Resistance

<ul class="list-ic vertical">
 <li><span>1</span> <a>Morgan Stanley has increased Paychex’s target price to $127.00.</a></li>
 <li><span>2</span> <a>The PAYX stock price has consistently advanced for the last two weeks.</a></li>
</ul>
<figure class="wp-block-image"><img decoding="async" loading="lazy" width="1260" height="382" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-197.png" alt="" class="wp-image-174209" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-197.png 1260w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-197-300x91.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-197-1024x310.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-197-768x233.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-197-750x227.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-197-1140x346.png 1140w" sizes="(max-width: 1260px) 100vw, 1260px">
</figure>
<p>Paychex, Inc. is a public company founded in the year 1971, more than 50 years ago. The company was founded by B. Thomas Golisano. Paychex, Inc. has its headquarters in Rochester, New York. The company provides payroll and HR services. It is listed on the NASDAQ exchange and is a component of the NASDAQ-100 and S&amp;P 500. The company came with its IPO in 1983.</p>
<p>Paychex’s current market cap is 42.409B USD. The company yielded a dividend of 3.11% in the year 2022 and the investors are ready to pay higher prices for the PAYX stock. As the share follows a PE ratio of 26.06. The PE ratio of a stock often indicates the amount of money investors are willing to pay for the stock.</p>
<p>The PAYX share has a Beta of 1.1 and a beta value of more than 1 indicating that the share price returns are more volatile than the whole market. This further means that the PAYX share moves more than the market as a whole. The PAYX stock has 322.469M shares floating in the market.</p>
<h2 class="wp-block-heading" id="strong-paychex-inc-stock-performance-analysis-strong"><strong>Paychex Inc. Stock Performance Analysis</strong></h2>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" loading="lazy" width="625" height="204" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-194.png" alt="" class="wp-image-174206" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-194.png 625w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-194-300x98.png 300w" sizes="(max-width: 625px) 100vw, 625px">
  <figcaption class="wp-element-caption">
   Source: <a href="https://in.tradingview.com/symbols/NASDAQ-PAYX/" rel="noopener noreferrer nofollow">Tradingview</a>
  </figcaption>
 </figure>
</div>
<p>Paychex is showing a consistent advance in revenue year-on-year from the year ending 2018. The profit margin of the company is also consistently advancing with time. Paychex reported a revenue of $5.01B in the year 2022 following a profit margin of 31.10%. This led to a net income of $1.56B. The Paychex also has managed its debt very well. As a result, the debt of the company is constant and has not increased for the last few years.</p>
<h3 class="wp-block-heading" id="strong-performance-analysis-of-payx-stock-strong"><strong>Performance Analysis of PAYX Stock</strong></h3>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" loading="lazy" width="1270" height="192" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-195.png" alt="" class="wp-image-174207" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-195.png 1270w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-195-300x45.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-195-1024x155.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-195-768x116.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-195-750x113.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-195-1140x172.png 1140w" sizes="(max-width: 1270px) 100vw, 1270px">
  <figcaption class="wp-element-caption">
   Source: Tradingview
  </figcaption>
 </figure>
</div>
<p>Experts are neutral on the Paychex and are aiming for a target of 14% above the current CMP. The max decline expected in the share price is of -9.71%. The PAYX has also met the estimated revenue and EPS of the company over the years. This indicates that the company is financially strong and reliable.&nbsp;</p>
<h2 class="wp-block-heading" id="strong-payx-stock-technical-analysis-strong"><strong>PAYX Stock Technical Analysis</strong></h2>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" loading="lazy" width="1281" height="581" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-196.png" alt="" class="wp-image-174208" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-196.png 1281w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-196-300x136.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-196-1024x464.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-196-768x348.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-196-750x340.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-196-1140x517.png 1140w" sizes="(max-width: 1281px) 100vw, 1281px">
  <figcaption class="wp-element-caption">
   Source : PAYX: 1W: NASDAQ
  </figcaption>
 </figure>
</div>
<p>The PAYX share price is trading inside a falling wedge pattern. It is currently forming bullish candlesticks. The share price might hit the upper band of the pattern.&nbsp;</p>
<p>The PAYX share price is trading in a golden cross of the 50-day and the 200-day EMA. The share price has recently broken above the 50-day EMA. This indicates the presence of buyers and strength in the market.</p>
<p>The RSI on the weekly chart of PAYX stock is following a bullish cycle. The current value of the RSI is 50.91. If the RSI sustains above its current levels then we might get to see one more bullish wave on the charts.</p>
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4>
<p><a href="https://www.thecoinrepublic.com/2023/10/06/dis-stock-price-boa-gave-a-bullish-rating-the-hope-stayed-alive/" target="_blank" rel="noopener noreferrer nofollow">Paychex, Inc</a>. has been performing very well over the years. The company has managed its debt pretty well and the revenue is also sustainable. Paychex also has a very good profit margin. The stock also looks bullish on the charts. It follows bullish EMAs and the RSI denoting strength on the weekly charts.</p>
<p>Therefore, if the PAYX stock price breaks above the falling wedge channel pattern, it can lead to much higher levels.</p>
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4>
<ul>
 <li>Support levels- $86.00 and $105.00</li>
 <li>Resistance levels- $137.00 and $141.50</li>
</ul>
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5>
<p>The information provided in this article, including the views and opinions expressed by the author or any individuals mentioned, is intended for informational purposes only. It is important to note that the article does not provide financial or investment advice. Investing or trading in cryptocurrency assets carries inherent risks and can result in financial loss.</p>

Paychex Analysts Increase Their Targets For the PAYX Stock

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