Paychex stock currently trades at $118 per share, around 16% below its level of $141 seen on April 6, 2022 (pre-inflation shock high), and has the potential for gains. In comparison, the company's peer ADP stock has remained roughly flat over the same period.
Paychex (PAYX) exhibits strength driven by robust top-line growth and a commanding position in the outsourcing market. Higher expenses remain a concern.