07-05-2014, 10:35 PM
(07-05-2014, 11:17 AM)rnsmth Wrote: PAYX will benefit from the continued employment recovery and, when interest rates do increase it will benefit from the float - interest earned from the cash balances that back paychecks that have not yet been deposited.
Can't tell you the exact amount but I think more importantly, the float on withheld taxes that are not immediately deposited in the Treasury. Depending on the size of the employer, some are deposited within 3 days but for many small businesses, they're not required to be deposited until the end of the quarter. I can't remember if they do it monthly or quarterly for the quarterly payers that that's a significant time they hold the money.
Many paychecks are direct deposit nowadays.
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“While the dividend itself is merely a rearrangement of equity, over time it's more like owning an apple tree. The tree grows the apples back again and again and again, and the theoretical value of the tree doesn't change just because of when the apples are about to fall.” - earthtodan
“While the dividend itself is merely a rearrangement of equity, over time it's more like owning an apple tree. The tree grows the apples back again and again and again, and the theoretical value of the tree doesn't change just because of when the apples are about to fall.” - earthtodan