Paychex

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>Template:Cite news</ref> the company has more than 100 offices serving approximately 800,000 payroll clients in the U.S. and Europe.<ref name=10K/> Paychex is ranked 681st on the Fortune 500 list of largest corporations by revenue.<ref>Template:Cite news</ref>

History

Paychex was founded in 1971 by Tom Golisano, who started the company with only $3,000.<ref>Template:Cite news</ref><ref>Template:Cite web</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>Template:Cite web</ref><ref>Template:Cite news</ref>

Paychex acquired Pay-Fone in 1995.<ref>Template:Cite web</ref> In 1996, the company acquired Olsen Computer Systems<ref>Template:Cite news</ref> and National Business Systems.<ref>Template:Cite news</ref>

Between 2002 and 2003, it acquired Advantage Payroll Services,<ref>Template:Cite news</ref> Interpay,<ref>Template:Cite web</ref> and Time in a Box,<ref>Template:Cite news</ref> followed by Time in a Box's parent Stromberg in 2004.<ref>Template:Cite web</ref><ref>Template:Cite news</ref>

The company purchased Hawthorne Benefit Technologies in 2007,<ref>Template:Cite news</ref> SurePayroll, Inc. in 2010,<ref>Template:Cite news</ref> and ePlan Services in 2011.<ref>Template:Cite news</ref><ref>Template:Cite news</ref> It Icon Time Systems<ref>Template:Cite news</ref> and ExpenseWire in 2012 for an undisclosed amount.<ref>Template:Cite web</ref> Between 2013 and 2017, it purchased myStaffingPro<ref>Template:Cite press release</ref> NETtime solutions<ref>Template:Cite news</ref> Advance Partners,<ref>Template:Cite news</ref> and Human Resources Outsourcing, Inc.<ref>Template:Cite news</ref>

Rochester Democrat and Chronicle named Paychex one of the Best Places to Work in Rochester in 2016.<ref>Template:Cite web</ref>

It acquired Lessor Group 2018.<ref>Template:Cite news</ref> That year it also acquired Oasis for a reported $1.2 billion.<ref>Template:Cite news</ref><ref>Template:Cite news</ref><ref>Template:Cite news</ref><ref>Template:Cite news</ref>

In 2019, Paychex was named to the Fortune list of Future 50 companies.<ref>Template:Cite news</ref>

John Gibson has been CEO of Paychex since October 2022.<ref>Template:Cite web</ref><ref>Template:Cite news</ref>

The company generated $5.2 billion in revenue and $13 billion in assets in 2024.<ref name=Forbes />

In 2025, it acquired Paycor for $4.1 billion<ref>Template:Cite news</ref><ref>Template:Cite news</ref><ref>Template:Cite news</ref>

In May 2025, Paychex acquired SixFifty, the legal tech unit of U.S. law firm Wilson Sonsini Goodrich & Rosati, in an all-cash deal worth between $70 million and $85 million.<ref>Template:Cite news</ref>

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.<ref>Template:Cite news</ref> The IHS Markit Small Business Employment Watch shares small business jobs data beginning 2005 and wage data from 2011.Template:Citation needed<ref>Template:Cite webTemplate:Self-published source</ref> The Employment Watch is frequently used by financial experts, analysts, and journalists assessing the economic outlook.<ref>Template:Cite news</ref>

References

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External links

• Template:Official website

• Wolfram Alpha Fundamentals & Financials