EXHIBIT 99.1

PRESS RELEASE OF PAYCHEX, INC. DATED APRIL 6, 2021

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Paychex, Inc. Reports Third Quarter Results and Improves Full Year Guidance; Reflects Client Base Growth and Strong Client Retention



Rochester, N.Y. - (April 6, 2021)  -  Paychex, Inc.  (the “Company,” “Paychex,” “we,” “our,” or “us”) today announced the following results for the quarter ended February 28, 2021 (the “third quarter”), as compared to the corresponding prior-year period:

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Total service revenue decreased 2% to $1.1 billion.

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Total revenue decreased 3% to $1.1 billion.

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Operating income was comparable at $468.6 million.

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Diluted earnings per share and adjusted diluted earnings per share(1) each decreased 1% to $0.97 per share and $0.96 per share, respectively.

(1)Adjusted diluted earnings per share is not a United States (“U.S.”) generally accepted accounting principle (“GAAP”) measure. Adjusted diluted earnings per share includes an adjustment for net tax windfall benefits related to employee stock-based compensation payments. Please refer to the “Non-GAAP Financial Measures” section on page 4 of this press release for a discussion of non-GAAP measures and a reconciliation to the U.S. GAAP measure of diluted earnings per share.

Martin Mucci, President and Chief Executive Officer, commented, “Client retention remains strong and at record levels, and our results for the third quarter show that our resilient business model has helped us navigate the uncertainties created by COVID-19. We continue to see progress in our key indicators and remain committed to providing our clients the flexibility, technology, and resources they need to respond and adapt to the uncertainties of the COVID-19 environment.”

Mucci added, “We’re anticipating client needs with solutions that prepare them for what’s next. Our sales, support, product development, and marketing teams carefully listen to customer feedback—bringing to market new tools and technology designed to efficiently manage payroll, staffing, time tracking, and scheduling. Demonstrating our commitment to innovate and meet our client’s needs, we were pleased to receive our fifth consecutive Stevie® Award as a 2021 winner for the Most Valuable COVID-19 Response. Paychex's multifaceted response included our comprehensive COVID-19 Help Center, state-specific resources, educational webinars, product innovations, in-app Paycheck Protection Program tools, specialized employee training, and more. This recognition speaks to the company’s ability to deliver innovative solutions and we will continue to focus on meeting the evolving needs of our clients and the business community.”

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The following information was filed by Paychex Inc (PAYX) on Tuesday, April 6, 2021 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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