Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Paychex Inc. shares valued at $5,961,870 were purchased by GOLISANO B THOMAS on Oct 21 ’24. At $142.00 per share, GOLISANO B THOMAS acquired 41,985 shares.
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Also, Bottini Mark Anthony sold 46,875 shares, netting a total of over 6,649,937 in proceeds. Following the sale of shares at $141.87 each, the insider now holds 79,746 shares.
Before that, Schrader Robert L. had sold 13,015 shares from its account. In a trade valued at $1,852,673, the Sr. VP, CFO traded Paychex Inc. shares for $142.35 each. Upon closing the transaction, the insider’s holdings decreased to 13,015 shares, worth approximately $2.46 million.
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 drop of approximately -0.60%. Over the course of the year, Paychex Inc. shares have jumped approximately 18.74%. 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 $134.23, while a 200-day SMA reached $125.13. Nevertheless, trading volume fell to 1.06 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 140.32, which, if violated, would cause prices to drop to 139.22. In the upper region, resistance lies at 142.22. The next price resistance is at 143.02. RSI (Relative Strength Index) is 64.53 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.79, which suggests the price will decrease in the coming days. Percent R is at 38.06%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
