Paychex (PAYX, $113.98) beats fiscal Q1 earnings expectations
Paychex, Inc. posted first-quarter fiscal 2022 adjusted earnings of $1.03 per share, which surpassed the Zacks Consensus Estimate by 6.2% . The earnings grew +15.7% from the year-ago quarter.
The payroll solutions company’s revenues rose +11.4% year over year to $1.2 billion, beating expectations by 1.8%.(as reported by Zacks Equity Research).
Revenues from Management Solutions segment were up +12% year over year to $905.5 million. Professional employer organization (“PEO”) and Insurance Solutions revenues rose +8% from the year-ago quarter to $282.8 million.
For fiscal 2023, Paychex lowered its adjusted earnings per share forecast to imply 11-12% growth (vs. prior expectation of 9-10% growth). The company reiterated revenues growth outlook of 7-8%.
PAYX in upward trend: price rose above 50-day moving average on December 10, 2024
PAYX moved above its 50-day moving average on December 10, 2024 date and that indicates a change from a downward trend to an upward trend. In of 51 similar past instances, the stock price increased further within the following month. The odds of a continued upward trend are .
Technical Analysis (Indicators)
Bullish Trend Analysis
The Stochastic Oscillator demonstrated that the ticker has stayed in the oversold zone for 1 day, which means it's wise to expect a price bounce in the near future.
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where PAYX advanced for three days, in of 339 cases, the price rose further within the following month. The odds of a continued upward trend are .
The Aroon Indicator entered an Uptrend today. In of 306 cases where PAYX Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .
Bearish Trend Analysis
The 10-day RSI Indicator for PAYX moved out of overbought territory on November 13, 2024. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 36 similar instances where the indicator moved out of overbought territory. In of the 36 cases, the stock moved lower in the following days. This puts the odds of a move lower at .
The Momentum Indicator moved below the 0 level on December 06, 2024. You may want to consider selling the stock, shorting the stock, or exploring put options on PAYX as a result. In of 84 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .
The Moving Average Convergence Divergence Histogram (MACD) for PAYX turned negative on November 18, 2024. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 50 similar instances when the indicator turned negative. In of the 50 cases the stock turned lower in the days that followed. This puts the odds of success at .
Following a 3-day decline, the stock is projected to fall further. Considering past instances where PAYX declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
PAYX broke above its upper Bollinger Band on November 06, 2024. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
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Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
