Paychex Inc. (NASDAQ: PAYX) Trading under Its 20 Day MA ($121.43), Why Showing An Interesting Price Pattern?

Paychex Inc. (NASDAQ:PAYX) does about 1.93M shares in volume on a normal day but saw 1581718 shares change hands in Monday trading. The company now has a market cap of 41.82B USD. Its current market price is $116.17, marking a decrease of -1.17% compared to the previous close of $117.54. The 52 week high reached by this stock is $129.70 whilst the lowest price level in 52 weeks is $106.27.

Paychex Inc. (PAYX) has a 20-day trading average at $121.43 and the current price is -10.43% off the 52-week high compared with 9.32% distance from its 52-week low. The 50-day simple moving average of the closing price is $121.81 and its 200-day simple moving average is $120.35. If we look at the stock’s price movements over the week, volatility stands at 1.82%, which increases to 1.93% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 35.68 to suggest the stock is neutral.

The consensus objective for the share price is $121.27, suggesting that the stock has a potential upside of 4.21% over the period.

The company shares received a number of brokerage firm price updates over the past month, with the latest being on December 22, 2023 when TD Cowen downgraded the stock to “Market Perform” and issued a price target of between $132 and $123. Barclays upgraded the stock to “Equal Weight” from Underweight on December 14, 2023 at a price target of $107-$126. UBS initiated its price target at $120.

Paychex Inc. (PAYX) stock is down -2.02% over the week and -4.50% over the past month. Its price is -2.47% year-to-date and 2.15% over the past year.

To reach the target analysts have set, the stock logically needs to grow 4.21 percent from here.

The company has a return on investment of 36.36% and return on equity of 46.35%. The price to earnings ratio (P/E ratio) amounts to 24.88 while the forward price to earnings ratio is 21.99. The beta has a value of 0.99. Price to book ratio is 11.01 and price to sales ratio is 7.92.