A significant number of shares of Paychex, Inc. (NASDAQ: PAYX) were reportedly sold by Clearbridge Investments, Jump Financial LLC, Versor Investments, and Allspring Global Investments among others. However, BI Asset Management Fondsmaeglerselskab A S increased its holdings. While the stock has encountered some losses, certain reports indicate that the market may be overreacting to Paychex's earnings. The company's Q4 earnings matched estimates, beating Q2 earnings expectations but falling short for Q1 and Q2 revenue estimates. Despite this, the firm's Q3 earnings and revenues beat estimates, and it appears to have gained considerable returns on investment of 119%. Paychex faced a dip in stock value, and the firm issued a larger dividend than the previous year. It's largely owned by institutional shareholders, with 73-74% ownership reported multiple times. Forecasts for the firm's Q3 2026 earnings stand at $1.46 per share. Amid these market movements, Paychex launched a new $400 million stock buyback and was named among FORTUNE's Most Innovative Companies.
Paychex PAYX News Analytics from Mon, 14 Aug 2023 07:00:00 GMT to Sun, 26 May 2024 10:37:25 GMT -
Rating 0
- Innovation 6
- Information 8
- Rumor 0
