Sat Sep 07 11:52:48 UTC 2024: ## Paychex Sees Mixed Investor Activity in Q2

**New York, NY (MarketBeat News) – September 7, 2024** – Paychex, Inc. (NASDAQ:PAYX), a leading provider of human capital management solutions, saw mixed investor activity in the second quarter, according to recent 13F filings.

Foster & Motley Inc. reduced its stake in Paychex by 9%, selling 196 shares. However, several other investors increased their holdings. Impact Partnership Wealth LLC acquired a new position worth $602,000, while Kapstone Financial Advisors LLC, FineMark National Bank & Trust, and Community Bank & Trust Waco Texas all boosted their stakes by 1.5%, 9.5%, and 1.2%, respectively. Simon Quick Advisors LLC saw the largest increase, raising its stake by a significant 54.9%.

Institutional ownership of Paychex stock remains high, with investors currently holding 83.47% of the company’s shares.

Analyst sentiment is more cautious. While JPMorgan Chase & Co. and Royal Bank of Canada raised their price targets, Morgan Stanley and Barclays lowered theirs. Bank of America maintained an “underperform” rating, while JPMorgan Chase & Co. gave an “underweight” rating. Overall, the consensus rating for Paychex is a “Hold” with an average price target of $122.62.

Inside trading activity saw Paychex Chairman Martin Mucci sell 101,490 shares in July, reducing his stake to 437,345 shares. Director David J. S. Flaschen also sold 9,615 shares in the same month.

Paychex reported strong earnings in the second quarter, exceeding analysts’ expectations for both earnings and revenue. The company continues to see growth, with revenue up 5.3% year-over-year.

While some investors have reduced their stakes, others are buying in, highlighting the ongoing interest in Paychex. With strong earnings and continued growth, the company appears poised for continued success in the human capital management space.

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