Paychex, Inc. $PAYX Shares Acquired by Truist Financial Corp

Truist Financial Corp recently increased its stake in Paychex, Inc. (NASDAQ:PAYX) by 33.3% during the fourth quarter, now owning 208,150 shares valued at $23.35 million. Other institutional investors like Vanguard Group Inc. and Select Equity Group L.P. have also adjusted their holdings. Analysts have given Paychex an average rating of “Reduce” with a consensus price target of $106.38, while the company has announced a $1 billion stock repurchase program and increased its quarterly dividend.

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