Paychex Stock Hits New 52-Week High (PAYX)

NEW YORK (TheStreet) -- Paychex (Nasdaq:PAYX) hit a new 52-week high Wednesday as it is currently trading at $32.82, above its previous 52-week high of $32.73 with 324,752 shares traded as of 10:05 a.m. ET. Average volume has been 2.8 million shares over the past 30 days.

Paychex has a market cap of $11.55 billion and is part of the services sector and diversified services industry. Shares are up 5.8% year to date as of the close of trading on Tuesday.

Paychex, Inc. provides payroll, human resource, and benefits outsourcing solutions for small to medium sized businesses. The company has a P/E ratio of 21.1, equal to the average diversified services industry P/E ratio and above the S&P 500 P/E ratio of 17.7.

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TheStreet Ratings rates Paychex as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, expanding profit margins, growth in earnings per share, largely solid financial position with reasonable debt levels by most measures and increase in net income. We feel these strengths outweigh the fact that the company shows weak operating cash flow. You can view the full Paychex Ratings Report.

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