Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Paychex Inc. shares valued at $6,649,997 were purchased by Bottini Mark Anthony on Oct 16 ’24. At $141.87 per share, Bottini Mark Anthony acquired 46,875 shares.
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Also, GOLISANO B THOMAS purchased 7,143 shares, netting a total of over 1,025,020 in proceeds.
Before that, Schrader Robert L. had added 13,015 shares to its account. In a trade valued at $1,852,711, the Officer bought Paychex Inc. shares for $142.35 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 1.74%. Over the course of the year, Paychex Inc. shares have jumped approximately 19.45%. Shares of the company reached a 52-week high of $144.17 on 10/15/24 and a 52-week low of $114.72 on 04/02/24. A 50-day SMA is recorded $132.50, while a 200-day SMA reached $124.54. Nevertheless, trading volume fell to 1.17 million shares from 1.5 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 141.23, which, if violated, would cause prices to drop to 140.19. In the upper region, resistance lies at 142.91. The next price resistance is at 143.55. RSI (Relative Strength Index) is 69.57 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 3.22, which suggests the price will increase in the coming days. Percent R is at 15.76%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
