Sigma Planning Corp and abrdn plc have reduced their holdings in Paychex, Inc., potentially impacting the stock price.
Stock AI’s forecasts:
🔴 -7.3% short-term ⬇️
🟢 +1.0% long-term ⬆️
Stock AI’s (PAYX) Forecast get (+3.4% Profit)
StockAI’s analysis delivers real-world results. On 21 February 2024, $PAYX ($124.56), StockAI predicted a long-term 🔴 sell signal. It was accurate: 1 month later price dropped to $120.3 (🔴-3.4%). Selling PAYX on this signal yielded a +3.4% profit 💰💰.
PAYX-Paychex, Inc. News
🔴 Sigma Planning Corp decreased its holdings in Paychex, Inc. by 38.6% in the fourth quarter, according to the company’s recent filing with the SEC.
🟢 abrdn plc boosted its stake in Paychex, Inc. by 51.5% in the 4th quarter, according to the company’s most recent disclosure with the SEC.
🔴 Shares of Paychex, Inc. have received an average recommendation of “Reduce” from eleven ratings firms currently covering the stock.
🔴 Russell Investments Group Ltd. cut its holdings in Paychex, Inc. by 19.4% in the 4th quarter, according to the company’s most recent filing with the SEC.
🟢 Cary Street Partners Investment Advisory LLC increased its position in Paychex, Inc. by 9.2% in the fourth quarter, according to its most recent 13F filing with the SEC.
🔴 Independent Advisor Alliance lowered its position in Paychex, Inc. by 7.5% in the fourth quarter, according to the company’s most recent disclosure with the SEC.
Paychex, Inc. has recently seen a mix of positive and negative news impacting its stock price. The decrease in holdings by Sigma Planning Corp and Russell Investments Group Ltd. may have a negative impact on the stock price, as it indicates reduced confidence from these investors. On the other hand, the increase in stake by abrdn plc and Cary Street Partners Investment Advisory LLC may signal positive sentiment towards the company, potentially leading to a price increase.
Overall, the mixed news surrounding Paychex, Inc. suggests that the stock price may experience fluctuations in the short term. Investors should closely monitor any further developments and analyst recommendations to make informed decisions about their investments in the company.
PAYX-Paychex, Inc. Analyst Ratings
📈 Analysts at MarketBeat have rated Paychex, Inc. (NASDAQ:PAYX) as “Reduce”.
📉 Two research analysts have rated the stock with a sell rating.
📉 Johnson Investment Counsel Inc. raised its stake in Paychex, Inc., indicating a negative outlook on the stock.
Sources:
1. Yahoo Finance
2. ETF Daily News
3. ETF Daily News
4. ETF Daily News
5. ETF Daily News
Disclaimer
Investors may consider the AI predictions and news summaries as one factor in their investment decisions alongside their own research and risk tolerance.
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