Paychex Likely To Report Higher Q1 Earnings; Here's A Look At Recent Price Target Changes By The Most Accurate Analysts

Paychex, Inc. PAYX is expected to report financial results for its fiscal 2024 first quarter ended Aug. 31, 2023, before the opening bell on Sept. 27, 2023.

Analysts expect the company to post quarterly earnings at $1.12 per share, up from year-ago earnings of $1.03 per share. The company’s revenue might come in at $1.29 billion, compared to $1.19 billion in the year-ago period.

Paychex shares fell 1.4% to close at $112.72 on Tuesday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let’s have a look at how Benzinga’s most-accurate analysts have rated the company in the recent period.

• Wedbush analyst Moshe Katri reiterated a Neutral rating with a price target of $115 on Sept. 26, 2023. This analyst has an accuracy rate of 66%.
• JP Morgan analyst Tien-Tsin Huang maintained an Underweight rating and boosted the price target from $114 to $134 on Aug. 22, 2023. This analyst has an accuracy rate of 63%.
• Baird analyst Mark Marcon maintained a Neutral rating and cut the price target from $134 to $126 on July 3, 2023. This analyst has an accuracy rate of 73%.
• Morgan Stanley analyst James Faucette reiterated an Equal-Weight rating with a price target of $125 on July 3, 2023. This analyst has an accuracy rate of 68%.
• Stifel analyst David Grossman maintained a Hold rating and raised the price target from $119 to $122 on March 30, 2023. This analyst has an accuracy rate of 69%.

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