Paychex (PAYX, $64.32) Beats Earnings and Revenue Estimates in Q2
Paychex Inc. registered earnings of 65 cents a share in the second quarter, which is +18% higher than year-ago period’s per share earnings. The payroll & human resources company generated adjusted earnings of 65 cents per share, surpassing analysts’ expectation of 63 cents per share (as polled by Refinitiv). For fiscal 2019, the company projects its adjusted earnings per share to increase in the range of 11-12% - an upward revision from its initial guidance of a 7- 8% increase.
Paychex’s revenue climbed +7% year-over-year to touch $858.9 million in the second quarter. That’s higher than analysts’ estimate of $858.3 million. Its guidance for fiscal 2019 total revenue growth is in the range of 6-7%.
Momentum Indicator for PAYX turns positive, indicating new upward trend
PAYX saw its Momentum Indicator move above the 0 level on October 01, 2024. This is an indication that the stock could be shifting in to a new upward move. Traders may want to consider buying the stock or buying call options. Tickeron's A.I.dvisor looked at 85 similar instances where the indicator turned positive. In of the 85 cases, the stock moved higher in the following days. The odds of a move higher are at .
Technical Analysis (Indicators)
Bullish Trend Analysis
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where PAYX advanced for three days, in of 345 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 303 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 October 18, 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 37 similar instances where the indicator moved out of overbought territory. In of the 37 cases, the stock moved lower in the following days. This puts the odds of a move lower at .
The Stochastic Oscillator may be shifting from an upward trend to a downward trend. In of 64 cases where PAYX's Stochastic Oscillator exited the overbought zone, the price fell further within the following month. The odds of a continued downward trend are .
The Moving Average Convergence Divergence Histogram (MACD) for PAYX turned negative on October 21, 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 49 similar instances when the indicator turned negative. In of the 49 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 October 01, 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
