Frank Rimerman Advisors LLC Sells 13,319 Shares of Paychex, Inc. $PAYX

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Frank Rimerman Advisors LLC significantly reduced its stake in Paychex, Inc. (NASDAQ:PAYX) in the fourth quarter, selling 13,319 shares and retaining 2,050 shares. This move comes as several analysts have lowered price targets for Paychex, resulting in a consensus “Reduce” rating with a target price of $108.81. Despite the institutional selling and analyst downgrades, Paychex exceeded its recent quarterly earnings and revenue estimates, maintains a 4.7% dividend yield, and has authorized a $1.0 billion share buyback program.

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