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37.8 (1y: +16%)
Market Cap 13.77 B P/E(ttm) 24.00
Enterprise Value 13.2 B P/B 8.50
PAYX- NAS (USA)
Paychex, Inc.
  • Currently 2.5/5
Business Predictability Rank: 2.5-Star
Back Testing Results:
Average gain of all 2.5-Star stocks: 7.3% per year.
% of Stocks that are in still loss if held for 10yrs: 18%.
Read more:
What is Predictability Rank?
Performances of real portfolio
Top Ranked Predictable Companies
$37.80
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GuruFocus Financial Strength Rank measures how strong a company’s financial situation is. It is based on these factors

1. The debt burden that the company has as measured by its Interest coverage (current year).
2. Debt to revenue ratio. The lower, the better
3. Altman Z-score.

A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.

Financial Strength : 8/10

vs
industry		 vs
history
Cash to Debt No Debt
PAYX's Cash to Debt is ranked higher than
92% of the 146 Companies
in the Global Staffing & Outsourcing Services industry.

( Industry Median: 6.23 vs. PAYX: No Debt )
PAYX' s 10-Year Cash to Debt Range
Min: 0.11   Max: No Debt
Current: No Debt
Equity to Asset 0.248
PAYX's Equity to Asset is ranked lower than
66% of the 146 Companies
in the Global Staffing & Outsourcing Services industry.

( Industry Median: 0.49 vs. PAYX: 0.248 )
PAYX' s 10-Year Equity to Asset Range
Min: 0.23   Max: 0.32
Current: 0.25
0.23
0.32
Interest Coverage No Debt
PAYX's Interest Coverage is ranked higher than
92% of the 146 Companies
in the Global Staffing & Outsourcing Services industry.

( Industry Median: 18.00 vs. PAYX: No Debt )
PAYX' s 10-Year Interest Coverage Range
Min: No Debt   Max: No Debt
Current: No Debt
F-Score: 6
Z-Score: 2.36
M-Score: -2.85
GuruFocus Profitability Rank ranks how profitable a company is and how likely the company’s business will stay that way. It is based on these factors:

1. Operating Margin
2. Trend of the Operating Margin (5-year average). The company with an uptrend profit margin has a higher rank.
••3. Consistency of the profitability
4. Piotroski F-Score
5. Predictability Rank•

The maximum rank is 10. A rank of 7 or higher means a higher profitability and may stay that way. A rank of 3 or lower indicates that the company has had trouble to make a profit.

Profitability Rank is not directly related to the Financial Strength Rank. But if a company is consistently profitable, its financial strength will be stronger.

Profitability & Growth : 7/10

vs
industry		 vs
history
Operating margin (%) 38.30
PAYX's Operating margin (%) is ranked higher than
99% of the 146 Companies
in the Global Staffing & Outsourcing Services industry.

( Industry Median: 3.50 vs. PAYX: 38.30 )
PAYX' s 10-Year Operating margin (%) Range
Min: 16   Max: 40.1
Current: 38.3
16
40.1
Net-margin (%) 24.6
PAYX's Net-margin (%) is ranked higher than
99% of the 146 Companies
in the Global Staffing & Outsourcing Services industry.

( Industry Median: 1.80 vs. PAYX: 24.6 )
PAYX' s 10-Year Net-margin (%) Range
Min: 11.8   Max: 29.3
Current: 24.6
11.8
29.3
ROE (%) 34.2
PAYX's ROE (%) is ranked higher than
96% of the 146 Companies
in the Global Staffing & Outsourcing Services industry.

( Industry Median: 8.60 vs. PAYX: 34.2 )
PAYX' s 10-Year ROE (%) Range
Min: 25.2   Max: 48.1
Current: 34.2
25.2
48.1
ROA (%) 8.5
PAYX's ROA (%) is ranked higher than
75% of the 146 Companies
in the Global Staffing & Outsourcing Services industry.

( Industry Median: 3.90 vs. PAYX: 8.5 )
PAYX' s 10-Year ROA (%) Range
Min: 7.4   Max: 10.9
Current: 8.5
7.4
10.9
ROC (Joel Greenblatt) (%) 252.50
PAYX's ROC (Joel Greenblatt) (%) is ranked higher than
94% of the 146 Companies
in the Global Staffing & Outsourcing Services industry.

