Here's Why Paychex (PAYX) is a Strong Growth Stock
It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors.
Achieving those goals is made easier with the Zacks Style Scores, a unique set of guidelines that rates stocks based on popular investing methodologies, namely value, growth, and momentum. The Style Scores can help you narrow down which stocks are better for your portfolio and which ones can beat the market over the long-term.
Why This 1 Growth Stock Should Be On Your Watchlist
Different than value or momentum investors, growth-oriented investors are concerned with a stock's future prospects, and the overall financial health and strength of a company. Thus, they'll want to focus on the Growth Style Score, which analyzes characteristics like projected and historical earnings, sales, and cash flow to find stocks that will see sustainable growth over time.
Paychex (PAYX)
Paychex, Inc. is one of the leading providers of integrated human capital management (“HCM”) solutions for payroll, human resource (“HR”), retirement, and insurance services for small- to medium-sized businesses. The company was incorporated in Delaware in 1979.
PAYX sits at a Zacks Rank #2 (Buy), holds a Growth Style Score of B, and has a VGM Score of B. Earnings and sales are forecasted to increase 10.1% and 8.6% year-over-year, respectively.
Nine analysts revised their earnings estimate upwards in the last 60 days for fiscal 2024. The Zacks Consensus Estimate has increased $0.02 to $4.70 per share. PAYX boasts an average earnings surprise of 2.3%.
Paychex is also cash rich. The company has generated cash flow growth of 8.6%, and is expected to report cash flow expansion of 9.6% in 2024.
PAYX should be on investors' short lists because of its impressive growth fundamentals, a good Zacks Rank, and strong Growth and VGM Style Scores.
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Paychex, Inc. (PAYX) : Free Stock Analysis Report
