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Stock Analyst Update

Pricey Paychex Produces Predictable Profits

Add-on services are driving the company's growth rate.

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After nine consecutive years of earnings growth in excess of 36%, Paychex (PAYX) continues to impress investors with its amazing consistency. This is a stock every investor should keep on the radar screen.

In its fiscal fourth quarter, ended May 31, earnings per share increased 40% on a 26% increase in revenues. For the full fiscal year, Paychex's revenues and earnings increased 22% and 37%, respectively.

Mark Sellers does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.