Paychex (PAYX) Stock Forecast & Price Target

$127.03

+1.78 (+1.42%)

(As of 08/21/2024 ET)

Paychex - Analysts' Recommendations and Stock Price Forecast (2024)

MarketBeat calculates consensus analyst ratings for stocks using the most recent rating from each Wall Street analyst that has rated a stock within the last twelve months. Each analyst's rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Analyst consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings from Wall Street analysts. Each stock's consensus analyst rating is derived from its calculated consensus ratings score (0 to .5 = Strong Sell, .5 to 1 = Sell, 1 to 1.5 = Reduce, 1.5 to 2.5 = Hold, 2.5 to 3.0 = Moderate Buy, 3.0 to 3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.

Consensus Rating

Reduce
Based on 12 Analyst Ratings

Based on 12 Wall Street analysts who have issued ratings for Paychex in the last 12 months, the stock has a consensus rating of "Reduce." Out of the 12 analysts, 2 have given a sell rating, and 10 have given a hold rating for PAYX.

Consensus Price Target

$122.62
-3.48% Downside

High Forecast	$130.00
Average Forecast	$122.62
Low Forecast	$113.00

According to the 12 analysts' twelve-month price targets for Paychex, the average price target is $122.62. The highest price target for PAYX is $130.00, while the lowest price target for PAYX is $113.00. The average price target represents a forecasted downside of -3.48% from the current price of $127.03.

Type	Current Forecast 8/23/23 to 8/22/24	1 Month Ago 7/24/23 to 7/23/24	3 Months Ago 5/25/23 to 5/24/24	1 Year Ago 8/23/22 to 8/23/23
Consensus Rating	Reduce	Reduce	Reduce	Hold
Strong Buy	0 Strong Buy rating(s)	0 Strong Buy rating(s)	0 Strong Buy rating(s)	0 Strong Buy rating(s)
Buy	0 Buy rating(s)	0 Buy rating(s)	0 Buy rating(s)	4 Buy rating(s)
Hold	10 Hold rating(s)	10 Hold rating(s)	9 Hold rating(s)	4 Hold rating(s)
Sell	2 Sell rating(s)	2 Sell rating(s)	2 Sell rating(s)	3 Sell rating(s)
Consensus Price Target	$122.62	$122.46	$123.00	$122.69
Forecasted Upside	-3.48% Downside	3.59% Upside	3.43% Upside	6.14% Upside

Get Paychex Upgrade and Downgrade Alerts

Sign-up to receive the latest news and ratings for PAYX and its competitors with MarketBeat's FREE daily newsletter.

Ad Colonial Metals

Wanted Dead: Petrodollar

The death of the "petrodollar" seems imminent. And the implications could not be worse for Americans. Russia, China and India have decided to abandon the petrodollar.

In answer to this issue, we have released a Special Report to the public.

PAYX Analyst Recommendations By Month

The chart below shows how a company's ratings by analysts have changed over time. Each bar represents the previous year of ratings for that month. Within each bar, the sell ratings are shown in red, the hold ratings are shown in yellow, the buy ratings are shown in green, and the strong buy ratings are shown in dark green.

PAYX Price Targets by Month

The chart below shows how a company's share price and consensus price target have changed over time. The dark blue line represents the company's actual price. The lighter blue line represents the stock's consensus price target. The even lighter blue range in the background of the two lines represents the low price target and the high price target for each stock.

Paychex Stock vs. The Competition

Type	Paychex	Business Services Companies	S&P 500
Consensus Rating Score	1.83	2.66	2.51
Consensus Rating	Reduce	Moderate Buy	Moderate Buy
Predicted Upside	-3.48% Downside	321.66% Upside	8.75% Upside
News Sentiment Rating	Positive News	Neutral News	Positive News

