Send me real-time posts from this site at my email

Paychex (PAYX) to Gain From Flock Acquisition: Here's How

Paychex, Inc.PAYX recently announced that it has completed the purchase of Flock, a San Francisco-based provider of benefits enrollment and administration, onboarding, and human resources information system. Financial terms of the deal have been kept under wraps.

The acquisition brings Flock’s benefits administration software, which is specialized in boosting innovation and delivering a suite of digital services, to Paychex’s portfolio. All Flock employees will be joining Paychex.

Paychex’s human resource (“HR”) software, coupled with the benefits administration functionality of Flock, should help employers increase efficiency and deal with the various HR challenges that have come up amid this pandemic situation.

Martin Mucci, president and CEO at Paychex, stated, "Paychex provides HR services to more than 1.7 million worksite employees and is among the 30 largest insurance agencies in the U.S. The combination of Paychex's full-service HR and benefits capabilities and Flock's innovative platform will position us for continued growth and expansion in the marketplace."

Considering the present competitive employment scenario and the increasing demand for an efficient benefits administration facility aimed at driving efficiency and automating tasks, the latest deal seems to be a strategic move on Paychex’s part to expand its HR services business and strengthen its competitive position against names like Automatic Data Processing, Inc. ADP, Barrett Business Services, Inc. BBSI and TriNet Group, Inc. TNET.

Infrastructure Stock Boom to Sweep America

A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made.

The only question is “Will you get into the right stocks early when their growth potential is greatest?”

Zacks has released a Special Report to help you do just that, and today it’s free. Discover 7 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.

Download FREE: How to Profit from Trillions on Spending for Infrastructure >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Paychex, Inc. (PAYX): Free Stock Analysis Report
Automatic Data Processing, Inc. (ADP): Free Stock Analysis Report
Barrett Business Services, Inc. (BBSI): Free Stock Analysis Report
TriNet Group, Inc. (TNET): Free Stock Analysis Report
To read this article on click here.
Zacks Investment Research

Welcome! Is it your First time here?

What are you looking for? Select your points of interest to improve your first-time experience:

Apply & Continue