Inside the research
Paychex, Inc.
PAYX Research profile · latest available data
Price overview
$101.37
▼ -0.22 (-0.2%)
| 52w hi | $127.34 |
|---|---|
| 52w lo | $83.61 |
| Vol | 3.93M |
| As of | 25 Sep 2026 |
The Verdict
Our score +0.30
| Short | -0.08 |
|---|---|
| Medium | +0.54 |
| Long | +0.57 |
computed 2026-09-27
Key fundamentals
Paychex, Inc.
Technology · Software - Application
| Market cap | $36.09B |
|---|---|
| Enterprise value | $39.77B |
| Trailing P/E | 20.11x |
| Forward P/E | 15.87x |
| EV / EBITDA | 12.92x |
| P / S (ttm) | 5.47x |
| Profit margin | 27.4% |
| Return on equity | 47.1% |
| Revenue growth | +5.9% |
| Earnings growth | +13.9% |
| Debt / equity | 124.70 |
Layer Breakdown
| Layer | Raw | Contribution |
|---|---|---|
| Fundamental | +0.27 | |
| Sector | +0.15 | |
| Technical | +0.11 | |
| Earnings | +0.00 | |
| Sentiment | -0.14 |
macro × 1.00 · 2026-09-27
Business overview
Paychex, Inc., together with its subsidiaries, provides human capital management solutions (HCM) for human resources, payroll processing, employee benefits, and insurance services for small to medium-sized businesses in the United States, Europe, Canada, India, and Israel. It offers technology and advisory solutions; and payroll tax administration services. The company also provides retirement solutions, such as plan implementation, ongoing compliance with government regulations, employee and employer reporting, participant and employer online access, electronic funds transfer, and other administrative services; HCM solutions from recruiting and hiring to retirement; and talent management and talent acquisition services. In addition, it offers payroll solutions, including calculation, preparation, and delivery of employee payroll checks; production of internal accounting records and management reports; preparation of federal, state, and local payroll tax returns; and collection and remittance of clients' payroll obligations. Further, the company provides workforce management solutions; benefits administration solutions; digital marketplace for earned wages, financial wellness solutions, and voluntary lifestyle benefits; administrative services organization HR outsourcing solutions; solutions to payroll and non-payroll customers; retirement and funding solutions; and insurance services for property and casualty coverage, such as workers' compensation, business-owner policies, cyber security protection, and commercial auto, as well as health and benefits coverage, including health, dental, vision, and life. Additionally, it offers payroll, HR, employee benefits administration, retirement, insurance, risk management outsourcing, and access to professionally trained HR representatives, virtually and on-site. It markets and sells its solutions primarily through its direct sales force. Paychex, Inc. was founded in 1971 and is headquartered in Rochester, New York.
Risk Metrics
| Beta vs SPX | 0.46 |
|---|---|
| Corr SPX | 0.27 |
| Annual vol | 27.1% |
| Annual ret | -10.0% |
| Sharpe | -0.37 |
| Max DD | -46.4% |
Window: 504 trading days (504 obs)
Analyst Coverage
| Mean PT | $100.93 |
|---|---|
| High / Low | $125.00 / $90.00 |
| Median | $100.00 |
| Analysts | 15 |
| Strong Buy | 0 | |
|---|---|---|
| Buy | 1 | |
| Hold | 14 | |
| Sell | 3 | |
| Strong Sell | 1 |
Recent rating actions
| 2026-04-13 | UBS | → Neutral |
| 2026-03-26 | Wells Fargo | → Underweight |
| 2026-03-26 | TD Cowen | → Hold |
| 2026-03-26 | JP Morgan | → Underweight |
| 2026-03-26 | Citigroup | → Neutral |
| 2026-03-26 | Baird | → Neutral |
Material Events
| Date | Event | 8-K |
|---|---|---|
| 2026-07-21 | Officer / Director Change, Exhibits | read |
| 2026-06-24 | Earnings Release, Exhibits | read |
| 2026-03-25 | Earnings Release, Exhibits | read |
| 2026-01-26 | Material Agreement, Termination of Agreement… | read |
| 2026-01-20 | Officer / Director Change, Other Material Event… | read |
| 2025-12-19 | Earnings Release, Exhibits | read |
| 2025-10-14 | Shareholder Vote | read |
| 2025-09-30 | Earnings Release, Exhibits | read |
| 2025-07-14 | Officer / Director Change, Reg FD Disclosure… | read |
| 2025-06-25 | Earnings Release, Exhibits | read |
| 2025-05-16 | Officer / Director Change, Exhibits | read |
| 2025-04-14 | Acquisition / Disposition, Other Material Event… | read |
Flow & Concentration
| Insider 180d net | $0 |
|---|---|
| Insider buys / sells | 0 / 0 |
| Insider bias | Neutral |
| 13F holders | 8 |
| Top-5 share | 94.7% |
| HHI | 3,648 (concentrated) |
Top Holders
| Holder | Value | Shares |
|---|---|---|
| State Street Corp | $1.42B | 14.41M |
| Capital Research / Capital World | $330.65M | 3.36M |
| Millennium Management | $243.33M | 2.47M |
| AQR Capital Management | $200.63M | 2.04M |
| Fidelity / FMR LLC | $162.82M | 1.66M |
| Citadel Advisors | $110.63M | 1.13M |
| Renaissance Technologies | $21.49M | 218.50K |
| T. Rowe Price Group | $66.86K | 679.90K |
As of 2026-06-30
Dividends
| Yield (TTM) | 2.13% |
|---|---|
| $ / share (TTM) | $2.16 |
| 5y CAGR | +11.2% |
Annual dividend per share
| 2021 | $2.60 |
|---|---|
| 2022 | $3.03 |
| 2023 | $3.46 |
| 2024 | $3.83 |
| 2025 | $4.22 |
| 2026 | $1.08 |
SEC Filings
The Long Run
FY 2010–2025 · 16 years
| Line | Latest | CAGR | Trend |
|---|---|---|---|
| Revenue | $5.13B | +6.2% | |
| Operating income | $2.17B | +6.8% | |
| Net income | $569.00M | +3.6% | |
| Cash from ops | $1.71B | +7.9% |
Indices
Recent Sessions
| Date | Open | High | Low | Close | Vol |
|---|---|---|---|---|---|
| Sep 25 | $101.18 | $102.09 | $100.32 | $101.37 | 3.93M |
| Sep 24 | $105.49 | $107.60 | $101.49 | $101.59 | 4.44M |
| Sep 23 | $109.67 | $110.50 | $103.25 | $104.49 | 8.22M |
| Sep 22 | $115.71 | $115.97 | $113.32 | $114.53 | 4.03M |
| Sep 21 | $115.52 | $116.26 | $114.18 | $115.01 | 2.91M |
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