Recent Analyst Forecasts and Stock Ratings

Rating

Upside/Downside

Action

Time Frame

Start Date

End Date

Show

Export to Excel

Date	Brokerage	Action	Rating	Price Target	Upside/Downside on Report Date
8/20/2024	JPMorgan Chase & Co. 3 of 5 stars	Boost Target	Underweight ➝ Underweight	$120.00 ➝ $128.00	+2.47%
7/1/2024	Barclays 3 of 5 stars	Lower Target	Equal Weight ➝ Equal Weight	$120.00 ➝ $118.00	-0.91%
6/27/2024	Morgan Stanley 3 of 5 stars	Lower Target	Equal Weight ➝ Equal Weight	$125.00 ➝ $122.00	+3.79%
6/27/2024	Royal Bank of Canada Subscribe to MarketBeat All Access for the recommendation accuracy rating	Reiterated Rating	Sector Perform ➝ Sector Perform	$130.00 ➝ $130.00	+11.04%
6/27/2024	Bank of America Subscribe to MarketBeat All Access for the recommendation accuracy rating	Boost Target	Underperform ➝ Underperform	$111.00 ➝ $113.00	-3.74%
6/27/2024	Robert W. Baird Subscribe to MarketBeat All Access for the recommendation accuracy rating	Lower Target	Neutral ➝ Neutral	$126.00 ➝ $124.00	+5.63%
Get the Latest News and Ratings for PAYX and Related Stocks Enter your email address below to receive the latest news and analysts' ratings for Paychex and its competitors with MarketBeat's FREE daily newsletter.
4/3/2024	TD Cowen Subscribe to MarketBeat All Access for the recommendation accuracy rating	Lower Target	Hold ➝ Hold	$122.00 ➝ $121.00	+0.52%
4/3/2024	Wedbush Subscribe to MarketBeat All Access for the recommendation accuracy rating	Reiterated Rating	Neutral ➝ Neutral	$115.00	-5.80%
3/26/2024	Evercore ISI Subscribe to MarketBeat All Access for the recommendation accuracy rating	Reiterated Rating	In-Line ➝ In-Line	$118.00	-1.14%
12/26/2023	Citigroup Subscribe to MarketBeat All Access for the recommendation accuracy rating	Lower Target	Neutral ➝ Neutral	$130.00 ➝ $125.00	+4.29%
12/22/2023	Stifel Nicolaus Subscribe to MarketBeat All Access for the recommendation accuracy rating	Boost Target	Hold ➝ Hold	$124.00 ➝ $130.00	+9.34%
11/7/2023	UBS Group Subscribe to MarketBeat All Access for the recommendation accuracy rating	Initiated Coverage	Neutral	$120.00	+7.63%
10/3/2023	Argus Subscribe to MarketBeat All Access for the recommendation accuracy rating	Boost Target		$125.00 ➝ $130.00	+14.26%
6/30/2023	VNET Group Subscribe to MarketBeat All Access for the recommendation accuracy rating	Reiterated Rating	Maintains
6/2/2023	3M Subscribe to MarketBeat All Access for the recommendation accuracy rating	Reiterated Rating	Initiates
1/3/2023	Deutsche Bank Aktiengesellschaft Subscribe to MarketBeat All Access for the recommendation accuracy rating	Lower Target		$123.00 ➝ $116.00	+0.38%
12/22/2022	Jefferies Financial Group Subscribe to MarketBeat All Access for the recommendation accuracy rating	Lower Target	Hold	$130.00 ➝ $120.00	+6.97%
12/2/2022	Moffett Nathanson Subscribe to MarketBeat All Access for the recommendation accuracy rating	Boost Target		$130.00	+3.20%
9/29/2022	Cowen Subscribe to MarketBeat All Access for the recommendation accuracy rating	Boost Target	Outperform	$125.00 ➝ $132.00	+16.78%
9/29/2022	Credit Suisse Group Subscribe to MarketBeat All Access for the recommendation accuracy rating	Lower Target	Outperform	$150.00 ➝ $138.00	+17.57%

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Thursday at 07:11 AM ET.

PAYX Forecast - Frequently Asked Questions

What is Paychex's forecast for 2024?: According to the research reports of 12 Wall Street equities research analysts, the average twelve-month stock price forecast for Paychex is $122.62, with a high forecast of $130.00 and a low forecast of $113.00.
Should I buy or sell Paychex stock right now?: 12 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Paychex in the last year. There are currently 2 sell ratings and 10 hold ratings for the stock. The consensus among Wall Street analysts is that investors should "reduce" PAYX shares.
Does Paychex's stock price have much upside?: According to analysts, Paychex's stock has a predicted upside of 3.40% based on their 12-month stock forecasts.
What analysts cover Paychex?: Paychex has been rated by research analysts at Bank of America, Barclays, JPMorgan Chase & Co., Morgan Stanley, Robert W. Baird, and Royal Bank of Canada in the past 90 days.
Do Wall Street analysts like Paychex more than its competitors?: Analysts like Paychex less than other "business services" companies. The consensus rating for Paychex is Reduce while the average consensus rating for "business services" companies is Moderate Buy. Learn more on how PAYX compares to other companies.