Large Outflow of Money Witnessed in Paychex

Paychex (PAYX): The stock had negative money flow to the tune of ($2.29 million) on Friday, which shows that the traders are selling the stock on the price strength. The inflow of money on upticks was $6.25 million, whereas, the outflow of money on downticks was $8.55 million and the ratio between the two was 0.73. The block trade had a negative net money flow of ($2.92 million). On the other hand, downticks amounted to $2.92 million of the traded value, which shows distribution in the stock by traders. Paychex (PAYX) closed with marginal gains of 49 cents to end the day at $60.83, an increase of 0.81% over the previous days close. The stock recorded -0.15% for the week.


Paychex (PAYX) : The highest short term price target forecast on Paychex (PAYX) is $63 and the lowest target price is $40. A total of 12 equity analysts are currently covering the company. The average price of all the analysts is $51.33 with a standard deviation of $7.56.

Paychex (NASDAQ:PAYX): stock turned positive on Friday. Though the stock opened at $60.67, the bulls momentum made the stock top out at $60.935 level for the day. The stock recorded a low of $60.29 and closed the trading day at $60.74, in the green by 0.66%. The total traded volume for the day was 1,457,777. The stock had closed at $60.34 in the previous days trading.

In a related news, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the officer (Sr. Vice President) of Paychex Inc, Gioja Michael E had sold 6,190 shares worth of $372,824 in a transaction dated July 21, 2016. In this transaction, 6,190 shares were sold at $60.23 per share.

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.

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