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Paychex Inc - PAYX STOCK NEWS

Welcome to our dedicated page for Paychex news (Ticker: PAYX), a resource for investors and traders seeking the latest updates and insights on Paychex stock.

Paychex, Inc. (NASDAQ: PAYX) is a prominent provider of integrated human capital management solutions, specializing in payroll, human resources, retirement, and insurance services. Established in 1979, Paychex boasts over 45 years of industry expertise, serving more than 740,000 clients across over 100 locations in the United States. The company’s innovative Software-as-a-Service (SaaS) technology and mobility platform, combined with dedicated personal service, empower small and medium-sized business owners to focus on growth and efficient business management.

Paychex offers a broad spectrum of human capital management (HCM) services, including payroll processing, benefits administration, time and attendance software, human resources outsourcing, and insurance agency services. This extensive range ensures that clients receive comprehensive support tailored to their specific needs.

One of the company’s recent achievements includes recognition by BetterInvesting Magazine as the “Stock to Study” for the June/July 2024 issue, highlighting its solid financial performance and promising investment potential. Paychex continues to prioritize innovation and customer service, maintaining its position as a reliable partner for businesses across the nation.

With a commitment to delivering exceptional value, Paychex effectively pays one out of every 12 private-sector employees in the U.S. This substantial impact on the American workforce underscores the company’s crucial role in the market.

Paychex’s core mission is to simplify complex payroll and HCM tasks, allowing business owners to concentrate on what truly matters: their business growth and success. As the company continues to evolve, it remains dedicated to advancing its technology and enhancing its service offerings to meet the ever-changing needs of its clients.

News

U.S. Small Business Job Growth Continues as Wage Inflation Moderates to Close 2023

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Paychex (PAYX) reports that U.S. small businesses experienced job growth for all of 2023, with the Small Business Jobs Index closing the year at 101.21 (1.2% growth). Hourly earnings growth for U.S. workers in December was down from 4.93% in December 2022 to 3.48% in December 2023.
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Paychex, Inc. Reports Second Quarter and Mid-year Fiscal 2024 Results

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Paychex, Inc. (PAYX) reports 6% revenue growth and 9-10% increase in diluted earnings per share for the second quarter of fiscal 2024. The company's financial position remains strong with $1.4 billion in cash and investments. The business outlook for fiscal 2024 includes anticipated growth in PEO and Insurance Solutions revenue and adjusted diluted earnings per share.
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Paychex, Inc. Schedules Second Quarter Fiscal 2024 Earnings Conference Call for December 21, 2023

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Paychex, Inc. (Nasdaq: PAYX) will release financial results for its fiscal 2024 second quarter ended November 30, 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.
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Paychex Identifies Top 5 Regulatory Issues for Employers to Watch in 2024

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Paychex, a leading provider of human capital management software solutions, released the top five regulatory and compliance-related topics employers should monitor in 2024. The topics include AI regulations, data privacy, wage and hour laws, workplace safety, and retirement legislation.
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Wage Growth for Workers of U.S. Small Businesses Continues Downward Trend; Job Growth Remains Stable

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Paychex, Inc. (PAYX) reports that the rate of hourly earnings growth for U.S. small business workers has slowed to 3.48% in November, falling below 3.50% for the first time since July 2021. Hiring at small businesses remains stable but continues to slow from the rate of growth seen at the start of 2023. The South leads the pace of small business job growth among regions for the 20th consecutive month, while the Northeast ranks last among regions.
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Paychex Study: SMB Leaders to Manage HR and Business Challenges with New Technology in 2024

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Paychex, a leading provider of human capital management software solutions, shared the results of the annual Priorities for Business Leaders survey. The survey of 600 U.S. business and HR leaders with 5-500 employees revealed that nearly all (98%) will use AI in 2024 to solve business challenges. The top business challenges identified include rising interest rates, overall inflation, and the threat of an economic slowdown. Additionally, the top HR challenges for organizations are risk management, leadership development, and attracting talent. 85% of respondents are already using AI, with 98% expecting to use it in 2024.
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Paychex Named a Leader in Payroll Services by NelsonHall

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Paychex Inc. (PAYX) recognized as a Leader in Digital Payroll and Payroll Plus for extended HR services by NelsonHall, a global analyst and research firm. Paychex Flex® is positioned in the upper right quadrant of the NEAT graph for the 7th consecutive time. The report evaluated 15 payroll services vendors based on immediate client benefits and future requirements, with Paychex ranked highly in the 'Leader' category for both criteria. Liz Rennie, NelsonHall’s HR technology & services research director, praised Paychex for its responsive customer service and robust payroll technology, highlighting its payroll insights, accuracy, and positive employee experiences. The company's continuous focus on anticipating business challenges and delivering innovative technology was also emphasized.
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Small Business Wage Growth Continues Downward Trend, While Job Growth Remains Stable

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Job growth in the U.S. remains moderate but is growing at a slower rate than a year ago, with small business job growth slowing by 0.66% from a year ago. Hourly earnings growth is below four percent for the fourth-straight month, and one-month annualized hourly earnings fell to the lowest level since November 2020.
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Paychex Supports RISE Act to Help Micro-Businesses Offer Employee Retirement Plans

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Rep. Tenney (R-NY) and Rep. Kildee (D-MI) have introduced bipartisan legislation called the Retirement Investment in Small Employers (RISE) Act, which aims to incentivize micro-sized businesses with 1-9 employees to adopt retirement plans. The legislation would increase the minimum allowable tax credit from $500 to $2,500 for businesses to establish a defined contribution plan and require employers to offer the Saver's Match to receive the tax credit. Paychex, Inc. supports the passage of this legislation, which would provide smaller businesses with incentives similar to those received by larger businesses.
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Paychex Declares Quarterly Dividend

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Paychex, Inc. declares quarterly dividend of $.89 per share
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FAQ

What is the current stock price of Paychex (PAYX)?

The current stock price of Paychex (PAYX) is $142.96 as of November 15, 2024.

What is the market cap of Paychex (PAYX)?

The market cap of Paychex (PAYX) is approximately 51.6B.

What services does Paychex Inc. provide?

Paychex offers integrated human capital management solutions, including payroll processing, HR outsourcing, benefits administration, and insurance services.

How many clients does Paychex serve?

Paychex serves over 740,000 clients across more than 100 locations in the United States.

When was Paychex established?

Paychex was established in 1979 and has over 45 years of industry expertise.

What recent recognition did Paychex receive?

Paychex was named the 'Stock to Study' in BetterInvesting Magazine's June/July 2024 issue.

How many U.S. private-sector employees does Paychex pay?

Paychex processes payroll for one out of every 12 U.S. private-sector employees.

What is the mission of Paychex?

Paychex aims to simplify payroll and HCM tasks, allowing business owners to focus on growth and success.

What technology does Paychex use to deliver its services?

Paychex utilizes innovative Software-as-a-Service (SaaS) technology and a mobility platform.

Does Paychex offer services to small businesses?

Yes, Paychex specializes in providing HCM solutions to small and medium-sized businesses.

What industries does Paychex serve?

Paychex serves a wide range of industries, focusing on providing comprehensive HCM solutions and payroll services.

How does Paychex support business growth?

By offering reliable HCM solutions and payroll services, Paychex allows business owners to focus on managing and growing their businesses.

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Paychex Inc

Nasdaq:PAYX

PAYX Rankings

#264 Ranked by Market Cap
#1138 Ranked by Dividends

PAYX Stock Data

51.60B
359.90M
10.7%
79.81%
5.25%
Software - Application
Services-engineering, Accounting, Research, Management
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United States of America
ROCHESTER