Paychex (PAYX) : Thursdays money flow data in Paychex (PAYX) suggests that the bulls made the most of the weakness in the stock. The inflow of money into the stock on upticks was $15.4 million, whereas, $13.91 million worth of transactions were done on downticks. The ratio between the two, uptick and downtick stood at 1.11, in favor of the bulls. The total money flow into the stock was $1.49 million clearly indicating that the smart money has been buying into the stock on weakness.
In comparison, the money flow in block deals was $2.96 million. The total value of block trades done on upticks was $2.96 million. Paychex (PAYX) fell $0.11 and traded at $60.73, down -0.18% for the day, over previous days close. On a weekly basis, the shares are 2.17% over the previous weeks close.
Paychex (PAYX) : The highest level Paychex (PAYX) is projected to reach is $57 for the short term and the lowest estimate is at $40. The consolidated price target from 13 rating analysts who initiate coverage on the stock is $49 and the possibility the share price can swing is $5.45. The stock has recorded a 20-day Moving Average of 8.15% and the 50-Day Moving Average is 12.05%.
Paychex (NASDAQ:PAYX): The stock opened at $60.96 on Thursday but the bulls could not build on the opening and the stock topped out at $61.27 for the day. The stock traded down to $60.46 during the day, due to lack of any buying support eventually closed down at $60.59 with a loss of -0.41% for the day. The stock had closed at $60.84 on the previous day. The total traded volume was 3,855,911 shares.
Paychex, Inc., is a provider of integrated payroll, human Resource, insurance, and benefits outsourcing solutions for small- to medium-sized businesses. The Company focuses on providing payroll and human Resource services; delivering these services; growing its client base, through the efforts of its direct sales force; improving client service, through its leading-edge technology; capitalizing on the growth opportunities within its existing client base and from new clients; investing in business through expansion of its services and product offerings; and supplementing its growth through strategic acquisitions. The Company offers services and products that allow its clients to meet their diverse payroll and human Resource needs. These include: payroll processing; payroll tax administration services; employee payment services; regulatory compliance services; Paychex HR Services; retirement services administration; insurance services; and online HR administration services.