Paychex (PAYX) : 11 days before expiry, shorts in Paychex (PAYX) have reduced from 19,947,262 on Jul 29, 2016, to 17,486,059 on August 15, 2016. On an average, 1,584,308 shares are traded on the exchange. The outstanding bearish positions are equal to 5.4% of the float. Short sellers have covered -2,461,203 shares, a reduction of -12.3%, which underlines that they dont expect the stock to fall further from the current levels. The short interest information was released on Wednesday Aug 24th after the market close.
Paychex (NASDAQ:PAYX): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $60.67 and $60.51 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $60.77. The buying momentum continued till the end and the stock did not give up its gains. It closed at $60.69, notching a gain of 0.07% for the day. The total traded volume was 988,604 . The stock had closed at $60.65 on the previous day.
In a related news, The Securities and Exchange Commission has divulged that Gibson John B, officer (Sr. VP, Service) of Paychex Inc, had unloaded 11,450 shares at an average price of $59 in a transaction dated on July 29, 2016. The total value of the transaction was worth $675,550.
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.