PAYX Stock Summary and Trading Ideas (Paychex | NASDAQ:PAYX)

Paychex is a leading provider of payroll, human capital management, and insurance solutions servicing small and midsize clients primarily in the United States. The company, established in 1979, services over 740,000 clients and pays over 1 in 12 U.S. private-sector workers. Alongside its traditional payroll services, Paychex offers HCM solutions such as benefits administration and time and attendance software, as well as human resources outsourcing and insurance agency services.

Paychex trades on the NASDAQ stock market under the symbol PAYX.

As of April 23, 2024, PAYX stock price climbed to $121.62 with 1,106,643 million shares trading.

PAYX has a beta of 0.85, meaning it tends to be less sensitive to market movements. PAYX has a correlation of 0.34 to the broad based SPY ETF.

PAYX has a market cap of $43.76 billion. This is considered a Large Cap stock.

Last quarter Paychex reported $1 billion in Revenue and $1.38 earnings per share. This fell short of revenue expectation by $-21 million and exceeded earnings estimates by $.01.

In the last 3 years, PAYX stock traded as high as $141.92 and as low as $96.12.

The top ETF exchange traded funds that PAYX belongs to (by Net Assets): VTI, VOO, SCHD, QQQ, SPY.

PAYX has underperformed the market in the last year with a price return of +14.3% while the SPY ETF gained +24.3%. PAYX has also underperformed the stock market ETF in the last 3 month and 2 week periods returning -0.3% and -3.9%, respectively, while the SPY returned +4.6% and -2.6%, respectively.

PAYX support price is $119.63 and resistance is $122.83 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that PAYX stock will trade within this expected range on the day.