Paychex (PAYX) Stock Forecast & Price Target

$115.80 +0.62 (+0.54%)

Closing price 09/11/2026 04:00 PM Eastern

Extended Trading

$115.83 +0.03 (+0.02%)

As of 09/11/2026 07:35 PM Eastern

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Paychex - Analysts' Recommendations and Stock Price Forecast (2026)

Consensus Rating

Hold

Based on 18 Analyst Ratings

Sell
4

Hold
10

Buy
4

Based on 18 Wall Street analysts who have issued ratings for Paychex in the last 12 months, the stock has a consensus rating of "Hold." Out of the 18 analysts, 4 have given a sell rating, 10 have given a hold rating, 3 have given a buy rating, and 1 has given a strong buy rating for PAYX.

Consensus Price Target

$126.76
9.47% Upside

According to the 18 analysts' twelve-month price targets for Paychex, the average price target is $126.76. The highest price target for PAYX is $225.00, while the lowest price target for PAYX is $52.00. The average price target represents a forecasted upside of 9.47% from the current price of $115.80.

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.

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PAYX Analyst Ratings Over Time

Type	Current Forecast 9/13/25 to 9/13/26	1 Month Ago 8/14/25 to 8/14/26	3 Months Ago 6/15/25 to 6/15/26	1 Year Ago 9/13/24 to 9/13/25
Strong Buy	1 Strong Buy rating(s)	1 Strong Buy rating(s)	1 Strong Buy rating(s)	0 Strong Buy rating(s)
Buy	3 Buy rating(s)	3 Buy rating(s)	1 Buy rating(s)	0 Buy rating(s)
Hold	10 Hold rating(s)	10 Hold rating(s)	12 Hold rating(s)	10 Hold rating(s)
Sell	4 Sell rating(s)	4 Sell rating(s)	4 Sell rating(s)	1 Sell rating(s)
Consensus Price Target	$126.76	$121.94	$106.63	$149.70
Forecasted Upside	9.47% Upside	-0.06% Downside	5.67% Upside	10.80% Upside
Consensus Rating	Hold	Hold	Reduce	Reduce

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	Industrials Companies	Broader Market
Consensus Rating Score	2.06	2.30	2.53
Consensus Rating	Hold	Hold	Moderate Buy
Predicted Upside	9.47% Upside	99.96% Upside	16.41% Upside
News Sentiment Rating	Positive News See Recent PAYX News	Positive News	Positive News

Recent Analyst Forecasts and Stock Ratings

Rating

Upside/Downside

Action

Time Frame

Start Date

End Date

Show

Export

Date	Brokerage	Analyst	Action	Rating	Price Target	Report Date Upside/Downside
9/11/2026	TD Cowen 3 of 5 stars	Bryan Bergin Not Rated	Boost Target	Hold	$98.00 ➝ $117.00	+1.58%
9/9/2026	Wells Fargo & Company 3 of 5 stars	Jason Kupferberg Not Rated	Boost Target	Underweight	$95.00 ➝ $111.00	-5.07%
9/9/2026	Stifel Nicolaus 4 of 5 stars	David Grossman 1 of 5 stars	Boost Target	Hold	$110.00 ➝ $130.00	+12.43%
9/4/2026	Stephens Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating		Initiated Coverage	Equal Weight	$132.00	+5.53%
8/12/2026	Jefferies Financial Group Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Samad Samana Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Boost Target	Hold	$105.00 ➝ $120.00	-0.31%
7/30/2026	Citigroup Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Bryan Keane Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Boost Target	Buy	$140.00 ➝ $150.00	+22.82%
7/22/2026	UBS Group Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Kevin McVeigh Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Boost Target	Neutral	$105.00 ➝ $115.00	+2.72%
7/20/2026	Weiss Ratings Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating		Upgrade	Hold (C-) ➝ Hold (C)
7/20/2026	Cantor Fitzgerald Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating		Reiterated Rating	Underweight	$107.00	-5.09%
7/16/2026	Raymond James Financial Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating		Upgrade	Market Perform ➝ Outperform	$210.00	+82.14%
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.
7/15/2026	Bank of America Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating		Lower Target		$450.00 ➝ $225.00	+95.15%
6/30/2026	Morgan Stanley Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	James Faucette Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Boost Target	Equal Weight	$107.00 ➝ $109.00	+9.21%
6/25/2026	JPMorgan Chase & Co. Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Tien-Tsin Huang Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Boost Target	Underweight	$100.00 ➝ $105.00	+9.03%
5/28/2026	Royal Bank Of Canada Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Ashish Sabadra Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Reiterated Rating	Sector Perform
3/27/2026	Argus Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating		Upgrade	Strong-Buy
3/26/2026	BMO Capital Markets Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Daniel Jester Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Boost Target	Outperform	$52.00	-42.79%
3/26/2026	Robert W. Baird Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Mark Marcon Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Lower Target	Neutral	$148.00 ➝ $125.00	+33.89%
3/19/2026	Guggenheim Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Jacob Smith Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Initiated Coverage	Neutral
12/10/2025	Wolfe Research Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating		Lower Target	Underperform	$130.00 ➝ $115.00	+2.00%
6/24/2025	Barclays Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Ramsey El-Assal Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Set Target	Equal Weight	$155.00	+2.91%
3/27/2025	Cfra Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	S. Gheewala Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Upgrade	Hold

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Sunday at 08:55 PM ET.

