• Consensus Rating: Reduce
  • Consensus Price Target: $122.46
  • Forecasted Upside: -1.43%
  • Number of Analysts: 12
  • Breakdown:
  • 2 Sell Ratings
  • 10 Hold Ratings
  • 0 Buy Ratings
  • 0 Strong Buy Ratings
▼ -2.57 (-2.03%)

This chart shows the closing price for PAYX by one month, three months, or twelve months.

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Analyst Price Target for PAYX

Analyst Price Target is $122.46
▼ -1.43% Downside Potential
This price target is based on 12 analysts offering 12 month price targets for Paychex in the last 3 months. The average price target is $122.46, with a high forecast of $130.00 and a low forecast of $113.00. The average price target represents a -1.43% upside from the last price of $124.24.

This chart shows the closing price for PAYX for the last year in relation to the current analyst high, average, and low pricetarget.

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Current Consensus is Reduce

The current consensus among 12 contributing investment analysts is to reduce stock in Paychex. This Reduce consensus rating has held steady for over two years.

Past Monthly Recommendations

Move your mouse over past months for details

Read Past Recommendations DescriptionSkip Past Price Target Consensus Chart
  • 0 strong buy ratings
  • 0 buy ratings
  • 10 hold ratings
  • 2 sell ratings
  • 0 strong buy ratings
  • 0 buy ratings
  • 10 hold ratings
  • 2 sell ratings
  • 0 strong buy ratings
  • 0 buy ratings
  • 10 hold ratings
  • 2 sell ratings
  • 0 strong buy ratings
  • 0 buy ratings
  • 10 hold ratings
  • 2 sell ratings
  • 0 strong buy ratings
  • 0 buy ratings
  • 10 hold ratings
  • 2 sell ratings
  • 0 strong buy ratings
  • 0 buy ratings
  • 10 hold ratings
  • 2 sell ratings
  • 0 strong buy ratings
  • 0 buy ratings
  • 10 hold ratings
  • 2 sell ratings
  • 0 strong buy ratings
  • 0 buy ratings
  • 10 hold ratings
  • 2 sell ratings

