Wiki source code of Paychex Inc

Last modified by Asif Farooqui on 2023/04/02 06:55
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1 {{box cssClass="floatinginfobox" title="**Contents**"}}
2 {{toc/}}
3 {{/box}}
4
5 = Summary =
6
7 * Paychex is a leading human capital management (HCM) software and services company
8 * It offers integrated solutions for human resources (HR), payroll, benefits, and insurance services for small- to medium-sized businesses.
9 * The company has more than 730,000 clients in the U.S. and Northern Europe.
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13 [[image:PAYX0.png||height="239" width="718"]]
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16 Paychex, Inc. (Nasdaq: PAYX, LSE: 0KGE) is a leading provider of integrated human capital management solutions for human resources, payroll, benefits, and insurance services for small to medium sized businesses.
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18
19 = Financial Highlights =
20
21 **Third Quarter FY23 Results**{{footnote}}https://investor.paychex.com/news-events/press-releases/detail/705/paychex-inc-reports-third-quarter-results-strong-revenue{{/footnote}}
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23 * Service revenue was $1.3 billion in the third quarter, an increase of 7% over the prior year period.
24 * Management Solutions’ revenue was $1.0 billion, an increase of 7%.
25 * Professional Employer Organization (“PEO”) and Insurance Solutions revenue was $321.2 million, an increase of 6%.
26 * Total expenses increased 8% to $769.1 million.
27 * Operating income grew 9% to $611.9 million compared to the prior year period. Operating margin of 44.3% was consistent with the prior year period.
28 * Diluted earnings per share increased 8% to $1.29 per share and adjusted diluted earnings per share increased 12% to $1.29 per share for the third quarter compared to the prior year period.
29 * Cash, restricted cash, and total corporate investments of $1.6 billion.
30 * Short-term and long-term borrowings, net of debt issuance costs, of $808.3 million.
31 * Cash flow from operations was $1.3 billion for the nine months.
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35 [[image:PAYX1.jpg]]
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37
38 = Company Overview =
39
40 Paychex is a leading human capital management (HCM) software and services company, offering integrated solutions for human resources (HR), payroll, benefits, and insurance services for small- to medium-sized businesses. The company has more than 730,000 clients in the U.S. and Northern Europe.{{footnote}}https://www.paychex.com/corporate{{/footnote}}
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42
43 == Subsidiaries ==
44
45 The company's subsidiaries are for specific business needs.
46
47 * .Advance Partners® — Staffing firm services
48 * Advantage Payroll Payroll® — Payroll services
49 * ePlan Services — Retirement plan services
50 * ExpenseWire® — Expense reporting
51 * Flock® — Benefits administration
52 * Icon Time® — Time and attendance systems
53 * Lessor Group — Payroll services in Northern Europe
54 * MyStaffingPro® — Applicant tracking software
55 * Nettime® — Time and attendance software
56 * SurePayroll® — Small business payroll
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60 [[image:PAYX2.webp]]
61
62
63 == Solutions and Services ==
64
65 === Solutions ===
66
67 **Payroll Services**
68
69 * Small Business Payroll
70 * Midsize to Enterprise Payroll
71 * Compare Payroll Packages
72 * Switch Payroll Companies
73 * ERTC Service
74 * Payroll Tax Services
75
76
77 **Employee Benefits**
78
79 * Group Health Insurance
80 * HSA, FSA & more benefits
81 * Retirement Services
82 * Benefits Administration Services
83
84
85 **HR Services**
86
87 * HR Consulting
88 * Employee Onboarding
89 * Hiring Services
90 * PEO
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92
93 **Time & Attendance**
94
95 * Time Clocks
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97
98 **Product Integrations**
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101 **Business Insurance**
102
103 * Workers' Compensation
104 * General Liability
105 * Umbrella
106 * Cyber Liability
107 * Commercial Property
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109
110 === Services ===
111
112 * Payroll Services
113 * Time & Attendance
114 * HR Services
115 * Employee Benefits Services
116 * Business Insurance Solutions
117 * Payment Processing Solutions
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119
120 = References =
121
122 {{putFootnotes/}}
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