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Indivisible Partners Invests $3.50 Million in Paychex, Inc. $PAYX
Indivisible Partners initiated a new position in Paychex, Inc. (NASDAQ:PAYX), purchasing 31,216 shares valued at $3.50 million, contributing to institutional investors owning 83.47% of the company. Paychex reported strong quarterly results, beating EPS and revenue estimates, and announced an increased quarterly dividend of $1.19 per share along with a $1.00 billion share buyback program. Despite positive financial performance and dividend increase, several analysts have trimmed price targets, resulting in a consensus “Reduce” rating for the stock.