562 |url-access=subscription |url-status=live |archive-url=https://archive.today/20240719203018/https://www.wsj.com/articles/dont-look-for-paychex-to-bounce-1435687562 |archive-date=19 July 2024 |access-date=5 September 2020 |work=[[The Wall Street Journal]]}}</ref>
|-
! 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<ref>{{cite web |title=Paychex Names John Gibson As New CEO; Martin Mucci To Remain As Chairman |url=https://www.nasdaq.com/articles/paychex-names-john-gibson-as-new-ceo-martin-mucci-to-remain-as-chairman |access-date=23 June 2023 |website=[[Nasdaq]]}}</ref><ref>{{Cite news |last=Deckert |first=Andrea |date=14 October 2022 |title=Paychex expands board with addition of Gibson as new CEO. |url=https://rbj.net/2022/10/14/paychex-expands-board-with-addition-of-new-ceo-gibson/ |access-date=20 March 2025 |work=Rochester Business Journal}}</ref>
|}


==References==
==References==

Latest revision as of 22:12, 10 June 2025

Template:Short description Template:Pp-semi-indef Template:Use mdy dates Script error: No such module "Infobox".Template:Template otherTemplate:Main otherScript error: No such module "Check for clobbered parameters".Script error: No such module "Check for unknown parameters".

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,[2] 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.[3]

History

Paychex was founded in 1971 by Tom Golisano, who started the company with only $3,000.[4][5]

The operation grew to include 18 franchises and partnerships, which were eventually consolidated into one private company in 1979. In 1983, the company (ticker symbol: PAYX) became a public company via an initial public offering.[6][7]

Paychex acquired Pay-Fone in 1995.[8] In 1996, the company acquired Olsen Computer Systems[9] and National Business Systems.[10]

Between 2002 and 2003, it acquired Advantage Payroll Services,[11] Interpay,[12] and Time in a Box,[13] followed by Time in a Box's parent Stromberg in 2004.[14][15]

The company purchased Hawthorne Benefit Technologies in 2007,[16], SurePayroll, Inc. in 2010,[17] and ePlan Services in 2011.[18][19] It Icon Time Systems[20] and ExpenseWire in 2012 for an undisclosed amount.[21] Between 2013 and 2017, it purchased myStaffingPro[22] NETtime solutions[23] Advance Partners,[24] and Human Resources Outsourcing, Inc.[25]

Rochester Democrat and Chronicle named Paychex one of the Best Places to Work in Rochester in 2016.[26]

It acquired Lessor Group 2018.[27] That year it also acquired Oasis for a reported $1.2 billion.[28][29][30][31]

In 2019, Paychex was named to the Fortune list of Future 50 companies.[32]

John Gibson has been CEO of Paychex since October 2022.[33][34]

The company generated $5.2 billion in revenue and $13 billion in assets in 2024.[2]

In 2025, it acquired Paycor for $4.1 billion[35][36][37]

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.[38] The IHS Markit Small Business Employment Watch shares small business jobs data beginning 2005 and wage data from 2011.Script error: No such module "Unsubst".[39] The Employment Watch is frequently used by financial experts, analysts, and journalists assessing the economic outlook.[40]

References

  1. ↑ a b Cite error: Invalid <ref> tag; no text was provided for refs named 10K
  2. ↑ a b Script error: No such module "citation/CS1".
  3. ↑ Script error: No such module "citation/CS1".
  4. ↑ Script error: No such module "citation/CS1".
  5. ↑ Script error: No such module "citation/CS1".
  6. ↑ Script error: No such module "citation/CS1".
  7. ↑ Script error: No such module "citation/CS1".
  8. ↑ Script error: No such module "citation/CS1".
  9. ↑ Script error: No such module "citation/CS1".
  10. ↑ Script error: No such module "citation/CS1".
  11. ↑ Script error: No such module "citation/CS1".
  12. ↑ Script error: No such module "citation/CS1".
  13. ↑ Script error: No such module "citation/CS1".
  14. ↑ Script error: No such module "citation/CS1".
  15. ↑ Script error: No such module "citation/CS1".
  16. ↑ Script error: No such module "citation/CS1".
  17. ↑ Script error: No such module "citation/CS1".
  18. ↑ Script error: No such module "citation/CS1".
  19. ↑ Script error: No such module "citation/CS1".
  20. ↑ Script error: No such module "citation/CS1".
  21. ↑ Script error: No such module "citation/CS1".
  22. ↑ Script error: No such module "citation/CS1".
  23. ↑ Script error: No such module "citation/CS1".
  24. ↑ Script error: No such module "citation/CS1".
  25. ↑ Script error: No such module "citation/CS1".
  26. ↑ Script error: No such module "citation/CS1".
  27. ↑ Script error: No such module "citation/CS1".
  28. ↑ Script error: No such module "citation/CS1".
  29. ↑ Script error: No such module "citation/CS1".
  30. ↑ Script error: No such module "citation/CS1".
  31. ↑ Script error: No such module "citation/CS1".
  32. ↑ Script error: No such module "citation/CS1".
  33. ↑ Script error: No such module "citation/CS1".
  34. ↑ Script error: No such module "citation/CS1".
  35. ↑ Script error: No such module "citation/CS1".
  36. ↑ Script error: No such module "citation/CS1".
  37. ↑ Script error: No such module "citation/CS1".
  38. ↑ Script error: No such module "citation/CS1".
  39. ↑ Script error: No such module "citation/CS1".Template:Self-published source
  40. ↑ Script error: No such module "citation/CS1".

External links

Template:Finance links

Script error: No such module "Portal". Template:NASDAQ-100 Template:City of Rochester, NY

Retrieved from "http://debianws.lexgopc.com/wiki143/index.php?title=Paychex&oldid=733986"