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Paychex (STU:PCX) Payments on Behalf of Employees


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What is Paychex Payments on Behalf of Employees?

Payments on Behalf of Employees only applicable to companies reporting Cash Flow from Operations in direct method.


Paychex Business Description

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GURUFOCUS.COM » STOCK LIST » Technology » Software » Paychex Inc (STU:PCX) » Definitions » Payments on Behalf of Employees
Address
911 Panorama Trail South, Rochester, NY, USA, 14625-2396
Paychex is a technology company providing human capital management solutions, enabling clients to better implement payroll, talent, time, tax, and benefits administration. It has a diverse set of product offerings addressing client needs. Aside from its traditional cloud-based payroll and HCM software offering, which accounts for close to half of total revenue, the company provides outsourcing options. Paychex's administrative service organization and professional employer organization accounts generate over 40% of sales. The balance of revenue is generated through retirement services, insurance solutions, and other products. In fiscal 2024, the company had 745,000 clients and over 2.3 million worksite employees across its ASO and PEO.