Ameriprise Financial Reduces Stake in Paychex

Institutional investor cuts holdings in payroll and HR services provider

Mar. 17, 2026 at 7:08am

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Ameriprise Financial Inc. has reduced its stake in Paychex, Inc. (NASDAQ:PAYX) by 11.2% in the third quarter, according to a filing with the Securities and Exchange Commission. The institutional investor now owns 2,025,524 shares of the business services provider's stock, down from 2,280,715 shares previously.

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 market sentiment and future performance expectations for the company.

The details

Ameriprise Financial sold 255,191 shares of Paychex stock during the third quarter. The firm now owns approximately 0.56% of Paychex's outstanding shares, valued at $254,249,000 as of the end of the reporting period.

  • Ameriprise Financial reduced its Paychex stake in the third quarter of 2026.

The players

Ameriprise Financial Inc.

A diversified financial services firm that provides wealth management, asset management, insurance, annuities, and other financial products and 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 Ameriprise's Paychex holdings could signal broader market concerns about the business services provider's near-term growth prospects, though Paychex remains a major player in the payroll and HR outsourcing industry.