A muddle-through economy and a legacy of high valuation continues to
weigh on shares of small business payroll and human resource (HR)
service provider Paychex (Nasdaq:PAYX).
While the large amount of sell-side skepticism on this stock might
appeal to investors with a contrarian streak, the lack of growth and
momentum are legitimate concerns. Paychex's above-average yield and
strong potential for dividend growth makes it a worthwhile hold, but
it's hard to get excited about this combination of growth and valuation