Paychex stock: buy or sell

PAYX stock price: $103.66 1.61% At close on Jun 21st, 2021

Updated on:
Jun 22nd, 2021

2

Paychex stock brief

  • Paychex closed on Monday at $103.66 after rising a 1.61%.

Should I buy Paychex stock?

Even if you are a experienced or a novel trader, best trading results come from using an investing strategy that never leaves to random or subjective opinions when is the best moment to buy or sell stocks. 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?

In the current situation of Paychex there is just one buy setup eligible:

Uptrend buy setup

Paychex stock is in an uptrend since last January that so far has marked a gorgeous 23.00% gain. Price marked a pull back in this uptrend at $96.12 in mid-May, and since then it bounced off a 7.84%. Price just broke out above the buy point at $101.94, but it's still eligible. If price goes above $107.04, you should not chase the price and wait for another entry point. If you decide to enter this trade, the suggested stop loss is at $93.24

Buy setupBuy pointStop lossRisk
Uptrend buy setup$101.94$93.248.54%

Should I sell Paychex stock?

When you own a stock with some profit, it's really hard to decide the best moment to sell and get your profits. Trading strategies prevent us from making rash decisions based on our personal emotions or the buzz that surrounds the market. Our trading system selects very simple setups to guide us on when is a good time to sell a stock. Be aware that these setups should not be used for shorting Paychex stock

A guiding principle is that you should not mantain an investment that produces higher than expected losses at the time of purchase. When to sell your stock always has to be determined by the stop-loss (automatic or manual)

Is it time to sell Paychex stock?

Currently, Paychex stock doesn't match any of our preferred sell setups, so if you own Paychex shares and your operation is in profit probably is not time to sell now

Paychex ratings

We don't have any rating published in the previous month for Paychex

Paychex stock analysis

Since last January, Paychex has been printing an uptrend that so far marked an amazing 23.18%. The chart shows higher peaks and higher troughs, and along the way provided some entry points for those who wanted to trade in. Latest pullback was in mid-May, when price bounced at $96.12. On June 8, Paychex broke out above its last top ($101.94) giving a good buying opportunity

SMAs overview

PAYX stock SMAs chart

Supports and resistances

Price is at highs and there are not upper resistances.

The current supports are:

  • S1: $101.94 (-1.66% below)
  • S2: $100.49 (-3.06% below)
  • S3: $98.60 (-4.88% below)
  • Bollinger bands

    Since the price surpassed the upper band on June 11, the price has corrected downwards by 1.44%. The price is trading very close to the upper Bollinger band, poiting some level of overbought in recent sessions. This is not a sell signal, as price can move in these levels for many days and weeks

    PAYX stock Bollinger Bands chart

    Relative strength index

    The has been between the overbought and oversold zones for some weeks, and therefore, without this indicator really being of any help to us in making any decisions.

    PAYX stock RSI chart

    Paychex stock price history

    Paychex went public on Aug 26th, 1983 at $0.00 per share1. Since then, PAYX stock surged by -, with an average of 0.00% per year. An investment of thousand dollars on Aug 1983 would be valued $inf nowadays.

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

    PAYX stock price history chart

    Price target for Paychex stock

    Nobody can predict how much a stock will be priced in the future. However, many stock price predictions are issued every day by banks, financial institutions and independent analysts.

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

    We don't have any target price published in the last 4 weeks for Paychex.

    Earnings and financials

    Last April, Paychex ($PAYX) hosted the earnings call and presented the report. Paychex reported earnings of $0.96 per share on revenue of $1.1 billion. The market estimate was $0.92 per share on revenue of $1.1 billion.

    In contrast, the EPS for the same quarter last year was $0.97, so reported EPS is a decrease of -1.03%. Looking at turnover, figures slightly moved compared to $11.4B year over year.

    Paychex ($PAYX) is presenting financial report next Tuesday. Wall Street forecasts of $0.67, compared to Q3 that made $0.96. Regarding to revenues, the estimates are $980.5 million.

    Paychex performance

    PAYX performance compared
    Company1m3m6m
    Paychex ($PAYX) 2.60% 8.00% 9.30%

    Important:
    The comments written in this article are personal and not recommendations for you to buy or sell shares. The author of this text does not have an understanding of the particular conditions of the reader, his or her finances or his or her own best interests at any given time. All users should speak with their financial advisor before buying or selling any securities Opinions are published for informational reasons only

    Paychex summary

    Monday, June 21st, 2021
    Open$102.6
    Close$103.66
    Day range$102.05 - $103.9
    Previous close$102.02
    Session gain1.61%
    Average true range$1.73
    50d mov avg$99.96
    100d mov avg$96.46
    200d mov avg$90.85
    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 had no ratings in the last 4 weeks Read the article to get additional tips on trading PAYX stock.

    Will PAYX go up?

    There were no predictions posted by market analysts in the last month for Paychex.