Paychex, Inc. $PAYX Shares Bought by Teacher Retirement System of Texas

Teacher Retirement System of Texas increased its stake in Paychex (NASDAQ:PAYX) by 58.5% in the fourth quarter, purchasing an additional 59,431 shares to bring its total holdings to 161,053 shares valued at approximately $18.07 million. This move comes as Paychex exceeded quarterly earnings expectations with an EPS of $1.71 and revenue of $1.81 billion, and authorized a $1.0 billion share buyback program. Despite the positive results, analyst sentiment has turned cautious, with several firms cutting price targets and MarketBeat reporting an average “Reduce” rating with a consensus price target of $106.38.

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