( Industry Median: 26.00 vs. PAYX: 252.50 )
PAYX' s 10-Year ROC (Joel Greenblatt) (%) Range
Min: 19.1   Max: 266.3
Current: 252.5
19.1
266.3
Revenue Growth (%) 1.6
PAYX's Revenue Growth (%) is ranked higher than
70% of the 146 Companies
in the Global Staffing & Outsourcing Services industry.

( Industry Median: 0.00 vs. PAYX: 1.6 )
PAYX' s 10-Year Revenue Growth (%) Range
Min: -5.3   Max: 12.2
Current: 1.6
-5.3
12.2
EBITDA Growth (%) 1.5
PAYX's EBITDA Growth (%) is ranked higher than
75% of the 146 Companies
in the Global Staffing & Outsourcing Services industry.

( Industry Median: 0.00 vs. PAYX: 1.5 )
PAYX' s 10-Year EBITDA Growth (%) Range
Min: -1   Max: 16.6
Current: 1.5
-1
16.6
EPS Growth (%) 0.5
PAYX's EPS Growth (%) is ranked higher than
77% of the 146 Companies
in the Global Staffing & Outsourcing Services industry.

( Industry Median: 0.00 vs. PAYX: 0.5 )
PAYX' s 10-Year EPS Growth (%) Range
Min: -2.3   Max: 18.3
Current: 0.5
-2.3
18.3
» PAYX's 10-Y Financials

Financials


Revenue & Net Income
Cash & Debt
Oprt. Cash Flow & Free Cash Flow

» Details

Guru Trades
Q2 2012

PAYX Guru Trades in Q2 2012

Louis Moore Bacon 6,431 sh (New)
Jim Simons 1,422,101 sh (+1208.27%)
Tom Gayner 150,900 sh (unchged)
Meridian Funds 16,400 sh (unchged)
John Hussman Sold Out
Donald Yacktman Sold Out
Richard Perry Sold Out
Jeff Auxier 108,393 sh (-0.44%)
Arnold Van Den Berg 598,049 sh (-0.71%)
Manning & Napier Advisors, Inc 420,940 sh (-5.9%)
Jeremy Grantham 643,330 sh (-9.78%)
Joel Greenblatt 10,017 sh (-29.62%)
Steven Cohen 78,994 sh (-84.28%)
» More
Q3 2012

PAYX Guru Trades in Q3 2012

Louis Moore Bacon 29,656 sh (+361.14%)
Joel Greenblatt 10,139 sh (+1.22%)
Tom Gayner 150,900 sh (unchged)
Meridian Funds 16,400 sh (unchged)
Manning & Napier Advisors, Inc Sold Out
Jeff Auxier 106,293 sh (-1.94%)
Jeremy Grantham 623,630 sh (-3.06%)
Arnold Van Den Berg 387,609 sh (-35.19%)
Steven Cohen 47,595 sh (-39.75%)
Jim Simons 47,901 sh (-96.63%)
» More
Q4 2012

PAYX Guru Trades in Q4 2012

Ray Dalio 183,664 sh (New)
Joel Greenblatt 42,877 sh (+322.89%)
Jim Simons 99,101 sh (+106.89%)
Meridian Funds 16,400 sh (unchged)
Tom Gayner 150,900 sh (unchged)
Jeremy Grantham 585,130 sh (unchged)
Louis Moore Bacon Sold Out
Jeff Auxier 105,243 sh (-0.99%)
Arnold Van Den Berg 375,111 sh (-3.22%)
Steven Cohen 13,603 sh (-71.42%)
» More
Q1 2013

PAYX Guru Trades in Q1 2013

Jeremy Grantham 676,530 sh (+15.62%)
Jeff Auxier 106,093 sh (+0.81%)
Tom Gayner 150,900 sh (unchged)
Meridian Funds 16,400 sh (unchged)
Steven Cohen Sold Out
Ray Dalio Sold Out
Jim Simons Sold Out
Arnold Van Den Berg 369,398 sh (-1.52%)
Joel Greenblatt 26,678 sh (-37.78%)
» More
» Details

