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Opinions David Driscoll
PaychexPAYXTOP PICKAug 25, 2016
David DriscollStock price when the opinion was issued
As of Jun 18, 2026. Market Open.
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Premium contentPaychex, inc. (nasdaq: payx) is a leading provider of integrated human capital management solutions for payroll, hr, retirement, and insurance services. by combining its innovative software-as-a-service technology and mobility platform with dedicated, personal service, paychex empowers small- and medium-sized business owners to focus on the growth and management of their business. backed by 45 years of industry expertise, paychex serves approximately 605,000 payroll clients across more than 100 locations and pays one out of every 12 american private sector employees.
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.
David Driscoll
David DriscollDavid Driscoll
If interest rates were to rise, this is a payroll processor that gets to bank $3.5 billion of other people’s money over the weekend before they remit back to the IRS. For every .25% that interest rates rise, this makes $7.5 million in free money. On top of that, they also provide H&R services, time management, 401K programs as well as health benefit supplements under the Obama program, for all the small and medium-sized businesses. Have been growing at about 5%-6%, and are now starting to grow by 8%-10%, because non-payroll stuff has a greater growth platform. Dividend yield of 3%.