Paychex Inc. [PAYX] fell -15.86% so far this year. What now?


Paychex Inc. [NASDAQ: PAYX] loss -4.20% or -5.03 points to close at $114.85 with a heavy trading volume of 3463149 shares. The company report on June 29, 2022 that Paychex, Inc. Reports Strong Double Digit Service Revenue and Diluted Earnings Per Share Growth for Fourth Quarter and Full Year 2022 Results.

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Paychex, Inc. (the “Company,” “Paychex,” “we,” “our,” or “us”) today announced the following results for the quarter ended May 31, 2022 (the “fourth quarter”) and fiscal year ended May 31, 2022 (“fiscal 2022”), as compared to the corresponding prior-year period:.

It opened the trading session at $116.20, the shares rose to $118.29 and dropped to $112.65, the range by which the price of stock traded the whole day. The daily chart for PAYX points out that the company has recorded -15.46% loss over the past six months. However, it is still -7.79% lower than its most recent low trading price.

If we look at the average trading volume of 1.99M shares, PAYX reached to a volume of 3463149 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Paychex Inc. [PAYX]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PAYX shares is $140.14 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PAYX stock is a recommendation set at 2.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

BofA Securities have made an estimate for Paychex Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on March 09, 2022. While these analysts kept the previous recommendation, Cowen raised their target price from $130 to $145. The new note on the price target was released on January 11, 2022, representing the official price target for Paychex Inc. stock. Previously, the target price had yet another raise to $125, while Citigroup analysts kept a Neutral rating on PAYX stock. On October 05, 2021, analysts increased their price target for PAYX shares from 121 to 125.

The Average True Range (ATR) for Paychex Inc. is set at 3.56, with the Price to Sales ratio for PAYX stock in the period of the last 12 months amounting to 8.83. The Price to Book ratio for the last quarter was 12.61, with the Price to Cash per share for the same quarter was set at 3.91. Price to Free Cash Flow for PAYX in the course of the last twelve months was 67.39 with Quick ratio for the last quarter at 1.30.

Trading performance analysis for PAYX stock

Paychex Inc. [PAYX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.67. With this latest performance, PAYX shares dropped by -7.44% in over the last four-week period, additionally sinking by -15.46% over the last 6 months – not to mention a rise of 6.80% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PAYX stock in for the last two-week period is set at 40.56, with the RSI for the last a single of trading hit 38.65, and the three-weeks RSI is set at 41.79 for Paychex Inc. [PAYX]. The present Moving Average for the last 50 days of trading for this stock 123.03, while it was recorded at 119.43 for the last single week of trading, and 123.08 for the last 200 days.

Paychex Inc. [PAYX]: A deeper dive into fundamental analysis

Paychex Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.30 and a Current Ratio set at 1.30.

Paychex Inc. [PAYX]: An earnings per share (EPS) analysis

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for PAYX. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Paychex Inc. go to 13.32%.

An analysis of insider ownership at Paychex Inc. [PAYX]

There are presently around $30,730 million, or 71.80% of PAYX stock, in the hands of institutional investors. The top three institutional holders of PAYX stocks are: BLACKROCK INC. with ownership of 30,565,936, which is approximately 0.611% of the company’s market cap and around 10.60% of the total institutional ownership; VANGUARD GROUP INC, holding 29,343,942 shares of the stock with an approximate value of $3.52 billion in PAYX stocks shares; and CAPITAL INTERNATIONAL INVESTORS, currently with $1.96 billion in PAYX stock with ownership of nearly 9.692% of the company’s market capitalization.

Positions in Paychex Inc. stocks held by institutional investors increased at the end of June and at the time of the June reporting period, where 615 institutional holders increased their position in Paychex Inc. [NASDAQ:PAYX] by around 15,802,927 shares. Additionally, 653 investors decreased positions by around 13,962,822 shares, while 280 investors held positions by with 226,570,339 shares. The mentioned changes placed institutional holdings at 256,336,088 shares, according to the latest SEC report filing. PAYX stock had 110 new institutional investments in for a total of 1,424,833 shares, while 94 institutional investors sold positions of 1,772,897 shares during the same period.