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U.S. HR Services Industry Analysis

UpdatedMar 19, 2026
DataAggregated Company Financials
Companies42
  • 7D-2.8%
  • 3M-22.4%
  • 1Y-35.9%
  • YTDn/a

Over the last 7 days, the HR Services industry has dropped 1.9%, driven by Automatic Data Processing declining 3.5%. In contrast, Insperity has gained 18%. However, the industry is down 35% over the past year. As for the next few years, earnings are expected to grow by 11% per annum.

Industry Valuation and Performance

Has the U.S. HR Services Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 19 Mar 2026US$151.3bUS$80.2bUS$4.0b17.8x38x1.9x
Sat, 14 Feb 2026US$153.5bUS$80.1bUS$4.9b20.2x31.6x1.9x
Mon, 12 Jan 2026US$207.8bUS$86.5bUS$5.0b21.8x41.6x2.4x
Wed, 10 Dec 2025US$205.3bUS$87.4bUS$5.0b19.7x40.7x2.3x
Fri, 07 Nov 2025US$207.8bUS$87.3bUS$5.0b22.3x41.7x2.4x
Sun, 05 Oct 2025US$230.4bUS$86.6bUS$6.3b27.6x36.6x2.7x
Tue, 02 Sep 2025US$245.5bUS$86.9bUS$6.2b30.2x39.6x2.8x
Thu, 31 Jul 2025US$240.3bUS$85.0bUS$6.7b25.4x35.9x2.8x
Sat, 28 Jun 2025US$230.1bUS$79.8bUS$6.7b30.8x34.2x2.9x
Mon, 26 May 2025US$246.6bUS$79.7bUS$6.8b32.3x36.2x3.1x
Wed, 23 Apr 2025US$220.2bUS$79.0bUS$6.9b21.7x31.8x2.8x
Fri, 21 Mar 2025US$239.0bUS$80.0bUS$6.7b27.2x35.7x3x
Sun, 16 Feb 2025US$247.1bUS$81.0bUS$6.7b23.2x37.1x3.1x
Tue, 14 Jan 2025US$238.5bUS$85.7bUS$6.7b23.9x35.7x2.8x
Thu, 12 Dec 2024US$252.7bUS$85.7bUS$6.7b26.8x37.9x2.9x
Sat, 09 Nov 2024US$255.1bUS$85.7bUS$6.6b27.2x38.4x3x
Mon, 07 Oct 2024US$230.2bUS$81.4bUS$6.2b25.5x37.1x2.8x
Wed, 04 Sep 2024US$222.3bUS$81.4bUS$6.2b23.3x35.9x2.7x
Fri, 02 Aug 2024US$216.8bUS$81.3bUS$6.2b23.6x35.2x2.7x
Sun, 30 Jun 2024US$204.2bUS$87.4bUS$6.6b20.7x31.1x2.3x
Tue, 28 May 2024US$216.3bUS$87.6bUS$6.5b23.1x33.5x2.5x
Thu, 25 Apr 2024US$218.2bUS$87.1bUS$6.1b24x35.6x2.5x
Sat, 23 Mar 2024US$222.5bUS$87.4bUS$6.3b25.3x35.2x2.5x
Mon, 19 Feb 2024US$225.6bUS$87.3bUS$6.4b26.8x35.3x2.6x
Wed, 17 Jan 2024US$215.0bUS$87.3bUS$6.4b26.5x33.8x2.5x
Fri, 15 Dec 2023US$221.6bUS$87.2bUS$6.3b27.8x35x2.5x
Sun, 12 Nov 2023US$204.3bUS$87.2bUS$5.8b24.3x34.9x2.3x
Tue, 10 Oct 2023US$232.3bUS$92.1bUS$6.3b20.1x36.9x2.5x
Thu, 07 Sep 2023US$234.5bUS$92.0bUS$6.2b20.8x37.9x2.5x
Sat, 05 Aug 2023US$234.7bUS$92.1bUS$6.2b18.4x37.7x2.5x
Mon, 03 Jul 2023US$219.9bUS$91.8bUS$6.3b16.6x34.9x2.4x
Wed, 31 May 2023US$206.5bUS$91.8bUS$6.3b15.4x32.7x2.3x
Fri, 28 Apr 2023US$172.7bUS$87.2bUS$6.0b12.3x28.7x2x
Sun, 26 Mar 2023US$173.0bUS$87.3bUS$6.0b12.7x28.8x2x
Price to Earnings Ratio

28.8x


Total Market Cap: US$173.0bTotal Earnings: US$6.0bTotal Revenue: US$87.3bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. HR Services Industry Price to Earnings3Y Average 35.7x202420252026
Current Industry PE
  • Investors are optimistic on the American Human Resource and Employment Services industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 38.9x which is higher than its 3-year average PE of 35.7x.
  • The 3-year average PS ratio of 2.6x is higher than the industry's current PS ratio of 1.9x.
Past Earnings Growth
  • The earnings for companies in the Human Resource and Employment Services industry have declined 13% per year over the last three years,
  • Revenues have also declined 2.8% per year.
  • This means overall sales from these companies are declining and profits are subsequently falling as well.

Industry Comparison

How does U.S. HR Services compare with similar industries?

