Morningstar Investment Services LLC has secured 1989 shares in Paychex, Inc. (PAYX), while
Envestnet Asset Management and
Rafferty Asset Management obtained a combined total of approximately 70,000 shares. Conversely,
1832 Asset Management and
Advisory Services Network LLC have lessened their holdings. The Q1 and Q2 earnings for Paychex surpassed estimates, although revenues fell short causing mild stock fluctuations. Still, a sturdy institutional backing and attractive financial aspects for Paychex have resulted in a ‘Hold’ advisory from experts. The company's business performance and high margins were also cited as potential reasons for optimism. Paychex executives announced an increased dividend and a new
$400M stock buyback. However, signals of potential weakness emerged as insiders sold approximately
$3.4m in stock. Dampened client spending slowed down Paychex's quarterly growth. The company's VP,
Stephanie Schaeffer, set her retirement in 2024. Paychex has also received recognition as one of FORTUNE's Most Innovative Companies and appointed
Beaumont Vance as Senior Vice President of Data, Analytics, and AI.
Paychex PAYX News Analytics from Tue, 29 Aug 2023 07:00:00 GMT to Sun, 09 Jun 2024 15:21:08 GMT -
Rating 1
- Innovation 6
- Information 4
- Rumor -4
