Bank of Montreal Can Reduces Stake in Paychex, Inc.

The financial services firm trimmed its position in the payroll and HR services provider.

Mar. 13, 2026 at 7:27am

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Bank of Montreal Can, a major institutional investor, reduced its stake in Paychex, Inc. by 14.6% in the third quarter, according to a recent SEC filing. The fund now owns 420,343 shares of the business services provider's stock, worth approximately $53.3 million.

Why it matters

Paychex is a leading provider of payroll, HR, and benefits services to small and medium-sized businesses. Changes in institutional ownership can signal shifts in investor sentiment and market expectations around the company's performance.

The details

Bank of Montreal Can sold 72,039 shares of Paychex during the third quarter, reducing its total position to 420,343 shares. The firm now owns approximately 0.12% of Paychex's outstanding stock. Several other major institutional investors also made changes to their Paychex holdings last quarter, with some increasing and others decreasing their positions.

  • Bank of Montreal Can filed the 13F report disclosing the stake reduction on March 13, 2026.

The players

Bank of Montreal Can

A major Canadian financial services firm that manages investments and provides banking services.

Paychex, Inc.

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

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The takeaway

The reduction in Bank of Montreal Can's Paychex stake suggests the firm may have a less bullish outlook on the company's near-term prospects, though Paychex remains an important holding. Investors will likely watch for any further changes in institutional ownership as an indicator of broader market sentiment around the stock.