VP/Controller Schrader Robert L. sale 545 shares of Paychex Inc. [PAYX]

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Paychex Inc. shares valued at $68,986 were sold by Schrader Robert L. on Aug 01. At $126.58 per share, Schrader Robert L. sold 545 shares. The insider’s holdings dropped to 8,871 shares worth approximately $1.05 million following the completion of this transaction.


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Also, RIVERA EFRAIN sold 6,458 shares, netting a total of over 761,463 in proceeds. Following the sale of shares at $117.91 each, the insider now holds 79,573 shares.

Before that, RIVERA EFRAIN had sold 30,866 shares from its account. In a trade valued at $3,584,583, the Sr. Vice President, CFO traded Paychex Inc. shares for $116.13 each. Upon closing the transaction, the insider’s holdings decreased to 30,866 shares, worth approximately $10.14 million.

As published in a research note from BofA Securities on March 09, 2022, Paychex Inc. [PAYX] has been rated up from an Underperform to a Neutral and the price target has been revised to $125. This represents a 5.67% premium over Wednesday’s closing price. Analysts at Cowen upgraded the stock from ‘”a Market perform”‘ to ‘”an Outperform”‘ outlook in a report released in mid January. As of October 06, 2021, Citigroup has decreased its “Buy” rating to a “Neutral” for PAYX. Earlier on October 05, 2021, Citigroup downgraded its rating. Their new recommendation was “a Neutral” for PAYX stock which previously was a “a Buy”.

Analyzing PAYX’s Price Performance

On Wednesday, Paychex Inc. [NASDAQ: PAYX] plunged -1.77% to $117.91. The stock’s lowest price that day was $117.88, but it reached a high of $121.92 in the same session. During the last five days, there has been a drop of approximately -2.67%. Over the course of the year, Paychex Inc. shares have dropped approximately -13.62%. Shares of the company reached a 52-week high of $141.92 on 04/06/22 and a 52-week low of $109.87 on 01/28/22. A 50-day SMA is recorded $126.30, while a 200-day SMA reached $124.81. Nevertheless, trading volume fell to 1.93 million shares from 1.31 million shares the previous day.

Support And Resistance Levels for Paychex Inc. (PAYX)

According to the 24-hour chart, there is a support level at 116.55, which, if violated, would cause prices to drop to 115.20. In the upper region, resistance lies at 120.59. The next price resistance is at 123.28. RSI (Relative Strength Index) is 35.04 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.46, which suggests the price will decrease in the coming days. Percent R is at 93.98%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Paychex Inc. subject to short interest?

Stocks of Paychex Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 1.58 million shares to 10.8 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 9.22 million shares. A jump of 14.63% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 5.4 of the overall float, the days-to-cover ratio (short ratio) jumped to 5.4.

Which companies own the most shares of Paychex Inc. (PAYX)?

According to The Vanguard Group, Inc. filings, the company currently owns 28,496,985 shares, which is about 7.92% of the total PAYX shares outstanding. The investor’s shares have appreciated by 484,733 from its previous 13-F filing of 28012252.0 shares. With the completion of the sale transaction, BlackRock Fund Advisors’s stake is now worth $2,533,849,474. Capital Research & Management Co reduced a -5.06% interest valued at $1.92 billion while SSgA Funds Management, Inc. sold a -411,099 stake. A total of -556,749 shares of Paychex Inc. were sold by Walter Scott & Partners Ltd. during the quarter, and 19,323 were bought by Wells Fargo Clearing Services LLC. In its current portfolio, Geode Capital Management LLC holds 7,706,049 shares valued at $950.46 million.

In terms of Paychex Inc. share price expectations, FactSet research, analysts set an average price target of $128.16 in the next 12 months, up nearly 8.3% from the previous closing price of $120.04. Analysts anticipate Paychex Inc. stock to reach $150.00 by 2022, with the lowest price target being $110.00. In spite of this, 20 analysts ranked Paychex Inc. stock as a Hold at the end of 2022. On April 07, 2021, Wolfe Research assigned a price target of “an Underperform” to the stock and downgraded coverage with a $94.

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