Fri Sep 20 12:10:39 UTC 2024: ## Skandinaviska Enskilda Banken Increases Stake in Paychex, Inc.

**New York, NY** – Skandinaviska Enskilda Banken AB publ (SEB) has significantly increased its stake in Paychex, Inc. (NASDAQ:PAYX) during the second quarter, according to a recent SEC filing. SEB purchased an additional 80,427 shares of the business services provider, boosting its holdings by 27.9% and bringing its total stake to 369,125 shares. This represents approximately 0.10% of Paychex, valued at $43,727,000 at the end of the reporting period.

Other institutional investors have also shown interest in Paychex, with several increasing their holdings in recent quarters. Notably, Meeder Asset Management Inc. grew its stake by 286.0%, ORG Partners LLC by 227.6%, and American National Bank by 166.7%. This indicates a growing confidence in Paychex’s performance and future prospects among institutional investors.

Meanwhile, director David J. S. Flaschen has sold shares of the company on multiple occasions in recent months. In August, he sold 14,434 shares for a total value of $1,807,281.14, followed by another sale of 9,615 shares in July for $1,207,644.00. While these sales represent a significant portion of his personal holdings, it’s worth noting that insiders still own 11.50% of the company’s stock.

Paychex reported strong quarterly earnings on June 26th, beating analysts’ estimates with $1.12 EPS. The company also declared a quarterly dividend of $0.98 per share, representing a yield of 2.94%.

Overall, Paychex continues to see positive interest from institutional investors, indicating confidence in its business model and future growth. While insider sales may suggest some short-term caution, the overall picture remains favorable for Paychex.

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