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D

David

Managing Director and Senior Equity Analyst at RBC Capital Markets, LLC

Philadelphia, PA, US

David Novak is a Managing Director and Senior Equity Analyst at RBC Capital Markets, specializing in the coverage of the oil and gas exploration and production (E&P) sector. He covers major companies such as ConocoPhillips, EOG Resources, Devon Energy, and Marathon Oil, and has established a notable track record for producing actionable investment research, with a published success rate of over 61% and high average returns across his stock recommendations according to independent analyst rankings. David started his career in equity research at Jefferies in 2005 before joining RBC Capital Markets in 2012, and he is a CFA charterholder and registered with FINRA, holding Series 7, 63, 86, and 87 licenses. Recognized for his sharp insights and industry expertise, David has consistently been ranked among the top analysts in his sector by platforms like TipRanks.

David's questions to Hagerty (HGTY) leadership

Question · Q4 2025

David asked about the pipeline for new potential partners beyond the current ongoing partnerships, seeking insights into future growth opportunities.

Answer

CEO McKeel Hagerty highlighted that partnerships are a significant part of Hagerty's growth story, noting the new Liberty Mutual and Safeco partnership as a 'double win.' He confirmed active discussions with other larger, smaller, and mid-tier insurance partners, as well as exploring different types of partnerships for new, chunky opportunities, with more announcements expected in the future.

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Fintool can predict Hagerty logo HGTY's earnings beat/miss a week before the call

David's questions to PAYCHEX (PAYX) leadership

Question · Q1 2026

David asked about Paychex's perspective on the regulatory environment, including potential government shutdowns and H1B changes, and how the business is positioned to navigate these factors.

Answer

President and CEO John Gibson stated that Paychex's small business clients are resilient, with no heavy concentration in government sectors or significant internal H1B visa issues, thus expecting no direct impact. He highlighted a stable small and medium-sized business market with consistent employment and moderating wage inflation (below 3% for 18 quarters). Gibson noted that clarity on the tax bill and initial Fed rate cuts are supporting renewed business confidence and investment decisions.

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Fintool can predict PAYCHEX logo PAYX's earnings beat/miss a week before the call

Question · Q1 2026

David asked about Paychex's perspective on the current regulatory environment, including potential government shutdowns and H1B changes, and how the business is positioned to navigate these factors.

Answer

President and CEO John Gibson stated that Paychex's small business clients are resilient, and the company does not have a heavy concentration with the federal government or significant internal H1B visa issues, thus not expecting direct impacts. He noted a stable small business environment with consistent employment and wage inflation below 3%. Mr. Gibson believes clarity from the tax bill and initial Fed rate cuts will support renewed business confidence and investment.

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Fintool can write a report on PAYCHEX logo PAYX's next earnings in your company's style and formatting