Paychex stock: buy or sell

PAYX stock price: $98.22 0.73% At close on Apr 21st, 2021

Updated on:
Apr 22nd, 2021

2

Paychex stock brief

  • Paychex closed on Wednesday at $98.22 after just moving a 0.73%.
  • The stock is configuring an uptrend pattern since last January, when it bottomed at $84.71. Up to date, the uptrend marked a 15.95% profit since the beginning of this rally

Should I buy Paychex stock?

All successful traders recommend adhering to a trading strategy and not make decisions based on subjective opinions, rumors or feelings. Trading strategies are meant for helping you in the decision process of what stocks to pick and when is the best moment to buy them. At Stocks2.com, we like to use very simple but trusted and powerful trend following trading strategies. Simple things usually work the best

Is $PAYX stock a buy?

Currently, Paychex stock matches 2 trading strategies:

Uptrend buy setup

Paychex stock continues to trend higher since last January and marked an amazing 15.95% gain. Price marked a pull back in this uptrend at $92.74 on April 6, and since then it bounced off a 5.91%. Now, it's just 2.98% away from breaking out over its last top and resume the uptrend. The new buy point is therefore at $101.15. If you decide to enter this trade, the suggested stop loss is at $91.04

Buy setupBuy pointStop lossRisk
Uptrend buy setup$101.15$91.0410.00%

ATH buy setup

All-time Highs is always an excellent buy point for those who like to buy high and sell higher. The good point of buying at ATHs is that shares price doesn't have upper resistances, and usually it scales fast. However, there's the risk of a bulls trap that may trigger your buy order and then drops sharply. That's why a stop loss is so important. Paychex can break to ATH any time soon, as it only needs to go up a 2.98%. The buy point is at $101.15 if you want to trade with this strategy. Arm your stop-loss at $91.04

Buy setupBuy pointStop lossRisk
ATH buy setup$101.15$91.0410.00%

Should I sell Paychex stock?

Do you know when is it time to sell Paychex?. Trading strategies give us the ability us to avoid impulsive decisions based on our personal sentiments or the buzz that surrounds the market. Our trading system selects very simple strategies to guide us on when is a good moment to sell a stock. Be aware that these strategies should not be used for shorting $PAYX stock

As a rule of thumb, you should not hold an open trade that results in greater losses than those expected at the time of purchase. The moment to sell your stock should always be dictated by the stop-loss (automatic or manual)

Is it time to sell Paychex stock?

In the current situation of Paychex there is not any eligible sell setup, so Paychex stock holders with operations in profit can keep their positions

Paychex ratings

In the last month, 12 ratings were published for Paychex

Paychex analysts' ratings - Last 30 days
Brokerage firmRating
Apr 7th, 2021
Argus Strong buy
BMO Capital Markets
Morgan Stanley
Robert W. Baird Buy
The Goldman Sachs Group Strong sell
Wolfe Research
Apr 13th, 2021
Argus Strong buy
BMO Capital Markets
Morgan Stanley
Robert W. Baird Buy
The Goldman Sachs Group Strong sell
Wolfe Research

Paychex stock analysis

Paychex shares started an uptrend last January, and gained a gorgeous 15.95%. The price line shows rising tops and bottoms, and along the way gave very few entry points for those who wanted to invest. Latest low was on April 6, when price bounced at $92.74. Now, the price swings in a consolidation between its last top ($101.15) and its last bottom ($92.74)

SMAs overview

PAYX stock SMAs chart

Supports and resistances

The current resistances are:

  • R1: $99.25 (1.05% above)
  • R2: $101.15 (2.98% above)
  • The current support levels are:

  • S1: $94.29 (-4.00% below)
  • S2: $92.74 (-5.58% below)
  • S3: $90.10 (-8.27% below)
  • Bollinger bands

    The price is trading near to the upper Bollinger band, poiting some level of overbought in recent sessions. This is not a sell point, as price can trade in these levels for many days and weeks

    PAYX stock Bollinger Bands chart

    Relative strength index

    The RSI dropped below the overbought level of 70 in late March after just crossing to the overbough zone for a single day (weak signal). The RSI value on Wednesday was 56.52. Since that level was lost, Paychex price dropped a 2.58%

    PAYX stock RSI chart

    Paychex stock price history

    Paychex started trading priced at an adjusted price1 of $0.00 on Aug 1983. Since then, PAYX stock has risen by -, with an average of 0.00% per year. An investment of $1,000USD at that time would be valued $inf today.

    1: Adjusted price after possible price splits or reverse-splits

    PAYX stock price history chart

    Price target for Paychex stock

    How much a stock will be priced tomorrow or next week is quite unpredictable. Banks and financial organisations issue their analysis predicting how a particular stock will performance in the future.

    Along with buy or sell recommendations, brokerage institutions publish their price target based on the stock price action and the company fundamental data. Most of these estimates follow the release of new financial data by the company, and many times. Again, these forecasts are not direct recommendations for individual traders and should not be followed blindly.

    There are 12 price forecasts released for Paychex that average $94.67. That is a 3.61% than the last price ($98.22).

    Paychex stock price predictions
    Brokerage firmPrice target
    Apr 7th, 2021
    Argus $103.00$105.00
    BMO Capital Markets $93.00$96.00
    Morgan Stanley $91.00$90.00
    Robert W. Baird $82.00$94.00
    The Goldman Sachs Group $85.00$89.00
    Wolfe Research $94.00
    Apr 13th, 2021
    Argus $103.00$105.00
    BMO Capital Markets $93.00$96.00
    Morgan Stanley $91.00$90.00
    Robert W. Baird $82.00$94.00
    The Goldman Sachs Group $85.00$89.00
    Wolfe Research $94.00

    Earnings and financials

    Paychex, Inc. ($PAYX) came out with earnings of $0.96 per share on April 6, slightly uplifting the Wall St consensus estimate of $0.92 per share. This quarterly report represents an earnings surprise of 4.35%. On the contrary, the company said revenue was $1.1 billion consistent with the market estimates.

    Same quarter one year ago, reported EPS was $0.97, so recently reported EPS is a drop of -1.03%. Revenue merely moved on an annualized basis in the , from $11.4B to $11.1B last quarter.

    Paychex ($PAYX) is hosting the Q4 earnings call next July. Wall Street predicts of $0.67, compared to Q3 that made $0.96.

    Paychex performance

    PAYX performance compared
    Company1m3m6m
    Paychex ($PAYX) 1.70% 11.10% 20.90%

    Important:
    The comments published in this post are personal and not recommendations for you to buy or sell shares. The author of this report does not have an understanding of the particular conditions of the reader, his or her own finances or what is in his or her best interest at any given time. All users should speak with their financial advisor before buying or selling any securities Thoughts are provided for education reasons only

    Paychex summary

    Wednesday, April 21st, 2021
    Open$97.87
    Close$98.22
    Day range$97.22 - $98.46
    Previous close$97.51
    Session gain0.73%
    Average true range$2.32
    50d mov avg$94.67
    100d mov avg$92.86
    200d mov avg$85.40
    Earnings dateJuly 6th, 2021

    Frequently asked questions

    What is Paychex stock symbol?

    Paychex, Inc. is a public company trading in the US stock market with the PAYX symbol

    Is Paychex stock a buy or sell?

    Paychex received 12 ratings in the last 30 days: 4 bullish, 2 bearish and 0 neutral.

    Will PAYX go up?

    Paychex had different price forecasts published by market analysts in the last 4 weeks forecasting the target price to $94.67. That is a 3.61% than the current price ($98.22).