Vanguard Group Inc. significantly increased its stake in Paychex, Inc. (NASDAQ:PAYX) during the third quarter, purchasing over 5.5 million additional shares and bringing its total holdings to 37.7 million shares valued at $4.78 billion. Several other institutional investors also bought shares of PAYX. Analyst ratings are mixed, with a consensus “Reduce” rating and an average price target of $123.94, while the company recently announced a quarterly dividend and a $1 billion share buyback program.
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
Paychex, Inc. $PAYX Shares Bought by Vanguard Group Inc.
Vanguard Group Inc. significantly increased its stake in Paychex, Inc. (NASDAQ:PAYX) during the third quarter, purchasing over 5.5 million additional shares and bringing its total holdings to 37.7 million shares valued at $4.78 billion. Several other institutional investors also bought shares of PAYX. Analyst ratings are mixed, with a consensus “Reduce” rating and an average price target of $123.94, while the company recently announced a quarterly dividend and a $1 billion share buyback program.