payx is a good stock that I have bought since 1996, however, even a good stock can become overvalued or inappropriate for current conditions where money is moving out of defensive stocks like phillip morris, oils, and paychex and money is moving into higher growth tech stocks which have been battered.
The numbers don't lie. The black and white of it all is that this stock has been riding high for quite sometime now. Another thing to consider is what might happen to this stock if Mr. Gosliano ever decides to start cashing in some of his enormous portfolio (He's wealthy but certainly no spring chicken). It's P/E is still outrageously high and many investors need to face the reality of the situation now and inevitably, to come.
Sir:PAYX P/E has been high for the last Five years now.In regard's to the stock price the earnings report this last 3Q are very good.So if the CEO starts to cash in the earnings will continue to give the stock merit.