Is Paychex Stock Underperforming the Nasdaq?

Rochester, New York-based Paychex, Inc. (PAYX) provides integrated human capital management solutions (HCM) for payroll, benefits, human resources (HR), and insurance services for small to medium-sized businesses. With a market cap of $48.7 billion, Paychex's operations span the United States, Europe, and internationally.

Companies worth $10 billion or more are generally described as "large-cap stocks." Paychex fits this bill perfectly. Given the company’s extensive clientele, its valuation above this mark is not surprising. The company serves hundreds of thousands of customers worldwide, helping them manage their human resources, payroll, and benefits.