Insider Trades

Latest Guru Trades with PAYX

GuruDate Trades Impact to Portfolio Price Range * (?) Current Price Change from Average Current Shares
Ray Dalio 2013-03-31 Sold Out 0.06%$31.1 - $35.06 $ 37.814%0
Joel Greenblatt 2013-03-31 Reduce -37.78%0.03%$31.1 - $35.06 $ 37.814%26678
Ray Dalio 2012-12-31 New Buy0.06%$30.88 - $33.92 $ 37.816%183664
Joel Greenblatt 2012-12-31 Add 322.89%0.06%$30.88 - $33.92 $ 37.816%42877
Arnold Van Den Berg 2012-09-30 Reduce -35.19%0.63%$31.14 - $34.56 $ 37.815%387609
Richard Perry 2012-06-30 Sold Out 0.02%$29.2 - $32.49 $ 37.823%0
Joel Greenblatt 2012-06-30 Reduce -29.62%0.01%$29.2 - $32.49 $ 37.823%10017
Donald Yacktman 2012-06-30 Sold Out 0.0031%$29.2 - $32.49 $ 37.823%0
John Hussman 2012-06-30 Sold Out 0.001%$29.2 - $32.49 $ 37.823%0
Joel Greenblatt 2012-03-31 New Buy0.04%$30.23 - $32.56 $ 37.828%14233
Richard Perry 2012-03-31 New Buy0.02%$30.23 - $32.56 $ 37.828%16000
John Hussman 2012-03-31 New Buy$30.23 - $32.56 $ 37.828%1750
Donald Yacktman 2012-03-31 Reduce -21.51%$30.23 - $32.56 $ 37.828%14600
Tom Gayner 2011-12-31 Add 186.64%0.15%$25.55 - $30.24 $ 37.832%145900
Arnold Van Den Berg 2011-09-30 Add 60.99%0.63%$25.35 - $31.63 $ 37.836%654524
Joel Greenblatt 2011-09-30 Sold Out 0.0344%$25.35 - $31.63 $ 37.836%0
Ray Dalio 2011-09-30 Sold Out 0.03%$25.27 - $31.63 $ 37.837%0
Joel Greenblatt 2011-06-30 New Buy0.03%$29.24 - $33.5 $ 37.820%8000
James Barrow 2011-03-31 Sold Out $30.75 - $33.76 $ 37.816%0
Donald Yacktman 2010-09-30 Reduce -67.32%0.01%$24.78 - $27.25 $ 37.846%21600
Meridian Funds 2010-03-31 New Buy0.02%$28.86 - $32.76 $ 37.823%13000
Premium More recent guru trades are included for Premium Members only!!
» Financial Charts

Peter Lynch Chart

Top Ranked Articles about Paychex, Inc.

Arnold Van Den Berg’s Latest Sells as of 9/30/2012
October 9, 2012
Arnold Van Den Berg - Arnold Van Den Berg’s Latest Sells As Of 9/30/2012
As founder of Century Management, value investment Guru Arnold Van Den Berg has made updates to his portfolio picks for the end of the third quarter. Below are 19 companies – eight of which he made stock reductions and 11 of which he completely sold out his share holdings. [b] Read more...

Ratios

vs
industry		 vs
history
P/E(ttm) 24.00
PAYX's P/E(ttm) is ranked lower than
57% of the 112 Companies
in the Global Staffing & Outsourcing Services industry.

( Industry Median: 19.60 vs. PAYX: 24.00 )
PAYX' s 10-Year P/E(ttm) Range
Min: 13.69   Max: 99.89
Current: 24
13.69
99.89
P/B 8.50
PAYX's P/B is ranked lower than
80% of the 127 Companies
in the Global Staffing & Outsourcing Services industry.

( Industry Median: 2.16 vs. PAYX: 8.50 )
PAYX' s 10-Year P/B Range
Min: 5.67   Max: 33.49
Current: 8.5
5.67
33.49
P/S 6.00
PAYX's P/S is ranked lower than
79% of the 132 Companies
in the Global Staffing & Outsourcing Services industry.