US Market-2.19%
Industrials-2.66%
Professional Services-2.43%
HR Services-2.79%
Research and Consulting Services-1.78%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
NSP InsperityUS$23.0816.0%
+US$120.0m		-74.6%PS0.1x
TNET TriNet GroupUS$37.363.2%
+US$54.9m		-52.8%PE11.4x
UPWK UpworkUS$12.091.9%
+US$30.0m		-10.1%PE13.7x
BBSI Barrett Business ServicesUS$28.154.1%
+US$28.2m		-31.5%PE13x
YOUL Youlife GroupUS$1.1516.2%
+US$12.2m		n/aPS0.4x

Latest News

BZ
US$13.69
Kanzhun
7D
-4.8%
1Y
-33.4%
BBSI
US$28.15
Barrett Business Services
7D
4.1%
1Y
-31.5%
UPWK
US$12.09
Upwork
7D
1.9%
1Y
-10.1%

UPWK: AI Workflows And Buybacks Will Support Long-Term Enterprise And SMB Gains

The analyst price target for Upwork has been reset from $23.90 to $21.70 as analysts factor in updated discount rate assumptions and P/E expectations following a series of recent target revisions across major firms. Analyst Commentary Recent Street research on Upwork clusters around target cuts from multiple firms, with only one target increase, reflecting a mixed reaction to current valuation and execution risks.
ALIT
US$0.68
Alight
7D
-27.1%
1Y
-88.9%

ALIT: Higher Margins And Execution Improvements Will Support Future Share Recovery

Analysts have sharply reduced Alight's average price targets, with changes from $6.50 to $1, $5 to $3, $6 to $2.50, and $1.40 to $0.50, while one fair value estimate is maintained around $2.70. These revisions reflect concerns about weaker renewals, softer project activity, margin pressure from growth investments, and limited near term visibility after recent earnings and guidance updates.
PAYX
US$90.64
Paychex
7D
-3.6%
1Y
-38.6%

AI Adoption And HCM Data Scale Will Reshape This Payroll Leader’s Long-Term Potential

Catalysts About Paychex Paychex provides payroll, HR, benefits and HCM technology solutions to small and midsize businesses across its Paychex Flex, SurePayroll and Paycor platforms. What are the underlying business or industry changes driving this perspective?
NSP
US$23.08
Insperity
7D
16.0%
1Y
-74.6%
ADP
US$208.28
Automatic Data Processing
7D
-2.2%
1Y
-30.3%

ADP: Dividend Strength And AI HR Execution Will Support Premium P/E

Analysts have trimmed their average price target on Automatic Data Processing by about $5 to $272. This reflects slightly softer revenue growth assumptions, a modestly higher discount rate, and only a small adjustment to long term P/E expectations, despite relatively steady margin forecasts.
PAYC
US$124.49
Paycom Software
7D
-4.5%
1Y
-42.7%

PAYC: Early 2026 Buybacks And Governance Changes Will Support Future Upside

Analyst fair value for Paycom has been revised slightly higher to $152.94 from $151.18, as analysts factor in the recent $135 and $150 price target increases and highlight the company's sizable early 2026 buyback activity as a sign of management confidence at current share levels. Analyst Commentary Analysts are reacting to Paycom's recent buyback activity and past target cuts with a mix of cautious optimism and lingering concern, which is showing up in a wide range of valuation views.
KFY
US$60.48
Korn Ferry
7D
-3.2%
1Y
-10.8%

KFY: LA28 Partnership And Solid Executive Search Demand Will Support Future Upside

Narrative Update The analyst price target for Korn Ferry has been reduced by about $6, with analysts pointing to lower sector multiples and updated fair value and P/E assumptions, even as they highlight solid recent results, steady executive search demand growth and supportive buybacks. Analyst Commentary Recent research highlights a mixed but generally constructive view on Korn Ferry, with price targets moving lower mainly on sector-wide valuation resets rather than company specific issues.
PCTY
US$109.72
Paylocity Holding
7D
-3.6%
1Y
-42.5%

PCTY: 2026 Software Setup And Buybacks Will Support Upside Potential

Analyst price targets for Paylocity Holding have been reset lower, with a series of cuts ranging from $5 to $75 as analysts factor updated macro assumptions, sector-wide software rerating, and company specific expectations into their models. Analyst Commentary Despite the latest round of lower price targets, some bullish analysts are still highlighting areas where they see potential upside for Paylocity, particularly around execution and the setup for software over the next couple of years.
FA
US$10.65
First Advantage
7D
-5.1%
1Y
-22.9%

FA: Buyback Plan And 2026 Guidance Will Support Balanced Outlook

Analysts have trimmed their price target on First Advantage from $14.19 to $13.00, reflecting updated views on fair value, discount rate assumptions, revenue growth expectations, profit margins, and the P/E multiple they are willing to apply. What's in the News First Advantage issued full year 2026 earnings guidance, with revenue expected in a range of US$1.625b to US$1.7b (company guidance).
TNET
US$37.36
TriNet Group
7D
3.2%
1Y
-52.8%

TNET: AI HR Execution And Buybacks Will Support Future Multiple Expansion

Analysts have trimmed their price expectations for TriNet Group, with the fair value estimate moving from about $70 to roughly $55, citing updated assumptions around discount rates, revenue trends, profit margins, and a lower future P/E multiple that align with recent target cuts from the Street. Analyst Commentary Recent Street updates on TriNet Group focus on recalibrated price targets and refreshed estimates ahead of upcoming results, which feed directly into the lower fair value range you saw earlier.
JOB
US$0.26
GEE Group
7D
9.3%
1Y
22.3%
NIXX
US$0.67
Nixxy
7D
18.0%
1Y
-68.2%
DLHC
US$6.02
DLH Holdings
7D
5.8%
1Y
27.0%
YOUL
US$1.15
Youlife Group
7D
16.2%
1Y
n/a