Paychex Makes BUSINESS WEEK's '50 Best Performers' List
ROCHESTER, N.Y., March 30 /PRNewswire/ -- Paychex (Nasdaq: PAYX), a leading U.S. payroll processor for businesses with 1 to 200 employees, was included on BUSINESS WEEK's list of the top 50 performing companies in the Standard & Poor's 500 (S&P 500).
Paychex ranked No. 34 on BUSINESS WEEK's "50 Best Performers" list and received an "A" rating for Total Return (3 year), Sales Growth (1 and 3 year), Profit Growth (1 and 3 year) and Return on Equity (1 year).
BUSINESS WEEK's "50 Best Performers" ranking is based on a company's growth in sales, profits, return to shareholders, consistency, profit margin, and return on equity. Return rates were tallied for one- and three-year time spans. Net margins and return on equity were measured for one year.
According to the editors of BUSINESS WEEK's May 29, 1999 issue, "For No. 34 Paychex, Inc., this outsourcing boom has been the ticket to explosive growth. The company specializes in payroll services, which have grown more complex as government regulation increased ... Nine years ago, it processed only payrolls. Today, it offers everything from 401(k) record-keeping to cafeteria-style benefit plans."
In 1997, BUSINESS WEEK introduced the Performance Ranking and the BUSINESS WEEK 50 list of the best overall performers among the S&P 500 companies. Paychex was added to the S&P 500 in October 1998. |