( Industry Median: 0.54 vs. PAYX: 6.00 )
PAYX' s 10-Year P/S Range
Min: 3.6   Max: 27.67
Current: 6
3.6
27.67
PFCF 21.10
PAYX's PFCF is ranked lower than
57% of the 109 Companies
in the Global Staffing & Outsourcing Services industry.

( Industry Median: 16.26 vs. PAYX: 21.10 )
PAYX' s 10-Year PFCF Range
Min: 12.1   Max: 90.67
Current: 21.1
12.1
90.67
EV-to-EBIT 14.5
PAYX's EV-to-EBIT is ranked lower than
57% of the 114 Companies
in the Global Staffing & Outsourcing Services industry.

( Industry Median: 11.42 vs. PAYX: 14.5 )
PAYX' s 10-Year EV-to-EBIT Range
Min: 8.5   Max: 72.5
Current: 14.5
8.5
72.5
PEG 40.2
PAYX's PEG is ranked lower than
64% of the 47 Companies
in the Global Staffing & Outsourcing Services industry.

( Industry Median: 2.38 vs. PAYX: 40.2 )
PAYX' s 10-Year PEG Range
Min: 0.93   Max: 40.3
Current: 40.2
0.93
40.3
Shiller P/E 24.2
PAYX's Shiller P/E is ranked lower than
100% of the Companies
in the Global Staffing & Outsourcing Services industry.

( Industry Median: vs. PAYX: 24.2 )
PAYX' s 10-Year Shiller P/E Range
Min: 16.49   Max: 62.11
Current: 24.2
16.49
62.11

Dividend & Buy Back

vs
industry		 vs
history
Dividend Yield 2.60
PAYX's Dividend Yield is ranked higher than
83% of the 146 Companies
in the Global Staffing & Outsourcing Services industry.

( Industry Median: 1.88 vs. PAYX: 2.60 )
PAYX' s 10-Year Dividend Yield Range
Min: 0.45   Max: 5.87
Current: 2.6
0.45
5.87
Dividend Payout 0.6207
PAYX's Dividend Payout is ranked lower than
65% of the 75 Companies
in the Global Staffing & Outsourcing Services industry.

( Industry Median: 0.60 vs. PAYX: 0.6207 )
PAYX' s 10-Year Dividend Payout Range
Min: 0.39   Max: 0.94
Current: 0.62
0.39
0.94
Dividend growth (3y) 0.6
PAYX's Dividend growth (3y) is ranked higher than
84% of the 146 Companies
in the Global Staffing & Outsourcing Services industry.

( Industry Median: 0.00 vs. PAYX: 0.6 )
PAYX' s 10-Year Dividend growth (3y) Range
Min: 0.6   Max: 30
Current: 0.6
0.6
30
Yield on cost (5-Year) 2.75
PAYX's Yield on cost (5-Year) is ranked higher than
83% of the 146 Companies
in the Global Staffing & Outsourcing Services industry.

( Industry Median: 1.88 vs. PAYX: 2.75 )
PAYX' s 10-Year Yield on cost (5-Year) Range
Min: 0.48   Max: 6.2
Current: 2.75
0.48
6.2
Share Buyback Rate -0.1
PAYX's Share Buyback Rate is ranked lower than
53% of the 146 Companies
in the Global Staffing & Outsourcing Services industry.

( Industry Median: 0.00 vs. PAYX: -0.1 )
PAYX' s 10-Year Share Buyback Rate Range
Min: 1.4   Max: -0.3
Current: -0.1

Valuation & Return

vs
industry		 vs
history
Price/Net Current Asset Value 118.1
PAYX's Price/Net Current Asset Value is ranked lower than
92% of the 76 Companies
in the Global Staffing & Outsourcing Services industry.

( Industry Median: 5.50 vs. PAYX: 118.1 )
PAYX' s 10-Year Price/Net Current Asset Value Range
Min: 68   Max: 166.7
Current: 118.1
68
166.7
Price/Tangible Book 13.4
PAYX's Price/Tangible Book is ranked lower than
92% of the 88 Companies
in the Global Staffing & Outsourcing Services industry.

