What Next for Paychex Inc (NASDAQ:PAYX) Stock After Decrease in Shorted Shares?

August 9, 2018 - By Carolyn Hewitt

Paychex, Inc. (NASDAQ:PAYX) Logo

Investors sentiment decreased to 0.84 in Q1 2018. Its down 0.08, from 0.92 in 2017Q4. It turned negative, as 56 investors sold Paychex, Inc. shares while 306 reduced holdings. 76 funds opened positions while 228 raised stakes. 238.99 million shares or 0.23% more from 238.43 million shares in 2017Q4 were reported.
Kentucky Retirement System Insurance Fund has 7,318 shares for 0.09% of their portfolio. Denver Invest Advsr Limited Liability Com accumulated 3,812 shares. Mercer Cap Advisers owns 1.24% invested in Paychex, Inc. (NASDAQ:PAYX) for 27,355 shares. Susquehanna Intl Gp Limited Liability Partnership holds 0% or 7,088 shares in its portfolio. Essex Invest Mngmt owns 63,625 shares for 0.52% of their portfolio. Credit Suisse Ag accumulated 1.53M shares. Louisiana State Employees Retirement Sys invested 0.05% in Paychex, Inc. (NASDAQ:PAYX). Lincoln National holds 0.03% in Paychex, Inc. (NASDAQ:PAYX) or 13,259 shares. Genesee Valley Trust holds 0.33% or 12,294 shares in its portfolio. Amica Mutual Ins Co holds 10,687 shares or 0.08% of its portfolio. Utd Asset Strategies stated it has 0.35% in Paychex, Inc. (NASDAQ:PAYX). Bluecrest Capital Mngmt owns 12,973 shares or 0.02% of their US portfolio. Old Mutual Glob (Uk) Limited invested in 0.04% or 77,013 shares. Harvey Invest Ltd Co reported 237,718 shares. Natixis L P holds 28,398 shares.

Since March 29, 2018, it had 0 buys, and 17 sales for $19.87 million activity. $48,344 worth of Paychex, Inc. (NASDAQ:PAYX) was sold by RIVERA EFRAIN on Wednesday, July 11. The insider Gibson John B sold $3.67M. 7,853 shares were sold by INMAN GRANT M, worth $563,374 on Thursday, July 26. $428,938 worth of stock was sold by TUCCI JOSEPH M on Thursday, July 5. $36,241 worth of Paychex, Inc. (NASDAQ:PAYX) was sold by Gioja Michael E on Wednesday, July 11. $31,807 worth of Paychex, Inc. (NASDAQ:PAYX) shares were sold by Bottini Mark Anthony.

The stock of Paychex Inc (NASDAQ:PAYX) registered a decrease of 0.77% in short interest. PAYX’s total short interest was 10.10M shares in August as published by FINRA. Its down 0.77% from 10.17 million shares, reported previously. With 2.74M shares average volume, it will take short sellers 4 days to cover their PAYX’s short positions. The short interest to Paychex Inc’s float is 3.15%.

The stock decreased 0.13% or $0.09 during the last trading session, reaching $71.1. About 918,103 shares traded. Paychex, Inc. (NASDAQ:PAYX) has risen 11.49% since August 9, 2017 and is uptrending. It has underperformed by 1.08% the S&P500.

Paychex, Inc. provides payroll, human resource , retirement, and insurance services for small to medium-sized businesses in the United States and Germany. The company has market cap of $25.53 billion. The firm offers payroll processing services that include payroll tax administration services; employee payment services; and regulatory compliance services, such as new-hire reporting and garnishment processing. It has a 27.56 P/E ratio. It also provides HR outsourcing services, such as Paychex HR solutions comprising payroll, employer compliance, HR and employee benefits administration, risk management outsourcing, and the on-site availability of a professionally trained HR representative; and retirement services administration, including plan implementation, ongoing compliance with government regulations, employee and employer reporting, participant and employer online access, electronic funds transfer, and other administrative services.

Paychex, Inc. (NASDAQ:PAYX) Ratings Coverage

Among 11 analysts covering Paychex (NASDAQ:PAYX), 1 have Buy rating, 0 Sell and 10 Hold. Therefore 9% are positive. Paychex had 15 analyst reports since March 26, 2018 according to SRatingsIntel. Stifel Nicolaus maintained the stock with “Hold” rating in Thursday, June 28 report. The firm has “Market Perform” rating by Wells Fargo given on Thursday, June 28. The stock of Paychex, Inc. (NASDAQ:PAYX) earned “Hold” rating by RBC Capital Markets on Monday, April 2. Morgan Stanley maintained Paychex, Inc. (NASDAQ:PAYX) rating on Thursday, June 28. Morgan Stanley has “Equal-Weight” rating and $67 target. The rating was maintained by Robert W. Baird with “Neutral” on Thursday, June 28. The stock of Paychex, Inc. (NASDAQ:PAYX) has “Sell” rating given on Monday, March 26 by RBC Capital Markets. The stock has “Equal-Weight” rating by Barclays Capital on Tuesday, March 27. The stock has “Hold” rating by Robert W. Baird on Monday, March 26. The rating was maintained by Citigroup with “Neutral” on Thursday, June 28. On Monday, March 26 the stock rating was maintained by Stifel Nicolaus with “Hold”.

Another recent and important Paychex, Inc. (NASDAQ:PAYX) news was published by Seekingalpha.com which published an article titled: “You’re Paying How Much For Paychex?” on July 11, 2018.

Paychex, Inc. (NASDAQ:PAYX) Institutional Positions Chart

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