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Shares of Paychex Inc Has Risen Above Previous 52-Week High

By David Diaz

Paychex Inc (NASDAQ:PAYX) traded at a new 52-week high today of $86.99. So far today approximately 160,000 shares have been exchanged, as compared to an average 30-day volume of 1.6 million shares.

Over the past year, Paychex Inc has traded in a range of $61.32 to $86.99 and is now at $86.93, 42% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.7% while the 200-day MA has risen 0.4%.

Paychex, Inc. provides comprehensive payroll and integrated human resource and employee benefits outsourcing solutions for small to medium-sized businesses in the United States. The Company's services range from calculating payroll and filing tax payments to administering retirement plans and workers' compensation.

Paychex Inc (NASDAQ:PAYX) is currently priced 26.0% above its average consensus analyst price target of $64.33. The stock should discover initial support at its 50-day moving average (MA) of $81.76 and subsequent support at its 200-day MA of $73.29.

SmarTrend is tracking the current trend status for Paychex Inc and will alert subscribers who have PAYX in their portfolio or watchlist when shares have changed trend direction.

Keywords: 52 week high/lows paychex inc

Ticker(s): PAYX