But the tax-preparation and accounting side of the business are increasingly threatened by more powerful personal computers and software.
Fools know what that means.
The stock has rebounded a bit, as of late, partly on the strength of a Smith Barney upgrade of the stock to near-term buy last July 11th. One month before, Merrill Lynch had also upgraded the stock to near-term buy. We view both these developments as bullish for short sellers. A final reason we like PAYX as a short is the very low current level of short interest out on the stock. This number is reported once a month, appearing in your financial daily during the third or fourth week.