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PaychexPAYXTOP PICKNov 20, 2012Stock price when the opinion was issued
As of Jun 18, 2026. Market Open.
Since 1995, has returned 14% annually. Margins have been growing as they've grown beyond payroll processing among small/medium-sized businesses, which offer growth. They benefitted from higher interest rates. He continues to buy it, though it's currently expensive. They project 6-8% revenue growth but will be hit if the economic weakens or rates decline.
Payroll company for small to medium size business segment. Increased dividend for last15 years. 4% dividend. As employment increases this will continue to grow. No debt. As interest rates increase they can get yield on the very large float they carry.