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November 23, 2009 10:46 AM ET

Paychex Inc. (PAYX:NASDAQ)

LAST $31.76 USD
CHANGE TODAY +0.71 2.29%
VOLUME 701.6K
As of 10:31 AM 11/23/09 All times are local (Market data by Reuters is delayed by at least 15 minutes).

Snapshot of Paychex Inc. (PAYX)

OPEN
$31.53
PREVIOUS CLOSE
$31.05
DAY HIGH
$31.85
DAY LOW
$31.29
52 WEEK HIGH
11/23/09 - $31.85
52 WEEK LOW
03/3/09 - $20.31
MARKET CAP
11.5B
AVERAGE VOLUME 3 mo
3.1M
DILUTED EPS TTM
$1.41
SHARES OUTSTANDING
361.4M
EX-DATE
10/29/09
P/E TTM
22.6x
DIVIDEND
$1.24
DIVIDEND YIELD
3.90%
K = Thousands  M = Millions  B = Billions

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PAYX Details

Paychex, Inc., together with its subsidiaries, provides payroll, human resource, and benefits outsourcing solutions for small- to medium-sized businesses in the United States and Germany. It offers payroll processing services, which include 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. The company also provides payroll tax administration services; employee payment services; and regulatory compliance services, such as new-hire reporting and garnishment processing. Its human resource outsourcing services include payroll, employer compliance, human resource and employee benefits administration, risk management outsourcing, and the on-site availability of a professionally trained human resource representative. In addition, the company offers retirement services administration; workers’ compensation insurance services; health and benefits services; time and attendance solutions; and other human resource services and products. It also operates a professional employer organization. As of May 31, 2009, the company served approximately 554,000 clients in the United States; and 1,600 clients in Germany. Paychex, Inc. was founded in 1971 and is headquartered in Rochester, New York.

12,500 Employees
Founded in 1971

PAYX Top Compensated Officers

Chief Executive Officer, President, Director ...
Age: 55
Total Annual Compensation: $915.0K
Chief Financial Officer, Principal Accounting...
Age: 61
Total Annual Compensation: $435.6K
Senior Vice President of Operations
Age: 49
Total Annual Compensation: $423.9K
Vice President of Organizational Development
Age: 62
Total Annual Compensation: $303.8K
Vice President of Information Technology
Age: 55
Total Annual Compensation: $326.8K
Compensation as of Fiscal Year 2009.

Key developments for Paychex Inc. (PAYX)

Temporary Employee Sues Paychex Inc. for Violating the Family and Medical Leave Act

In an employment discrimination case, the plaintiff alleged violations of the Family and Medical Leave Act, including retaliation. The case is now before the court on the defendant's motion for summary judgment. Paychex Inc. hired the plaintiff in January 2005 as a temporary employee. She worked as a human resources services specialist in the content management department at the company's John Street facility in Henrietta performing various clerical tasks, including data entry and scanning documents. The plaintiff's argument is that because the company knew of her son's autism and she took time off, and because the company suggested she apply for FMLA leave, the company must have known that the time she took off, particularly June 6, 7 and 8, 2007, pertained to her son's illness. The defendant's motion is granted. At the summary judgment stage, the plaintiff must show she gave sufficient notice of her need for FMLA leave. The plaintiff failed to produce evidentiary proof, in an admissible form, that she ever did so. The plaintiff did not establish a prima facie case of a FMLA violation. As to the retaliation claim, the plaintiff never was engaged in a protected activity since, despite being offered the opportunity to do so, she never exercised her rights under the FMLA.

Paychex Inc. Announces Executive Appointments

Paychex Inc. announced new leadership roles for two long-time senior sales managers in its Human Resource Services division. Janice A. Nearen-Bell has been named the company's vice president of Human Resource Services (HRS) Sales for the Northern United States. Nearen-Bell, a 26-year veteran of Paychex, had served as area vice president of HRS Sales since 2006. Lonny C. Ostrander has been appointed vice president of Human Resource Services Sales for the Southern United States. Ostrander, who joined Paychex in 1990, most recently served as area vice president of HRS Sales, a position he assumed in 2005. Additionally, Nearen-Bell and Ostrander have been named officers of the company. Nearen-Bell and Ostrander succeed Tony Tortorella, who has left Paychex to pursue other opportunities.

Paychex Inc. Announces Management Appointments

Paychex Inc. announced new leadership roles for two long-time senior sales managers in its Human Resource Services division. Janice A. Nearen-Bell has been named the company's vice president of Human Resource Services (HRS) Sales for the Northern United States. Nearen-Bell, a 26-year veteran of Paychex, had served as area vice president of HRS Sales since 2006. Lonny C. Ostrander has been appointed vice president of Human Resource Services Sales for the Southern United States. Ostrander, who joined Paychex in 1990, most recently served as area vice president of HRS Sales, a position he assumed in 2005. Additionally, Nearen-Bell and Ostrander have been named officers of the company.

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2007  #40

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PAYX

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Type
Date
Target
Merger/Acquisition
October 14, 2009
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Bankruptcy
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