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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

Hourly Wage Growth for Small Business Workers Continues to Cool, Consistent with Overall Inflation Trend

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Hourly earnings growth has slowed to 3.79% in September 2023, a pace not seen since September 2021. Small business job growth rate has decreased by -0.21% from August. Wage inflation continues to cool. Small businesses are adding workers at a sustained but modest rate. The West leads regional hourly earnings growth at 4.23%. North Carolina ranks first in small business employment growth among states. Leisure and Hospitality job growth is slower than the national pace, but the sector leads in hourly earnings growth at 4.35%. Manufacturing fell by -0.25% in September. Construction ranks second in hourly earnings growth at 4.27% and first in weekly earnings growth at 4.15%.
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Paychex, Inc. Reports First Quarter Fiscal 2024 Results:

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Paychex, Inc. reports a 7% growth in total revenue and an 11% growth in adjusted diluted earnings per share for the first quarter of fiscal 2024. Demand for their solutions remains strong, and small and mid-sized businesses are hiring workers at a moderate level. Service revenue increased by 5% and operating income grew by 8%. Interest on funds held for clients increased by 83%. Total expenses increased by 5%. Cash flow from operations was $655.8 million. Paid dividends of $0.89 per share totaling $321.9 million. Adjusted diluted earnings per share is anticipated to grow in the range of 9% to 11% for fiscal 2024.
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Paychex Releases 2023 Environmental, Social, and Governance (ESG) Report

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Paychex releases 2023 ESG Report, emphasizing commitment to ethics, diversity, and sustainability.
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Paychex, Inc. Schedules First Quarter Fiscal 2024 Earnings Conference Call for September 27, 2023

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Paychex, Inc. will release financial results for its fiscal 2024 first quarter on September 27, 2023. A conference call will be held to review the results.
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Paychex Announces Efrain Rivera Plans to Retire as CFO

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Paychex announces CFO retirement and successor
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August Job Growth Among Small Businesses Unchanged from July

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Hourly earnings growth is below four percent for the second-straight month
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Advance Partners Honored with Two Awards for Excellence by Pan Finance

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Advance Partners, a Paychex company, has been named the winner of two Pan Finance Awards for Most Innovative Payroll Financing Services and Best Payroll Funding Solutions Provider. They have helped thousands of staffing firms pay millions of temporary workers, funding over $32 billion in invoices. The company celebrates its 25th anniversary and expresses gratitude to customers and employees for fueling its growth. The strong team and shared values between Paychex and Advance Partners contribute to their success in supporting customers.
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Paychex Named Largest 401(k) Recordkeeper in the U.S. for 13th Consecutive Year

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Paychex (PAYX) Recognized as Top 401(k) Recordkeeper by PLANSPONSOR Magazine: For the 13th consecutive year, Paychex, Inc. has been acknowledged as the largest 401(k) recordkeeper in the nation. The company serves nearly 110,000 plans and helped over 23,000 business owners and employees start saving for retirement in the last year. This recognition is a testament to Paychex's advanced capabilities and commitment to helping small and medium-sized businesses offer comprehensive and affordable benefits. Paychex customers and participants have access to full integration with Paychex Flex®, a Pooled Employer Plan option, accessible investment management and self-service tools, fee transparency, and investment flexibility and fiduciary solutions.
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Paychex Earns 2023 Tech Cares Award From TrustRadius

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Paychex, Inc. (PAYX) recognized by TrustRadius with 2023 Tech Cares Award for Corporate Social Responsibility (CSR) programs and community impact, demonstrating commitment to volunteerism, diversity, equity, and inclusion (DEI) programs, charitable donations, fundraising, workplace culture, and environmental sustainability. Paychex Charitable Foundation committed $1 million gifts to Mental Health America, Feeding America, Junior Achievement USA, and National Urban League. The company's strategic framework has made significant impact on mental health, physical health, financial health, and professional skills development.
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Job Market Remains Stable, Wage Growth Drops Below Four Percent

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Paychex | IHS Markit Small Business Jobs Index Remains Steady in July 2023
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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.

Stock PAYX logo
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