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The themes Paychex is part of, the highest-graded companies in its industry, and the companies in its sector whose grade rose recently.
Highest-graded in Software Application
Graded A or B and worth $2B or more: A first, then the largest.
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Grade rose recently in Technology
Rose to A or B on a filing in the last 90 days, worth $2B or more: largest first.
LRCXLAM Research CorporationOct 22, 2026BAGraded B, now A
IBMInternational Business Machines CorporationOct 21, 2026BAGraded B, now A
CDNSCadence Design Systems, Inc.Oct 28, 2026BAGraded B, now A
NXPINXP Semiconductors N.V.Oct 27, 2026BAGraded B, now A
UIUbiquiti Inc.Nov 6, 2026BAGraded B, now A
How it makes money
- Management Solutions74%
- PEO and Insurance Solutions23%
- Interest on funds held for clients3%
Shares of revenue are estimates for three months ended August 31, 2026, high confidence, not figures from a filing.
Competes with
What it sells6
Paychex Flex
Paychex's human-resources and payroll software for small and midsize businesses, with optional tools for benefits, hiring, employee management, and scheduling.
SurePayroll
Online payroll software for small businesses that want to handle payroll themselves.
Paycor
Human-resources and payroll software for larger businesses with more complex needs.
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Payroll processing
Calculates employee pay, prepares payroll records and tax filings, and sends wages and payroll taxes to the appropriate recipients.
Human-resources outsourcing
Combines human-resources software and advice for employers. Some arrangements make Paychex a co-employer and include services such as payroll, benefits administration, and insurance support.
Retirement and insurance services
Administers workplace retirement plans, including 401(k) plans, and helps employers arrange health, life, workers' compensation, and other business insurance.
Who buys it4
- Small businesses that use online payroll or want Paychex staff to process payroll and help with human-resources administration.
- Midsize and larger employers that buy payroll, hiring, workforce-management, benefits, and human-resources software and services.
- Employers that use Paychex to administer workplace retirement plans or arrange employee and business insurance.
- Accountants, benefits brokers, banks, and other referral partners that direct employers to Paychex services.
What it stands on, and what could break it
What the business leans on
- 1Employers must provide enough money to cover payroll and other payments Paychex makes on their behalf.
- 2Payroll and human-resources services depend on keeping software current with changing federal, state, and local tax and employment rules.
- 3Insurance and professional employer organization services depend on insurance carriers, insurance rates, and the cost of claims.
- 4The company relies on third-party service providers and technology systems to deliver its services and protect client and employee information.
What could go wrong
- 1Cyberattacks, software defects, or service interruptions could expose client information, disrupt payroll and other services, or damage customer relationships.
- 2Changes to tax, employment, insurance, data-privacy, and artificial-intelligence rules could require costly or rapid changes to services and software, or expose the company to penalties if it fails to comply.
- 3In its professional employer organization business, Paychex shares certain employer responsibilities and bears exposure to workers' compensation and health-insurance claims; changes in rates or claims could increase costs.
About Paychex Inc.
Paychex provides payroll processing, human-resources software, and help with hiring, employee benefits, retirement plans, and insurance. Employers can run payroll online themselves or have Paychex staff handle it; the company also provides human-resources outsourcing, including arrangements where it shares certain employer responsibilities. It served approximately 840,000 customers (May 31, 2026, high confidence), including approximately 800,000 payroll clients (May 31, 2026, high confidence), in the United States and parts of Europe.
- Head office
- Rochester, New York, and Cincinnati, Ohio
- Founded
- 1979
- Employees
- Approximately 17,600 (May 31, 2026, high confidence)
- Listed on
- NASDAQ
- Financial year ends
- May 31
Built from Paychex Inc.’s own filings with the U.S. Securities and Exchange Commission (SEC). Figures are as reported, with per-share history restated onto today’s share basis. This describes a business — it is not investment advice and not a recommendation to buy or sell anything.
