15 Best NASDAQ Stocks to Buy According to Hedge Funds

Page 5 of 14

10. Paychex Inc. (NASDAQ:PAYX)

Paychex Inc. (NASDAQ:PAYX) is one of the best NASDAQ stocks to buy according to hedge funds. On February 26, Paychex announced new AI-driven advancements within its Paycor and Paychex Flex platforms, aimed at streamlining workforce management for businesses. These updates focus on automating complex HR tasks such as scheduling, time and attendance, and payroll preparation.

According to research cited by the company, these types of modern automation tools can significantly improve operational efficiency, potentially returning over $12 for every dollar invested and reducing scheduling time by up to 50%. The latest technological enhancements include the Paycor Smart Scheduler, which uses AI to match employee skills and availability to specific shifts while adhering to business rules.

Another key feature, Paycor Agentic Timesheet Approvals, automatically scores timecards against set thresholds and flags only anomalies for human review, accelerating the pre-payroll process. Additionally, the Paycor Auto-Shifts tool helps managers create optimized shift plans that account for labor laws and fair-workweek regulations to reduce manual errors.

For users of the Paychex Flex platform, new AI-powered time-off tools provide historical insights to help managers identify peak leave periods and staffing conflicts. Paychex Inc. (NASDAQ:PAYX) also previewed an upcoming Time-Off Request Agent, which will offer assistant-guided recommendations for leave requests based on holidays and staffing levels.

Paychex Inc. (NASDAQ:PAYX), together with its subsidiaries, provides human capital management solutions /HCM for payroll, employee benefits, HR, and insurance services for small to medium-sized businesses in the US, Europe, and India.

Page 5 of 14