Latest Recommendations

  • 0 strong buy ratings
  • 0 buy ratings
  • 10 hold ratings
  • 2 sell ratings

Display Ratings By
DateBrokerageActionRatingPrice TargetImpact on Share PriceDetails
7/1/2024BarclaysLower TargetEqual Weight ➝ Equal Weight$120.00 ➝ $118.00Low
6/27/2024Morgan StanleyLower TargetEqual Weight ➝ Equal Weight$125.00 ➝ $122.00Low
6/27/2024Royal Bank of CanadaReiterated RatingSector Perform ➝ Sector Perform$130.00 ➝ $130.00Low
6/27/2024Bank of AmericaBoost TargetUnderperform ➝ Underperform$111.00 ➝ $113.00Low
6/27/2024Robert W. BairdLower TargetNeutral ➝ Neutral$126.00 ➝ $124.00Low
5/21/2024Royal Bank of CanadaReiterated RatingSector Perform ➝ Sector Perform$130.00Low
4/3/2024Bank of AmericaBoost TargetUnderperform ➝ Underperform$108.00 ➝ $111.00Low
4/3/2024TD CowenLower TargetHold ➝ Hold$122.00 ➝ $121.00Low
4/3/2024Royal Bank of CanadaReiterated RatingSector Perform ➝ Sector Perform$130.00Low
4/3/2024WedbushReiterated RatingNeutral ➝ Neutral$115.00Low
3/26/2024Evercore ISIReiterated RatingIn-Line ➝ In-Line$118.00Low
12/26/2023CitigroupLower TargetNeutral ➝ Neutral$130.00 ➝ $125.00Low
12/22/2023JPMorgan Chase & Co.Lower TargetUnderweight ➝ Underweight$134.00 ➝ $126.00Low
12/22/2023Royal Bank of CanadaReiterated RatingSector Perform ➝ Sector Perform$130.00Low
12/22/2023TD CowenReiterated RatingOutperform ➝ Market Perform$132.00 ➝ $123.00Low
12/22/2023BarclaysLower TargetEqual Weight ➝ Equal Weight$126.00 ➝ $120.00Low
12/22/2023Stifel NicolausBoost TargetHold ➝ Hold$124.00 ➝ $130.00Low
12/14/2023BarclaysUpgradeUnderweight ➝ Equal Weight$107.00 ➝ $126.00Low
11/7/2023UBS GroupInitiated CoverageNeutral$120.00Low
10/3/2023ArgusBoost Target$125.00 ➝ $130.00Low
9/28/2023TD CowenBoost TargetOutperform ➝ Outperform$130.00 ➝ $131.00Low
9/28/2023Royal Bank of CanadaReiterated RatingSector Perform ➝ Sector Perform$130.00Low
9/28/2023Morgan StanleyBoost TargetEqual Weight ➝ Equal Weight$125.00 ➝ $127.00Low
9/28/2023Bank of AmericaBoost TargetUnderperform ➝ Underperform$103.00 ➝ $106.00Low
9/26/2023WedbushReiterated RatingNeutral ➝ Neutral$115.00Low
9/5/2023Royal Bank of CanadaInitiated CoverageSector Perform$130.00Low
8/22/2023JPMorgan Chase & Co.Boost TargetUnderweight ➝ Underweight$114.00 ➝ $134.00Low
8/17/2023TD CowenBoost TargetOutperform ➝ Outperform$123.00 ➝ $130.00Low
7/3/2023Robert W. BairdLower Target$134.00 ➝ $126.00Low
7/2/2023BarclaysLower Target$109.00 ➝ $106.00Low
6/30/2023Morgan StanleyReiterated RatingEqual Weight ➝ Equal Weight$125.00Low
6/30/2023VNET GroupReiterated RatingMaintainsLow
6/30/2023UBS GroupBoost Target$115.00 ➝ $116.00Low
6/30/2023JPMorgan Chase & Co.Lower TargetUnderweight$123.00 ➝ $114.00Low
6/30/2023Bank of AmericaLower Target$105.00 ➝ $103.00Low
6/2/20233MReiterated RatingInitiatesLow
6/2/2023UBS GroupInitiated CoverageNeutral$115.00Low
4/3/2023BarclaysBoost TargetUnderweight$105.00 ➝ $109.00Low
4/3/2023Bank of AmericaDowngradeNeutral ➝ Underperform$119.00 ➝ $105.00Low
3/30/2023JPMorgan Chase & Co.Boost TargetUnderweight$119.00 ➝ $123.00Low
3/30/2023Stifel NicolausBoost TargetHold$119.00 ➝ $122.00Low
3/13/2023BarclaysLower TargetUnderweight$110.00 ➝ $105.00Low
1/17/2023BarclaysDowngradeEqual Weight ➝ Underweight$110.00Low
1/3/2023Deutsche Bank AktiengesellschaftLower Target$123.00 ➝ $116.00Low
12/27/2022Evercore ISILower Target$117.00 ➝ $114.00Low
12/23/2022JPMorgan Chase & Co.Lower TargetUnderweight$121.00 ➝ $119.00Low
