Sat Sep 28 17:18:13 UTC 2024: ## Caxton Associates Trims Paychex Stake, While Other Investors Buy

**New York, NY -** Caxton Associates LP, a prominent institutional investor, has significantly reduced its stake in Paychex, Inc. (NASDAQ:PAYX) during the second quarter of 2024. The firm sold 8,940 shares of the business services provider, resulting in a 71.9% decrease in its holdings.

Despite this move by Caxton Associates, other institutional investors are showing continued confidence in Paychex. Commerzbank Aktiengesellschaft FI increased its holdings by 1.2% during the second quarter, while Geneos Wealth Management Inc. raised its stake by 3.8% in the first quarter. Rockland Trust Co. and KCM Investment Advisors LLC also boosted their positions in Paychex during the first quarter.

Meanwhile, insiders have been selling Paychex stock. Director David J. S. Flaschen sold 9,615 shares on July 26th, while Chairman Martin Mucci sold 101,490 shares on July 1st. In total, insiders sold 147,163 shares of company stock worth $17,537,817 in the last quarter.

Paychex recently reported strong second-quarter earnings, exceeding analyst expectations. The company’s revenue rose 5.3% year-over-year, and it declared a quarterly dividend of $0.98 per share.

Paychex stock opened at $132.99 on Friday, with a market cap of $47.87 billion. Analysts predict that Paychex will post earnings per share of $4.99 for the current fiscal year.

The recent activity in Paychex stock highlights the mixed sentiment surrounding the company. While some investors are trimming their holdings, others are expressing continued confidence in the company’s future prospects.

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