Jobs

Sudden Excitement in Jobs & Staffing Companies (PAYX, ADP, MWW, MAN, CTAS, KFY)

After a long period of unemployment, any upside to the jobs numbers at any point offers a helping hand to the stocks of companies that revolve around the jobs market.  That is payroll services, online job search destinations, career management, uniform makers, and even head hunters.  So it is no surprise that we are seeing a move higher in stocks such as Paychex Inc. (NASDAQ: PAYX), Automatic Data Processing, Inc. (NYSE: ADP), Monster Worldwide, Inc. (NYSE: MWW), Manpower Inc. (NYSE: MAN), Cintas Corporation (NASDAQ: CTAS), and even in Korn/Ferry International (NYSE: KFY).

Paychex Inc. (NASDAQ: PAYX), a payroll services company, is up 1.7% at $26.45 versus a 52-week range of $24.65 to $32.88.

Automatic Data Processing, Inc. (NYSE: ADP), another payroll services company, is up 1.55% at $40.31 versus a 52-week range of $26.46 to $45.74.

Monster Worldwide, Inc. (NYSE: MWW), the top online destination for those looking for jobs, is up a sharp 5.77% at $12.19 versus a 52-week range of $10.01 to $19.28.

Manpower Inc. (NYSE: MAN), a key recruiting and labor outsource firm, is up 2.7% at $48.09 versus a 52-week range of $39.94 to $63.00.

Cintas Corporation (NASDAQ: CTAS), which is the go-to name for uniforms and other corporate employee services, is trading up 1.8% at $27.15 versus a 52-week range of $23.10 to $30.85.

Korn/Ferry International (NYSE: KFY), an executive recruiting firm, a.k.a. head-hunter, is up 2.8% at $14.74 versus a 52-week range of $12.57 to $18.62.

What is interesting here about this sector is that there is generally an improving environment for companies like these.  There is high demand for good temporary workers and this creates more demand for these services.  The stocks have also underperformed the broad market and many of these are still very close to 52-week lows.

JON C. OGG

Want to Retire Early? Start Here (Sponsor)

Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?

Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.

Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.