Paychex Stock Market Value
| PAYX Stock | USD 146.27 0.56 0.38% |
| Symbol | Paychex |
Paychex Price To Book Ratio
Is Human Resource & Employment Services space expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Paychex. If investors know Paychex will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Paychex listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth 0.017 | Dividend Share 3.74 | Earnings Share 4.69 | Revenue Per Share 14.747 | Quarterly Revenue Growth 0.025 |
The market value of Paychex is measured differently than its book value, which is the value of Paychex that is recorded on the company's balance sheet. Investors also form their own opinion of Paychex's value that differs from its market value or its book value, called intrinsic value, which is Paychex's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Paychex's market value can be influenced by many factors that don't directly affect Paychex's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Paychex's value and its price as these two are different measures arrived at by different means. Investors typically determine if Paychex is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Paychex's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.
Paychex 'What if' Analysis
In the world of financial modeling, what-if analysis is part of sensitivity analysis performed to test how changes in assumptions impact individual outputs in a model. When applied to Paychex's stock what-if analysis refers to the analyzing how the change in your past investing horizon will affect the profitability against the current market value of Paychex.
| 06/03/2024 |
| 11/30/2024 |
If you would invest 0.00 in Paychex on June 3, 2024 and sell it all today you would earn a total of 0.00 from holding Paychex or generate 0.0% return on investment in Paychex over 180 days. Paychex is related to or competes with Robert Half, ManpowerGroup, Upwork, Insperity, Korn Ferry, Kforce, and Kelly Services. Paychex, Inc. provides integrated human capital management solutions for human resources , payroll, benefits, and insura... More
Paychex Upside/Downside Indicators
Understanding different market momentum indicators often help investors to time their next move. Potential upside and downside technical ratios enable traders to measure Paychex's stock current market value against overall market sentiment and can be a good tool during both bulling and bearish trends. Here we outline some of the essential indicators to assess Paychex upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.8286 | |||
| Information Ratio | 0.046 | |||
| Maximum Drawdown | 8.29 | |||
| Value At Risk | (1.46) | |||
| Potential Upside | 2.19 |
Paychex Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Paychex's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Paychex's standard deviation. In reality, there are many statistical measures that can use Paychex historical prices to predict the future Paychex's volatility.| Risk Adjusted Performance | 0.1204 | |||
| Jensen Alpha | 0.0673 | |||
| Total Risk Alpha | (0.03) | |||
| Sortino Ratio | 0.072 | |||
| Treynor Ratio | 0.1992 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Paychex's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Paychex Backtested Returns
At this stage we consider Paychex Stock to be very steady. Paychex maintains Sharpe Ratio (i.e., Efficiency) of 0.14, which implies the firm had a 0.14% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Paychex, which you can use to evaluate the volatility of the company. Please check Paychex's Coefficient Of Variation of 657.54, semi deviation of 0.5502, and Risk Adjusted Performance of 0.1204 to confirm if the risk estimate we provide is consistent with the expected return of 0.18%. Paychex has a performance score of 10 on a scale of 0 to 100. The company holds a Beta of 0.94, which implies possible diversification benefits within a given portfolio. Paychex returns are very sensitive to returns on the market. As the market goes up or down, Paychex is expected to follow. Paychex right now holds a risk of 1.32%. Please check Paychex treynor ratio, expected short fall, as well as the relationship between the Expected Short fall and day median price , to decide if Paychex will be following its historical price patterns.
Auto-correlation | 0.53 |
Modest predictability
Paychex has modest predictability. Overlapping area represents the amount of predictability between Paychex time series from 3rd of June 2024 to 1st of September 2024 and 1st of September 2024 to 30th of November 2024. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Paychex price movement. The serial correlation of 0.53 indicates that about 53.0% of current Paychex price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.53 | |
| Spearman Rank Test | 0.65 | |
| Residual Average | 0.0 | |
| Price Variance | 28.59 |
Paychex lagged returns against current returns
Autocorrelation, which is Paychex stock's lagged correlation, explains the relationship between observations of its time series of returns over different periods of time. The observations are said to be independent if autocorrelation is zero. Autocorrelation is calculated as a function of mean and variance and can have practical application in predicting Paychex's stock expected returns. We can calculate the autocorrelation of Paychex returns to help us make a trade decision. For example, suppose you find that Paychex has exhibited high autocorrelation historically, and you observe that the stock is moving up for the past few days. In that case, you can expect the price movement to match the lagging time series.
Current and Lagged Values |
| Timeline |
Paychex regressed lagged prices vs. current prices
Serial correlation can be approximated by using the Durbin-Watson (DW) test. The correlation can be either positive or negative. If Paychex stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Paychex stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Paychex stock over time.
Current vs Lagged Prices |
| Timeline |
Paychex Lagged Returns
When evaluating Paychex's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Paychex stock have on its future price. Paychex autocorrelation represents the degree of similarity between a given time horizon and a lagged version of the same horizon over the previous time interval. In other words, Paychex autocorrelation shows the relationship between Paychex stock current value and its past values and can show if there is a momentum factor associated with investing in Paychex.
Regressed Prices |
| Timeline |
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Analyzing currently trending equities could be an opportunity to develop a better portfolio based on different market momentums that they can trigger. Utilizing the top trending stocks is also useful when creating a market-neutral strategy or pair trading technique involving a short or a long position in a currently trending equity.Additional Tools for Paychex Stock Analysis
When running Paychex's price analysis, check to measure Paychex's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Paychex is operating at the current time. Most of Paychex's value examination focuses on studying past and present price action to predict the probability of Paychex's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Paychex's price. Additionally, you may evaluate how the addition of Paychex to your portfolios can decrease your overall portfolio volatility.