Should I Buy Paychex Stock? PAYX Pros and Cons Explained

These pros and cons were generated based on recent news and financial data from MarketBeat in order to provide readers with the fastest and most accurate insights. They were last updated on Friday, September 11, 2026. Please send any questions or comments about these Paychex pros and cons to contact@marketbeat.com.

Paychex
Bull Case

Here are some ways that investors could benefit from investing in Paychex, Inc.:

Paychex, Inc. recently reported strong financial performance for the quarter ended June 24, 2026, with earnings per share of $1.32, which exceeded the consensus estimate of $1.31, and revenue of $1.61 billion, surpassing the expected $1.60 billion, demonstrating the company's ability to outperform market expectations and drive shareholder value through robust operational execution.
The company offers a compelling income opportunity with a dividend yield of 4.13%, as it recently paid a quarterly dividend of $1.19 per share on August 28, 2026, providing a consistent cash flow stream for income-focused investors that is significantly higher than the average yield in the broader market.
Paychex, Inc. is currently trading at $115.80, which is below the consensus price target of $125.65 and significantly lower than the $150.00 target set by Citi analyst Bryan Keane on September 11, 2026, suggesting potential upside for investors who believe in the company's AI-driven WISE platform and revenue-per-client growth trajectory.
The stock has demonstrated resilience and recovery potential, having risen from its 52-week low of $85.45 to the current price of $115.80, indicating that the market is beginning to revalue the company after a period of decline, with a beta of 0.82 suggesting lower volatility compared to the broader market.
Paychex, Inc. serves approximately 840,000 clients and manages operations for 1 in 11 private sector U.S. workers, providing a diversified and recurring revenue base that is less susceptible to economic downturns, as businesses continue to rely on essential payroll and human resources services regardless of market conditions.

Paychex
Bear Case

Investors should be bearish about investing in Paychex, Inc. for these reasons:

The company has a high dividend payout ratio of 97.34%, meaning it is distributing nearly all of its earnings to shareholders, which may limit its ability to reinvest in growth initiatives or absorb financial shocks, potentially constraining long-term capital appreciation and operational flexibility.
Paychex, Inc. has a debt-to-equity ratio of 1.22, indicating a relatively high level of leverage compared to its equity base, which could increase financial risk and interest expense obligations, particularly if interest rates remain elevated or if the company faces revenue headwinds.
Recent insider activity has been predominantly negative, with CFO Robert Schrader selling 2,600 shares on July 20, 2026, and Director Joseph Tucci selling 3,907 shares on June 26, 2026, suggesting that company insiders may be taking profits or reducing their exposure to the stock, which could signal a lack of confidence in near-term price appreciation.
The stock has a consensus rating of "Hold" from analysts, with a consensus price target of $125.65, which is only about 8.5% above the current price of $115.80, indicating limited upside potential and a cautious outlook from the broader investment community regarding the company's future growth prospects.
Paychex, Inc. has experienced a significant decline in its stock price from its 52-week high of $135.97 to the current level of $115.80, representing a drop of approximately 15%, which may reflect underlying concerns about the company's valuation, competitive positioning, or macroeconomic headwinds affecting the business services sector.

PAYX Forecast - Frequently Asked Questions

According to the research reports of 18 Wall Street equities research analysts, the average twelve-month stock price forecast for Paychex is $126.76, with a high forecast of $225.00 and a low forecast of $52.00.

18 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Paychex in the last year. There are currently 4 sell ratings, 10 hold ratings, 3 buy ratings and 1 strong buy rating for the stock. The consensus among Wall Street research analysts is that investors should "hold" PAYX shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in PAYX, but not buy additional shares or sell existing shares.

According to analysts, Paychex's stock has a predicted upside of 9.47% based on their 12-month stock forecasts.

Over the previous 90 days, Paychex's stock had 3 upgrades by analysts.

Paychex has been rated by research analysts at Bank of America, Cantor Fitzgerald, Citigroup, Jefferies Financial Group, JPMorgan Chase & Co., Morgan Stanley, Raymond James Financial, Stephens, Stifel Nicolaus, TD Cowen, UBS Group, Weiss Ratings, and Wells Fargo & Company in the past 90 days.

Analysts like Paychex less than other "industrials" companies. The consensus rating score for Paychex is 2.06 while the average consensus rating score for "industrials" companies is 2.30. Learn more on how PAYX compares to other companies.

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MarketBeat monitors more than a dozen sources for Paychex analyst ratings, with the most recent rating issued on 9/11/2026.

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Paychex (PAYX) Stock Forecast & Price Target