Retirement Stock Portfolio: 12 Safe Tech Stocks To Consider

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9. Paychex Inc. (NASDAQ:PAYX)

Beta Value: 0.99

Dividend Yield: 2.82%

Number of Hedge Fund Holders: 34

Paychex Inc. (NASDAQ:PAYX) is a U.S.-based company that specializes in providing human resources, payroll, and employee benefits outsourcing services to small- and medium-sized businesses.

RBC Capital recently raised its price target for Paychex Inc. (NASDAQ:PAYX) shares from $130 to $148, while maintaining a Sector Perform rating. This revision comes on the heels of Paychex’s stronger-than-expected financial performance, which exceeded the company’s conservative revenue estimates. Additionally, Paychex Inc. (NASDAQ:PAYX) has adjusted its revenue forecast for Interest on Funds Held for Clients, projecting a decline due to falling interest rates. For fiscal year 2025, the company expects margins to increase to 42%-43%, up from the previous year, driven by disciplined expense management and strategic investments aimed at promoting profitable growth.

Among the hedge funds tracked by Insider Monkey, New York-based investment firm Select Equity Group stands out as a leading shareholder in Paychex, Inc. (NASDAQ:PAYX), holding 1.49 million shares valued at over $177.65 million.

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