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Paychex Inc. (PAYX): These Numbers Show Where NASDAQ:PAYX Stock Is Going Next

Paychex Inc. (NASDAQ: PAYX) is 3.10% higher on its value in year-to-date trading and has touched a low of $104.09 and a high of $129.70 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The PAYX stock was last observed hovering at around $121.53 in the last trading session, with the day’s gains setting it 1.27%.

Currently trading at $122.80, the stock is 1.23% and 0.75% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.61 million and changing 1.05% at the moment leaves the stock 2.76% off its SMA200. PAYX registered 12.68% gain for a year compared to 6-month gain of 5.40%. The firm has a 50-day simple moving average (SMA 50) of $8.47 and a 200-day simple moving average (SMA200) of $18.51.

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The stock witnessed a 0.32% loss in the last 1 month and extending the period to 3 months gives it a 3.13%, and is 0.38% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 1.45% over the week and 1.44% over the month.

Paychex Inc. (PAYX) has around 16600 employees, a market worth around $44.19B and $5.15B in sales. Current P/E ratio is 27.31 and Fwd P/E is 24.55. Profit margin for the company is 31.62%. Distance from 52-week low is 17.97% and -5.32% from its 52-week high. The company has generated returns on investments over the last 12 months (37.24%).

Paychex Inc. quarterly earnings per share for the current quarter are estimated at $1.37 with sales reaching $1.46B over the same period.The EPS is expected to grow by 10.19% this year, but quarterly earnings will post 6.40% year-over-year.

Paychex Inc. (PAYX) Top Institutional Holders

1,921 institutions hold shares in Paychex Inc. (PAYX), with institutional investors hold 86.24% of the company’s shares. The shares outstanding are 360.50M, and float is at 321.16M with Short Float at 3.62%. Institutions hold 76.91% of the Float.

The top institutional shareholder in the company is Vanguard Group Inc with over 29.76 million shares valued at $3.33 billion. The investor’s holdings represent 8.24% of the PAYX Shares outstanding. As of Jun 29, 2023, the second largest holder is Blackrock Inc. with 26.93 million shares valued at $3.01 billion to account for 7.46% of the shares outstanding. The other top investors are Capital International Investors which holds 18.82 million shares representing 5.21% and valued at over $2.11 billion, while State Street Corporation holds 3.57% of the shares totaling 12.9 million with a market value of $1.44 billion.

Paychex Inc. (PAYX) Insider Activity

The most recent transaction is an insider purchase by FLASCHEN DAVID J S,the company’sDirector. SEC filings show that FLASCHEN DAVID J S bought 45 shares of the company’s common stock on Aug 24 ’24 at a price of $122.31 per share for a total of $5556.0. Following the purchase, the insider now owns 6289.0 shares.

Paychex Inc. disclosed in a document filed with the SEC on Feb 07 ’24 that Gioja Michael E (Sr. Vice President) sold a total of 40,068 shares of the company’s common stock. The trade occurred on Feb 07 ’24 and was made at $121.89 per share for $4.88 million. Following the transaction, the insider now directly holds 19194.0 shares of the PAYX stock.

Still, SEC filings show that on Jan 29 ’24, Bottini Mark Anthony (Sr. VP of Sales) disposed off 15,481 shares at an average price of $120.53 for $1.87 million. The insider now directly holds 82,690 shares of Paychex Inc. (PAYX).

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