5 Best Staffing Company Stocks To Buy Now

3. Paychex, Inc. (NASDAQ:PAYX)

Number of Hedge Fund Holders: 37

Paychex, Inc. (NASDAQ:PAYX) is a leading provider of payroll and human resource solutions for small- and medium-sized businesses. The company offers a comprehensive suite of services, including payroll processing, human resource management, and benefits administration. Paychex, Inc. (NASDAQ:PAYX) has a long track record of delivering quality services and has a strong reputation in the industry. The company has a strong cash position and is awarding stockholders with a hefty dividend. Paychex, Inc. (NASDAQ:PAYX) ranks among the 5 best staffing stocks to invest in now and has free cash flows of $1.35 billion. The stock is offering a forward dividend yield of 2.77% to investors, as of October 26.

On September 29, Credit Suisse analyst Kevin McVeigh revised his price target on Paychex, Inc. (NASDAQ:PAYX) to $138 from $150 and maintained an Outperform rating on the shares. This September, Cowen analyst Bryan Bergin raised his price target on Paychex, Inc. (NASDAQ:PAYX) to $132 from $125 and reiterated an Outperform rating on the shares.

At the close of Q2 2022, 37 hedge funds were eager on Paychex, Inc. (NASDAQ:PAYX) and held stakes worth $678.5 million in the company. Of those, Select Equity Group was the top investor in Paychex, Inc. (NASDAQ:PAYX) and disclosed stakes of $243.6 million in the company.