12/23/2022Morgan StanleyLower TargetEqual Weight$130.00 ➝ $125.00Low
12/23/2022CitigroupLower Target$131.00 ➝ $119.00Low
12/23/2022BarclaysLower TargetEqual Weight$127.00 ➝ $115.00Low
12/22/2022Jefferies Financial GroupLower TargetHold$130.00 ➝ $120.00Low
12/22/2022Deutsche Bank AktiengesellschaftLower Target$123.00 ➝ $116.00Low
12/2/2022Moffett NathansonBoost Target$130.00Low
10/5/2022Robert W. BairdBoost Target$134.00Low
9/29/2022CowenBoost TargetOutperform$125.00 ➝ $132.00Low
9/29/2022CowenBoost TargetOutperform$125.00 ➝ $132.00Low
9/29/2022Credit Suisse GroupLower TargetOutperform$150.00 ➝ $138.00Low
7/7/2022CitigroupLower TargetNeutral$145.00 ➝ $125.00N/A
6/30/2022Morgan StanleyLower TargetEqual Weight$140.00 ➝ $130.00Low
6/30/2022CowenLower TargetOutperform$140.00 ➝ $135.00Low
6/30/2022CowenLower TargetOutperform$140.00 ➝ $135.00Low
6/30/2022Deutsche Bank AktiengesellschaftLower TargetHold$145.00 ➝ $123.00Low
6/30/2022Credit Suisse GroupLower TargetOutperform$165.00 ➝ $140.00Low
6/30/2022BarclaysLower TargetEqual Weight$140.00 ➝ $127.00Low
6/29/2022William BlairReiterated RatingMarket PerformLow
6/29/2022Bank of AmericaLower Target$138.00 ➝ $124.00Low
6/21/2022CowenLower TargetOutperform$151.00 ➝ $140.00Low
6/21/2022CowenLower TargetOutperform$151.00 ➝ $140.00Low
5/23/2022Jefferies Financial GroupLower Target$140.00 ➝ $130.00Low
4/6/2022CitigroupBoost TargetNeutral$140.00 ➝ $145.00Medium
3/31/2022Morgan StanleyBoost TargetEqual Weight$135.00 ➝ $140.00Medium
3/31/2022Robert W. BairdBoost Target$137.00 ➝ $142.00Medium
3/9/2022Bank of AmericaUpgradeUnderperform ➝ Neutral$125.00High
1/11/2022CowenUpgradeMarket Perform ➝ Outperform$130.00 ➝ $145.00Low
12/23/2021Morgan StanleyBoost TargetEqual Weight$105.00 ➝ $135.00Low
12/23/2021Stifel NicolausBoost TargetHold$118.00 ➝ $140.00Low
12/23/2021BarclaysBoost TargetEqual Weight$115.00 ➝ $140.00Low
10/13/2021CitigroupLower TargetBuy ➝ Neutral$125.00Medium
10/5/2021CitigroupDowngradeBuy ➝ Neutral$121.00 ➝ $125.00Medium
10/4/2021BarclaysBoost TargetEqual Weight$106.00 ➝ $115.00Low
10/4/2021Robert W. BairdBoost TargetPositive ➝ Neutral$111.00 ➝ $120.00Low
10/1/2021BMO Capital MarketsBoost TargetMarket Perform$112.00 ➝ $118.00High
10/1/2021Morgan StanleyBoost TargetEqual Weight$97.00 ➝ $105.00Medium
10/1/2021Deutsche Bank AktiengesellschaftBoost TargetHold$103.00 ➝ $115.00High
9/30/2021Stifel NicolausBoost TargetIn-Line ➝ Hold$114.00 ➝ $118.00High
8/17/2021JPMorgan Chase & Co.Boost TargetUnderweight$105.00 ➝ $111.00Medium
7/2/2021Wolfe ResearchBoost TargetUnderperform$94.00 ➝ $105.00Low
6/30/2021CitigroupBoost TargetBuy$105.00 ➝ $121.00Low
6/28/2021CowenBoost TargetPositive ➝ Market Perform$96.00 ➝ $106.00Medium
6/28/2021ArgusBoost TargetBuy$106.00 ➝ $118.00Medium
6/28/2021Morgan StanleyBoost TargetEqual Weight$90.00 ➝ $97.00Low
6/28/2021BMO Capital MarketsBoost TargetMarket Perform$96.00 ➝ $108.00Medium
6/28/2021Deutsche Bank AktiengesellschaftBoost TargetHold$98.00 ➝ $103.00Medium
6/28/2021BarclaysBoost TargetEqual Weight$99.00 ➝ $106.00Medium
6/25/2021Jefferies Financial GroupBoost TargetPositive ➝ Hold$95.00 ➝ $115.00Low
4/13/2021Wolfe ResearchReiterated RatingPeer Perform ➝ Underperform$94.00N/A
4/7/2021The Goldman Sachs GroupBoost TargetSell$85.00 ➝ $89.00Medium
4/7/2021Morgan StanleyLower TargetEqual Weight$91.00 ➝ $90.00Medium
