5 Best Staffing Company Stocks To Buy Now

In this article we take a look at 5 best staffing company stocks. To see more such companies click 12 Best Staffing Company Stocks To Buy Now.

5. Paychex, Inc. (NASDAQ:PAYX)

Number of Hedge Fund Investors: 47

New York-based Paychex, Inc. (NASDAQ:PAYX) provides payroll and HR-related services. In March, Paychex, Inc. (NASDAQ:PAYX) posted strong fiscal Q3 results. Adjusted EPS in the quarter came in at $1.29, beating estimates by $0.05. Revenue in the quarter jumped 7.8% year over year to reach $1.38 billion, beating estimates by $30 million.

 For 2023, the company expects its Management Solutions segment revenue to increase by 8%.

The stock is also a solid dividend payer. In February, UBS shared a list of stocks picked up by its machine learning model. PAYX made it to the list. UBS said these stocks offer “greater downside protection, have stronger pricing power, trade at a 15-20% valuation discount vs the market and the payout ratio (45%) is 5 ppts below average implying upside to dividend growth.”

As of the end of the fourth quarter of 2022, 47 hedge funds tracked by Insider Monkey had stakes in the company.