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Expect Paychex to Reinvest More

Shares of the wide-moat firm are significantly overvalued and do not reflect the modest rise in competition.

Wide-moat

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About the Author

Colin Plunkett

Equity Analyst
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Colin Plunkett, CFA, is an equity analyst for Morningstar Research Services LLC, a wholly owned subsidiary of Morningstar, Inc. He covers banks and financial technology firms.

Before joining Morningstar in 2016, Plunkett was an equity research analyst for First Trust Portfolios. Previously, he worked in operations for Northern Trust and as a financial advisor for Merrill Lynch.

Plunkett holds a bachelor’s degree in business administration from Marquette University and a master’s degree in international accounting and finance from Cass Business School. He also holds the Chartered Financial Analyst® designation.

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