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Korea Investment CORP Boosts Stake in Paychex, Inc. $PAYX
Korea Investment CORP increased its holdings in Paychex, Inc. (NASDAQ:PAYX) by 20.6% in the third quarter, now owning 197,444 shares valued at approximately $25 million. Other institutional investors also adjusted their positions in the company, with hedge funds and institutional investors collectively owning 83.47% of the stock. Analysts have given Paychex an average “Reduce” rating with a consensus price target of $123.94, following several target price cuts.