Phillip Horsley, Director at PAYCHEX INC (PAYX), sold 5,000 shares at $31.76 ($159K) on 2012-07-05, disclosed to the SEC on 2012-07-06.
Seasonal sale ($159k) by Director — this insider has traded PAYX in July in at least three consecutive prior years. Pattern-driven, low signal.
Negative factors outweigh the positive ones.