( Industry Median: 2.90 vs. PAYX: 13.4 )
PAYX' s 10-Year Price/Tangible Book Range
Min: 10.5   Max: 23.5
Current: 13.4
10.5
23.5
Price/DCF (Projected) 1.9
PAYX's Price/DCF (Projected) is ranked lower than
74% of the 62 Companies
in the Global Staffing & Outsourcing Services industry.

( Industry Median: 1.00 vs. PAYX: 1.9 )
PAYX' s 10-Year Price/DCF (Projected) Range
Min: 1.1   Max: 3.4
Current: 1.9
1.1
3.4
Price/Median PS Value 0.7
PAYX's Price/Median PS Value is ranked higher than
85% of the 123 Companies
in the Global Staffing & Outsourcing Services industry.

( Industry Median: 1.00 vs. PAYX: 0.7 )
PAYX' s 10-Year Price/Median PS Value Range
Min: 0.6   Max: 2.2
Current: 0.7
0.6
2.2
Price/Graham Number 3.8
PAYX's Price/Graham Number is ranked lower than
86% of the 84 Companies
in the Global Staffing & Outsourcing Services industry.

( Industry Median: 1.40 vs. PAYX: 3.8 )
PAYX' s 10-Year Price/Graham Number Range
Min: 3.1   Max: 8.5
Current: 3.8
3.1
8.5
Earnings Yield (Greenblatt) 6.90
PAYX's Earnings Yield (Greenblatt) is ranked higher than
55% of the 146 Companies
in the Global Staffing & Outsourcing Services industry.

( Industry Median: 6.80 vs. PAYX: 6.90 )
PAYX' s 10-Year Earnings Yield (Greenblatt) Range
Min: 1.4   Max: 11.7
Current: 6.9
1.4
11.7
Forward Rate of Return (Yacktman) 5.25
PAYX's Forward Rate of Return (Yacktman) is ranked higher than
82% of the 146 Companies
in the Global Staffing & Outsourcing Services industry.

( Industry Median: 0.00 vs. PAYX: 5.25 )
PAYX' s 10-Year Forward Rate of Return (Yacktman) Range
Min: -0.7   Max: 21.3
Current: 5.25
-0.7
21.3

Business Description

Paychex, Inc. is a Delaware Corporation. It is a provider of comprehensive payroll and integrated human resource and employee benefits outsourcing solutions for small to medium sized businesses. Its Payroll and Human Resource Services offer a portfolio of services and products that allow the Company's clients to meet their diverse payroll and human resource needs. Paychex's Payroll services are provided through either its Core Payroll or Major Market Services, which include: payroll processing; payroll tax administration services; employee payment services; and other payroll-related services including regulatory compliance. The services are a combination of calculation, preparation, and delivery of employee payroll checks; production of internal accounting records and management reports; and the preparation of federal, state, and local payroll tax returns. Payroll processing clients are charged a base fee each period that payroll is processed, plus a fee per employee check processed. The Company also offers Core Payroll services to its clients and their accountants through Paychex Online. Clients can communicate payroll information through the Internet time sheet or use the online payroll service, and can access current and historical payroll information using Paychex Online Reports. The Company's Human Resource Services mainly include: comprehensive human resource outsourcing services, which include Paychex PremierSM Human Resources and its Professional Employer Organization; retirement services administration; workers' compensation insurance services; health and benefits services; time and attendance solutions; and other human resource services and products. Paychex markets its services mainly through its direct sales force based in the metropolitan markets. In addition to the direct selling and marketing efforts, the Company utilizes relationships with existing clients, certified public accountants, and banks for new client referrals which help in generating approximately two-thirds of its new clients. In addition to traditional payroll processing and human resource service providers, Paychex competes with in-house payroll and human resource systems and departments. Paychex's Human Resource Services products also compete with a variety of providers of human resource services. The ever-changing mandates of federal, state, and local tax and regulatory agencies require the Company to regularly update the proprietary software it utilizes to provide Payroll and Human Resource Services to its clients.
Company Website
SEC Reports
Industry: Staffing & Outsourcing Services
Compare:AHEXY, RANJY, TMH, HAYPY, JOBS
Traded in other countries:PCX.Germany
» More Articles for PAYX

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