Paychex Inc.’s filing revealed that its Director DOODY JOSEPH unloaded Company’s shares for reported $1.13 million on Aug 26 ’24. In the deal valued at $130.69 per share,8,641 shares were sold. As a result of this transaction, DOODY JOSEPH now holds 761 shares worth roughly $0.1 million.
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Then, DOODY JOSEPH bought 8,641 shares, generating $1,129,309 in total proceeds.
Before that, Simmons Christopher C sold 2,344 shares. Paychex Inc. shares valued at $293,797 were divested by the VP, Controller & Treasurer at a price of $125.34 per share. As a result of the transaction, Simmons Christopher C now holds 5,215 shares, worth roughly $0.69 million.
TD Cowen downgraded its Paychex Inc. [PAYX] rating to a Market perform from a an Outperform in a research note published on December 22, 2023; the price target was decreased to $123 from $132. A number of analysts have revised their coverage, including Barclays’s analysts, who increased its forecast for the stock in mid December from “an Underweight” to “an Equal weight”. UBS began covering PAYX with “Neutral” recommendation on November 07, 2023. RBC Capital Mkts started covering the stock on September 05, 2023. It rated PAYX as “a Sector perform”.
Price Performance Review of PAYX
On Tuesday, Paychex Inc. [NASDAQ:PAYX] saw its stock jump 0.56% to $131.93. Over the last five days, the stock has gained 1.34%. Paychex Inc. shares have risen nearly 10.76% since the year began. Nevertheless, the stocks have risen 7.94% over the past one year. While a 52-week high of $132.13 was reached on 09/03/24, a 52-week low of $106.27 was recorded on 04/02/24. SMA at 50 days reached $124.04, while 200 days put it at $122.42.
Levels Of Support And Resistance For PAYX Stock
The 24-hour chart illustrates a support level at 130.57, which if violated will result in even more drops to 129.20. On the upside, there is a resistance level at 133.21. A further resistance level may holdings at 134.48. The Relative Strength Index (RSI) on the 14-day chart is 70.92, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 2.72, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 13.77%. Stochastics %K at 88.35% indicates the stock is a selling.
How much short interest is there in Paychex Inc.?
A steep rise in short interest was recorded in Paychex Inc. stocks on 2024-08-15, growing by 1.29 million shares to a total of 17.9 million shares. Yahoo Finance data shows the prior-month short interest on 2024-07-15 was 16.61 million shares. There was a rise of 7.2%, which implies that there is a positive sentiment for the stock.
The most recent change occurred on June 02, 2023 when UBS began covering the stock and recommended ‘”a Neutral”‘ rating along with a $115 price target.
