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Technology Stocks : Paychex (PAYX)
PAYX 92.47-2.5%3:59 PM EST
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To: Sanjay Latey who wrote (37)4/20/1997 7:40:00 PM
From: Cytokine1   of 210
 
I have owned PAYX since early '95, sold once and it kept going up, bought back again, got a good gain, sold 2/3 of my position a few months ago at $55, and have been rebuilding my position thru the DRIP between $40 and $50. The recent correction is the first major one the stock has suffered in a few years. Although the PE is rather high, recent quarter's earnings have been very solid, and the market often rewards stocks with consistent earnings. That's what we have here: 33% avg over the last five years with an 85 rating for earnings stability (source: Value Line).

So while I love the company, one could argue that it is "overpriced". It reached $63 October last. It may be a while before we see it there again. regards, martink
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