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Paychex (PAYX) Final Archive

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By admiraltroll
September 25, 2003

Posts selected for this feature rarely stand alone. They are usually a part of an ongoing thread, and are out of context when presented here. The material should be read in that light. How are these posts selected? Click here to find out and nominate a post yourself!

Hi Collective,

Here is the final archive of our Paychex Research. I had originally intended to write a synopsis of the research but there is no way I had the time to go through this volume of material and decide what should be included or left out.

Summarizing in a quick sentence I believe that the consensus would be "great company but a somewhat overvalued stock at this time".

For those reading who are not aware there where some 25 or so contributors to this research and some outstanding contributions. In many cases I would recommend clicking on the "whole thread" function to see the depth of discussion.

Original Volunteers - note many more, such as madmarv, quasie & scoopshot, have jumped in after the research got started.

1. Introduction

2. Products & Services

3.Preliminary market findings

4. Industry Analysis

5. Competition /Threats to Entry/ Competitive Advantage

6. Management & Corporate Governance

7. Executive Compensation

8. Employee Stock Options (ESO's)

9. Corporate Culture

10. Human Capital

11. Scuttlebutt

12. Financial analyses (check whole thread here)

13. Valuation Analyses

14. Conclusions and the Future

Other Posts and Links

AKJunkie lists Payx articles links
Jordrok Payx links
Philip links analyst report by Coolprash
Maeve's links to Payx
Jordrok Payx links
David's LeBeancountiere Warren buffet like ADP link
Jordrok's links Fortune article
Jordrok links two more articles
Extra links
A bit of TA from adiabatic
BabyFrogs thoughts on channel stuffing in service industries


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