Mon Sep 09 14:26:52 UTC 2024: ## Ausdal Financial Partners Increases Stake in Paychex, While Insiders Sell Shares

**Rochester, NY – September 9, 2024** – Ausdal Financial Partners Inc. has increased its stake in Paychex, Inc. (NASDAQ:PAYX) by 23.9% during the second quarter, according to the firm’s recent Form 13F filing with the Securities and Exchange Commission.

The institutional investor now owns 4,936 shares of Paychex, valued at $585,000, after acquiring an additional 951 shares during the period.

Other institutional investors have also made moves in PAYX stock. Notably, ORG Partners LLC boosted its holdings in the company by 227.6% in the second quarter, while Strategic Financial Concepts LLC, Chilton Capital Management LLC, and ESL Trust Services LLC all purchased new stakes in the business services provider. American National Bank also increased its stake in Paychex by 166.7% during the quarter.

However, insider activity has been more bearish. Director David J. S. Flaschen sold 14,434 shares of Paychex stock on August 5th, followed by another 9,615 shares sold on July 26th. Insiders have sold a total of 147,163 shares of company stock valued at $17,537,817 over the last ninety days.

Paychex recently reported strong earnings for the second quarter, beating analysts’ estimates for both earnings per share and revenue. The company also announced a quarterly dividend, paying $0.98 per share to shareholders.

Despite the recent positive financial performance, analysts remain cautious about Paychex. Several firms, including Robert W. Baird, Barclays, and Morgan Stanley, have lowered their price targets on the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $122.62.

Paychex, Inc. provides integrated human capital management solutions for small to medium-sized businesses in the United States, Europe, and India. The company’s offerings include payroll processing, tax administration, employee payment, regulatory compliance services, and more.

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