Mark Bottini, Senior Vice President of Sales at Paychex, has announced his immediate retirement but will continue as a special advisor until August 31, 2025, maintaining his current salary during this transition. Michael Gioja, Senior Vice President of Product Development and IT, has also retired immediately and will serve as a special advisor until December 31, 2025. His salary will be reduced to $120,000 after August 31, 2025, as he transitions to a part-time role.
Additionally, following the departure of B. Thomas Golisano from the Board of Directors on July 9, 2025, Paychex has decided to reduce the size of its Board from 11 to 10 directors. These leadership changes may impact the company's operational strategy and governance structure.
linkJul 14, 2025 16:03:02
Paychex, Inc. announced its financial results for the fourth quarter and fiscal year 2025, reporting a 10% increase in total revenue for the fourth quarter, reaching $1.4 billion, and a 6% increase for the full year to $5.6 billion. The company experienced a decrease in operating income by 11% in the fourth quarter, with diluted earnings per share down 22% to $0.82. The acquisition of Paycor HCM, Inc. contributed to the revenue growth, and the company noted strong client retention and investments in technology and customer experience as key factors in their performance.
In addition to the financial results, Paychex provided a business outlook for fiscal 2026, anticipating total revenue growth between 16.5% and 18.5% and adjusted diluted earnings per share growth of 8.5% to 10.5%. The company highlighted the expected growth in Management Solutions revenue and the ongoing integration of Paycor as factors that could enhance their market position. Paychex's financial position remains strong with $1.7 billion in cash and investments, despite an increase in borrowings related to the acquisition.
linkJun 25, 2025 08:35:10
Paychex, Inc. has announced that its Founder, B. Thomas Golisano, will step down from the Board of Directors after the July 2025 meeting. Golisano, who established the company in 1971 and has held various leadership roles, including President and CEO, has been influential in Paychex's growth into a major human capital management provider serving nearly 800,000 clients and generating over $5 billion in annual revenue.
In reflecting on his tenure, Golisano expressed pride in the company’s achievements over the past 54 years and noted his significant philanthropic contributions totaling nearly $800 million. Current Chairman Martin Mucci and other executives recognized Golisano's impact on the company and expressed gratitude for his leadership and vision. The transition comes as Paychex continues to evolve and expand its services in the HR and payroll sectors.
linkMay 16, 2025 16:28:29
Paychex has successfully completed its acquisition of Paycor HCM, enhancing its position in the human capital management industry. This deal is expected to unlock new revenue opportunities and strengthen Paychex's competitive stance in the market. The combined offerings are designed to provide customers with more choices and flexibility in addressing workforce needs, while the integration strategy will focus on sales expansion and product innovation.
However, the press release does not provide specific financial metrics or performance indicators related to this acquisition. There are no negative points highlighted in the announcement, but the absence of detailed financial information may leave some stakeholders seeking more clarity on the potential impacts of the acquisition.
linkApr 14, 2025 10:58:26
Paychex, Inc. reported a 5% increase in total revenue for the third quarter, reaching $1.5 billion, and a 4% rise in diluted earnings per share to $1.43. The company noted its acquisition of Paycor HCM, Inc. is expected to close in April 2025, which is anticipated to enhance its offerings and customer base. Additionally, the company returned $1.2 billion to stockholders in the first nine months of fiscal 2025 through dividends and share repurchases.
On the downside, total expenses grew by 4% to $817.2 million, largely due to costs associated with the Paycor acquisition and increased insurance costs linked to growth in worksite employees. Interest income also decreased by 2%, reflecting lower average interest rates. Furthermore, other expenses, net of income, fell significantly to a $6 million expense, influenced by acquisition-related costs and declining interest rates on corporate investments.
linkMar 26, 2025 08:43:11
Paychex, Inc. announced the expiration of the waiting period under the Hart-Scott Rodino Antitrust Improvements Act for its acquisition of Paycor HCM, Inc. This marks a significant step towards finalizing the acquisition, which is expected to close in the first half of 2025, pending other customary conditions. Paychex serves over 745,000 customers and plays a crucial role in payroll processing for a substantial portion of American private sector employees.
However, the acquisition still faces potential challenges as it remains subject to other customary closing conditions. Paychex outlined various risks that could affect its operations, including technological changes, cybersecurity threats, and the ability to comply with regulations. These factors could impact the company’s performance and integration of the acquired business.
linkFeb 27, 2025 16:26:18
Paychex, Inc. has announced a definitive agreement to acquire Paycor HCM, Inc. for $22.50 per share, totaling approximately $4.1 billion. This acquisition has been unanimously approved by both companies' Boards of Directors. Paycor, which has around 2,900 employees and serves over 49,000 clients, is expected to enhance Paychex's capabilities and expand its market reach. The deal is anticipated to create significant cost synergies exceeding $80 million in the near-term and provide additional growth opportunities through Paycor's existing partnerships and technologies.
However, the acquisition will be funded through incremental debt, which may raise concerns about Paychex's financial leverage. Additionally, the transaction is subject to regulatory approvals and customary closing conditions, which could delay its completion. While Paychex maintains a commitment to its dividend policy and strong balance sheet, the reliance on external financing might impact investor sentiment regarding the company's financial stability during the integration of Paycor.
linkJan 07, 2025 17:15:50
Paychex, Inc. announced a revenue increase of 5% for the second quarter of fiscal 2025, reaching $1.3 billion compared to $1.26 billion in the same period last year. The company also reported a 6% growth in diluted earnings per share, amounting to $1.14, alongside a 6% rise in operating income to $538.1 million. The demand for their HR solutions remains robust, with a noted increase in Professional Employer Organization and Insurance Solutions revenue by 7%. Additionally, the company returned $810 million to stockholders in the first half of the fiscal year through dividends and share repurchases.
Conversely, the expiration of the Employee Retention Tax Credit (ERTC) program impacted revenue growth, which would have been 7% without this factor. Total expenses increased by 4%, largely due to rising costs associated with the growth in average worksite employees and continued investments in technology and marketing. Furthermore, other income saw a significant decrease from $11.7 million to $5.6 million, primarily due to lower average interest rates on corporate investments.
linkDec 19, 2024 08:40:48
Paychex, Inc. has reported solid results for the first quarter of fiscal 2025, with a 3% increase in total revenue, reaching $1.3 billion. The company saw earnings per share rise by 2%, reflecting effective expense management despite challenges such as the expiration of the Employee Retention Tax Credit program. Paychex is also returning significant value to shareholders, having distributed $457 million through dividends and share repurchases. Additionally, the introduction of new digital solutions aims to support businesses in adapting to the evolving market landscape.
The company experienced a mixed performance across its revenue streams, with Management Solutions growing by 1% and Professional Employer Organization (PEO) solutions seeing a more robust 7% increase. Operating income also grew by 2%, although total expenses rose by 3%, highlighting the ongoing investment in technology and marketing. Notably, interest income from client funds surged by 15%, benefiting from higher average interest rates. Overall, while Paychex faces some headwinds, its commitment to innovation and shareholder returns positions it well for future success.
linkOct 01, 2024 08:42:13
Paychex, Inc. announces solid revenue growth, margin expansion, and increased earnings per share for fiscal year 2024. The company's revenue increased by 5%, operating income by 7%, and diluted EPS by 9%. Adjusted diluted EPS grew by 11%. Despite challenges faced by small and mid-size businesses, Paychex is optimistic about its upcoming fiscal year. The company's financial position remains robust with strong cash flow generation and investments. Paychex also paid dividends and repurchased shares during fiscal 2024.
linkJun 26, 2024 08:35:34