Paychex (PAYX) has risen sharply, recording gains of 11.16% in the past 4 weeks. However, the stock has corrected -0.3% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 4.13% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
Paychex (NASDAQ:PAYX): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $60.67 and $60.29 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $60.94. The buying momentum continued till the end and the stock did not give up its gains. It closed at $60.74, notching a gain of 0.66% for the day. The total traded volume was 1,457,777 . The stock had closed at $60.34 on the previous day.
The stock has recorded a 20-day Moving Average of 2.4% and the 50-Day Moving Average is 8.45%. Paychex, Inc. is up 17.15% in the last 3-month period. Year-to-Date the stock performance stands at 16.82%.
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.