The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Paychex Inc. shares valued at $1,807,252 were sold by FLASCHEN DAVID J S on Aug 05 ’24. At $125.21 per share, FLASCHEN DAVID J S sold 14,434 shares. The insider’s holdings dropped to 5,383 shares worth approximately $0.67 million following the completion of this transaction.
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Also, Mucci Family Foundation purchased 19,554 shares, netting a total of over 2,446,205 in proceeds.
Before that, FLASCHEN DAVID J S had added 14,434 shares to its account. In a trade valued at $1,807,257, the Director bought Paychex Inc. shares for $125.21 each.
As published in a research note from TD Cowen on December 22, 2023, Paychex Inc. [PAYX] has been rated down from an Outperform to a Market perform and the price target has been revised to $123 from $132. Analysts at Barclays upgraded the stock from ‘”an Underweight”‘ to ‘”an Equal weight”‘ outlook in a report released in mid December. As of November 07, 2023, UBS has initiated its “Neutral” rating for PAYX. Earlier on September 05, 2023, RBC Capital Mkts initiated its rating. Their recommendation was “a Sector perform” for PAYX stock.
Analyzing PAYX Stock Performance
During the last five days, there has been a surge of approximately 1.53%. Over the course of the year, Paychex Inc. shares have jumped approximately 5.03%. Shares of the company reached a 52-week high of $129.92 on 07/31/24 and a 52-week low of $114.72 on 04/02/24. A 50-day SMA is recorded $122.70, while a 200-day SMA reached $121.38. Nevertheless, trading volume fell to 1.05 million shares from 1.28 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 124.50, which, if violated, would cause prices to drop to 123.91. In the upper region, resistance lies at 125.67. The next price resistance is at 126.25. RSI (Relative Strength Index) is 53.55 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.85, which suggests the price will decrease in the coming days. Percent R is at 61.43%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
