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Assetmark Inc. Acquires 19,155 Shares of Paychex, Inc. $PAYX
Assetmark Inc. significantly increased its stake in Paychex, Inc. during the fourth quarter, purchasing 19,155 additional shares, bringing its total to 27,461 shares valued at over $3 million. Paychex recently surpassed quarterly earnings expectations and announced a $1 billion share repurchase program. Despite these positives, analyst sentiment remains mixed-to-negative with an average “Reduce” rating and a price target of $106.38.