5 Biggest Payroll Companies in the World

In this piece, we will take a look at the five biggest payroll companies in the world. For more companies, head on over to 17 Biggest Payroll Companies in the World.

5. Paychex, Inc. (NASDAQ:PAYX)

Latest Revenue Estimate: $4.8 billion

Paychex, Inc. (NASDAQ:PAYX) is a payroll outsourcing company that takes over the payroll function for small and medium sizes businesses. It has hundreds of thousands of customers all over the world and is headquartered in Rochester, New York.

Paychex, Inc. (NASDAQ:PAYX) scored a win in February 2023 when its Retention Insights platform was recognized as a Top New Product Honoree for 2023 by an accounting trade magazine. By the end of Q4 2022, 47 of the 943 hedge funds polled by Insider Monkey had bought the firm’s shares.

Paychex, Inc. (NASDAQ:PAYX)’s largest investor is Robert Joseph Caruso’s Select Equity Group which owns 1.6 million shares that are worth $187 million.

4. Workday, Inc. (NASDAQ:WDAY)

Latest Revenue Estimate: $6.22 billion

Workday, Inc. (NASDAQ:WDAY) is an American software company that is headquartered in Pleasanton, California. The firm provides enterprise payroll management software to conduct audits, generate transactions, run analytics, and send data directly for processing.

Workday, Inc. (NASDAQ:WDAY) is facing the heat these days for its artificial intelligence job software screening tool that is facing allegations of racial and age based bias. 83 of the 943 hedge funds polled by Insider Monkey had bought the firm’s shares in last year’s December quarter.

Workday, Inc. (NASDAQ:WDAY)’s largest investor is Stephen Mandel’s Lone Pine Capital which owns 4.6 million shares that are worth $781 million.

3. Intuit Inc. (NASDAQ:INTU)

Latest Revenue Estimate: $13.6 billion

Intuit Inc. (NASDAQ:INTU) is a software company with a payroll platform that allows employers to generate reports, deposit checks, process payrolls, and file taxes.

Intuit Inc. (NASDAQ:INTU) expanded its global footprint in February 2023 when the firm announced a new tax system for Canadians to allow them to get quick access to their tax refunds. As part of their investments for last year’s fourth quarter, 92 of the 943 hedge funds part of Insider Monkey’s survey had invested in the company.

Out of these, Ken Fisher’s Fisher Asset Management is Intuit Inc. (NASDAQ:INTU)’s largest shareholder. It owns 2.4 million shares that are worth $939 million.

2. Automatic Data Processing, Inc. (NASDAQ:ADP)

Latest Revenue Estimate: $16.6 billion

Automatic Data Processing, Inc. (NASDAQ:ADP) is a diversified human resources company that offers both outsourcing and a software platform for firms to use. It is based in Roseland, New Jersey.

Automatic Data Processing, Inc. (NASDAQ:ADP) had some good news for investors in February 2023 when it announced that it has been named one of Fortune Magazine’s most admired companies for 2023. 49 of the 943 hedge funds part of Insider Monkey’s Q4 2022 survey had bought the firm’s shares.

Automatic Data Processing, Inc. (NASDAQ:ADP)’s largest investor in our database is Terry Smith’s Fundsmith LLP which owns 5.5 million shares that are worth $1.3 billion.

1. SAP SE (NYSE:SAP)

Latest Revenue Estimate: $30.8 billion

SAP SE (NYSE:SAP) is a diversified enterprise resource management software provider. The firm’s core HR and payroll software lets firms track attendance, run analytics, monitor and manage payroll, and raise tickets.

SAP SE (NYSE:SAP) is another company feeling the heat from inflation as the firm announced in February 2023 that it will reduce up to 3,000 jobs in its customer management division. Insider Monkey dug through 943 hedge fund portfolios and found out that 18 had invested in the firm in Q4 2022.

Ken Fisher’s Fisher Asset Management is SAP SE (NYSE:SAP)’s largest investor. It owns 6.5 million shares that are worth $674 million.

Disclosure: None. You can also take a look at 10 Hot Healthcare Stocks To Buy Now and 12 Most Promising Small Cap Stocks.

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