Paychex (PAYX) : Wednesdays money flow points at investors jumping to buy the stock on the weakness of price. $26.75 million worth of transactions were on upticks, whereas, the downticks accounted for $20.71 million worth of transactions. The net money flow was a positive $6.04 million and the uptick to downtick ratio was 1.29. However, the block trades showed a clear dominance of the bulls with a very healthy ratio of 4.04 in their favor. The net money flow into the stock was $6.1 million. The value of block trades done on downticks was only $2.01 million. The lack of interest in trading on downticks shows that the investors dont want to sell their holdings. The upticks accounted for $8.11 million of the total block trades, indicating continued buying interest on weakness, which bodes well for the future of the stock. Paychex (PAYX) was trading at $60.51, down $0.19 during day. The stock slid -0.31% over the previous days close. For the week, the stock recorded -0.67% over the previous weeks close.
Also, Compass Point initiates coverage on Paychex (NASDAQ:PAYX). The current rating of the shares is Sell, according to the research report released by the firm. The brokerage firm announces the price target at $56 per share. The rating by the firm was issued on April 15, 2016.
Paychex (NASDAQ:PAYX): The stock opened at $60.62 on Wednesday but the bulls could not build on the opening and the stock topped out at $60.72 for the day. The stock traded down to $60.28 during the day, due to lack of any buying support eventually closed down at $60.51 with a loss of -0.31% for the day. The stock had closed at $60.70 on the previous day. The total traded volume was 2,618,674 shares.
The stock has recorded a 20-day Moving Average of 2.88% and the 50-Day Moving Average is 8.66%. In a related news, The Securities and Exchange Commission has divulged that Vossler Jennifer R., officer (VP/Controller) of Paychex Inc, had unloaded 12,000 shares at an average price of $61.05 in a transaction dated on July 14, 2016. The total value of the transaction was worth $732,600.
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.