12 Best NASDAQ Stocks to Buy for Dividends

8. Paychex, Inc. (NASDAQ:PAYX)

Number of Hedge Fund Holders: 43

Dividend Yield as of June 25: 4.92%

Next on our list of the Best Dividend Stocks on NASDAQ is Paychex, Inc. (NASDAQ:PAYX). It is a leading provider of integrated human capital management solutions for payroll, benefits, human resources, and insurance services.

Paychex, Inc. (NASDAQ:PAYX) announced its Q4 2026 results on June 24. The company reported adjusted earnings of $1.32 per share, narrowly beating expectations by $0.01. Revenue also grew by 12.5% YoY to $1.61 billion and was roughly in line with estimates

Meanwhile, Paychex delivered a 17% YoY growth in revenue to $6.5 billion in full-year 2026, while operating cash flow increased 35% to $2.6 billion and free cash flow surged by 36% to $2.3 billion.

Paychex, Inc. (NASDAQ:PAYX) is now targeting a revenue growth of 5% to 6% in FY 2027, implying revenue of $6.84 billion – $6.90 billion. At the same time, the company expects its adjusted EPS to grow in the range of 7% to 9%, while adjusted operating margin is projected to be around 44%, up from 43.2% in the prior year.