Rafferty Asset Management Boosts Stake in Paychex

Institutional investor increases holdings in payroll and HR services provider

Mar. 3, 2026 at 12:39am

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Rafferty Asset Management LLC, an investment management firm, has increased its stake in Paychex, Inc. (NASDAQ:PAYX) by 14.3% during the third quarter, according to a recent SEC filing. The fund now owns 123,353 shares of the business services provider's stock, valued at $15.6 million.

Why it matters

Paychex is a leading provider of payroll, HR, and benefits services for small and medium-sized businesses. Institutional investors closely monitor changes in ownership of the company's stock, as it can signal broader market sentiment and investment trends in the HR technology sector.

The details

According to the filing, Rafferty Asset Management acquired an additional 15,430 shares of Paychex during the third quarter, bringing its total holdings to 123,353 shares. The investment firm's increased stake in Paychex reflects its belief in the company's growth potential and competitive position in the market for outsourced payroll and HR solutions.

  • Rafferty Asset Management increased its Paychex holdings during the third quarter of 2026.

The players

Rafferty Asset Management LLC

An investment management firm that has increased its stake in Paychex, Inc.

Paychex, Inc.

A provider of payroll, HR, and benefits outsourcing solutions for small and medium-sized businesses.

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The takeaway

Rafferty Asset Management's increased investment in Paychex suggests the firm sees long-term growth potential in the company's payroll and HR services offerings, which could signal broader optimism about the HR technology sector among institutional investors.