Paychex was founded by Tom Golisano in 1971 with $3,000 in start-up money.
By 1979, the company was comprised of 18 franchises and partnerships and was consolidated into one privately-held company.
Today Paychex processes payroll for 570,000 clients, which makes it the second-largest payroll processor in the United States, after Automatic Data Processing. The company also offers production of management reports and accounting records, payroll tax returns, and collection of client’s payroll obligations.
The company serves its small to medium-sized business clients through 100 offices worldwide.
Paychex trades publicly on the NASDAQ under the ticker symbol PAYX, is a member of the S&P 500, is #879 in the Fortune 1000, has 15,000 employees, and had $3.38 billion in revenue in 2018.
In December 2021, Paychex won two Brandon Hall awards for Excellence in Technology.
Paychex stocks also increased substantially during the second quarter of 2021.
The company maintains a corporate office in Rochester, New York.