Martin Mucci | President and CEO |
Efrain Rivera | CFO |
Ramsey El-Assal | Barclays |
Kevin McVeigh | Credit Suisse |
James Berkley | Wolfe Research |
David Togut | Evercore ISI |
Steven Wald | Morgan Stanley |
Andrew Nicholas | William Blair |
Jason Kupferberg | Bank of America |
Tien-tsin Huang | JP Morgan |
Bryan Keane | Deutsche Bank |
Kartik Mehta | Northcoast Research |
Lisa Ellis | MoffettNathanson |
Bryan Bergin | Cowen |
Samad Samana | Jefferies |
Jeff Silber | BMO Capital Markets |
David Grossman | Stifel |
Mark Marcon | Baird |
Matt O'Neill | Autonomous Research |
Ladies and gentlemen, thank you for standing by and welcome to the Paychex Second Quarter FY20 Earnings Conference Call. At this time all participants are in a listen only mode. After the speaker presentation, there will be a question-and-answer session. [Operator instructions] Please be advised that today's conference is being recorded. [Operator instructions]