M&T Bank Corp Decreases Holdings in Paychex, Inc. $PAYX

M&T Bank Corp significantly reduced its stake in Paychex, Inc. (NASDAQ:PAYX) by 83.6% in the fourth quarter, selling 93,661 shares and retaining 18,357 shares valued at $2.06 million. Despite institutional investor activity, analyst sentiment towards Paychex is largely mixed-to-negative, with several firms lowering price targets and MarketBeat’s consensus rating being “Reduce” with a target price of $106.38. Paychex recently surpassed quarterly earnings estimates and authorized a $1.0 billion share buyback program.

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