Pictet Asset Management Holding SA Lowers Stock Position in Paychex, Inc. $PAYX

Pictet Asset Management Holding SA significantly reduced its stake in Paychex, Inc. (NASDAQ:PAYX) by 27.2% in the fourth quarter, selling 71,491 shares and ending with 191,572 shares valued at approximately $21.49 million. Despite this reduction, Paychex beat its latest quarterly earnings estimates with $1.71 EPS against $1.67 expected, and its board has authorized a $1.0 billion share repurchase program. Analyst ratings remain mixed, with a consensus “Reduce” rating and a target price of $106.38, while the stock trades near its 50-day simple moving average.

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