About Paychex, Inc. (PAYX)

Company Description:

Paychex, Inc. is a leading provider of integrated human capital management solutions for payroll, benefits, human resources, and insurance services. The company primarily serves small- to medium-sized businesses.

Founded by B. Thomas Golisano on August 16, 1971, Paychex began as a payroll processing firm and has since expanded its services to include a wide range of HR and business solutions. The company is headquartered in Rochester, New York, United States.

Main Product(s):

Paychex offers a comprehensive suite of services including payroll processing, retirement services, insurance, and fully integrated human resource management solutions.

Short History of Paychex, Inc:

• 1971 – Founded by B. Thomas Golisano with an investment of $3,000.
• 1983 – Paychex went public and began trading on the NASDAQ Stock Market.
• 1996 – Expanded its service offerings beyond payroll processing to include 401(k) recordkeeping.
• 2000s – Broadened its services further into the HR and business services sector.
• 2010 – Acquired SurePayroll, expanding into online payroll services.
• 2021 – Celebrated 50 years of service, cementing its place as a major player in the HR and payroll services industry.