Overall market sentiment has been high on Paychex, Inc. (PAYX) stock lately. PAYX receives a Bullish rating from InvestorsObserver's Stock Sentiment Indicator.
What is Stock Sentiment?
In investing, sentiment generally means whether or not a given security is in favor with investors. It is typically a pretty short-term metric that relies entirely on technical analysis. That means it doesn’t incorporate anything to do with the health or profitability of the underlying company.
Recent trends are a good indicator of current market sentiments. In its most basic form, stocks that are trending up are desirable by investors while stocks currently falling must be unattractive.
InvestorsObserver's Sentimental Indicator tracks both changes in price and volume to analyze the most recent trends. Typically an increase in volume indicates ongoing trends are getting stronger, while a decrease in volume usually signals an end to the current trend.
Available options can also represent current sentiments for a given stock. Since investors are able to bet on future trends of stocks using options, we consider the ratio of calls to puts when analyzing market sentiments .
What's Happening With PAYX Stock Today?
Paychex, Inc. (PAYX) stock is trading at $111.54 as of 1:52 PM on Friday, Jul 9, an increase of $1.32, or 1.2% from the previous closing price of $110.22. The stock has traded between $109.60 and $111.55 so far today. Volume today is less active than usual. So far 645,589 shares have traded compared to average volume of 1,479,567 shares.
More About Paychex, Inc.
Paychex competes in the payroll outsourcing industry. It is the second-largest player in terms of revenue and focuses on providing this service to small and midsize businesses. Paychex was created from the consolidation of 17 payroll processors in 1979 and services about 590,000 clients. The firm has almost 13,000 employees and is based in Rochester, New York.