4/7/2021Robert W. BairdBoost TargetOutperform$82.00 ➝ $94.00Low
4/7/2021ArgusBoost TargetBuy$103.00 ➝ $105.00Low
4/7/2021BMO Capital MarketsBoost TargetMarket Perform$93.00 ➝ $96.00Low
4/7/2021Wolfe ResearchDowngradeMarket Perform ➝ Underperform$94.00Low
1/5/2021Smith Barney CitigroupBoost Target$93.00 ➝ $105.00N/A
1/4/2021Deutsche Bank AktiengesellschaftBoost TargetHold$81.00 ➝ $98.00N/A
1/4/2021ArgusBoost TargetBuy$92.00 ➝ $103.00N/A
12/28/2020Moffett NathansonBoost Target$100.00 ➝ $105.00N/A
12/28/2020Bank of AmericaBoost Target$70.00 ➝ $81.00N/A
12/28/2020Wolfe ResearchBoost TargetMarket Perform$78.00 ➝ $92.00N/A
12/24/2020BMO Capital MarketsBoost TargetMarket Perform$82.00 ➝ $93.00N/A
12/24/2020Morgan StanleyBoost TargetEqual Weight$76.00 ➝ $91.00N/A
12/23/2020Jefferies Financial GroupReiterated RatingPositive ➝ Hold$85.00 ➝ $95.00N/A
12/18/2020Wells Fargo & CompanyInitiated CoverageOverweight$105.00Medium
10/15/2020ArgusBoost Target$83.00 ➝ $92.00Low
10/12/2020BarclaysBoost TargetEqual Weight$73.00 ➝ $83.00Medium
10/8/2020CitigroupUpgradeNeutral ➝ Buy$75.00 ➝ $93.00Low
10/7/2020BMO Capital MarketsBoost Target$74.00 ➝ $82.00Low
10/7/2020Deutsche Bank AktiengesellschaftBoost TargetHold$75.00 ➝ $81.00Low
10/7/2020Morgan StanleyBoost TargetEqual Weight$74.00 ➝ $76.00Low
8/17/2020JPMorgan Chase & Co.Boost TargetUnderweight$72.00 ➝ $78.00Low
7/14/2020The Goldman Sachs GroupInitiated CoverageSell$64.00Low
7/8/2020BMO Capital MarketsBoost TargetMarket Perform$70.00 ➝ $74.00Low
7/8/2020Morgan StanleyBoost TargetEqual Weight$68.00 ➝ $74.00Low
7/8/2020CitigroupBoost TargetNeutral$65.00 ➝ $75.00Low
7/7/2020Jefferies Financial GroupBoost TargetHold$68.00 ➝ $75.00Low
5/20/2020CowenBoost TargetMarket Perform$60.00 ➝ $65.00Medium
5/20/2020Morgan StanleyBoost TargetHold ➝ Equal Weight$64.00 ➝ $68.00Medium
5/20/2020Deutsche Bank AktiengesellschaftLower TargetHold$80.00 ➝ $75.00Medium
3/26/2020BMO Capital MarketsLower TargetMarket Perform$87.00 ➝ $70.00Medium
3/26/2020Morgan StanleyBoost TargetEqual Weight$61.00 ➝ $65.00High
3/26/2020Robert W. BairdLower TargetNeutral$87.00 ➝ $67.00High
3/25/2020Jefferies Financial GroupLower TargetHold$82.00 ➝ $68.00High
3/24/2020Morgan StanleyLower TargetEqual Weight$67.00 ➝ $61.00High
3/24/2020Stifel NicolausLower TargetHold$87.00 ➝ $55.00High
3/18/2020JPMorgan Chase & Co.Lower TargetUnderweight$91.00 ➝ $70.00High
3/18/2020Morgan StanleyUpgradeUnderweight ➝ Equal Weight$74.00 ➝ $67.00High
3/18/2020CitigroupDowngradeBuy ➝ Neutral$65.00High
1/14/2020CitigroupUpgradeNeutral ➝ Buy$84.00 ➝ $97.00Low
12/19/2019Robert W. BairdBoost TargetNeutral$83.00 ➝ $87.00Low
12/18/2019Jefferies Financial GroupReiterated RatingHold$84.00Low
10/7/2019BarclaysBoost TargetEqual Weight$80.00 ➝ $84.00High
10/3/2019ArgusReiterated RatingBuy$92.00Medium
9/11/2019CowenInitiated CoverageMarket Perform$74.00Low
8/15/2019Morgan StanleyDowngradeEqual Weight ➝ Underweight$77.00 ➝ $74.00High
(Data available from 7/19/2019 forward)

News Sentiment Rating

1.03 (Buy)

Our news sentiment rating is based on the average sentiment of articles about this company published in the media in the last 30 days of headlines and can range from 2 (very positive sentiment) to -2 (very negative sentiment).

News Sentiment Over Time

Move your mouse over past months for details

Skip to Current Sentiment Summary
  • 27 very positive mentions
  • 22 positive mentions
  • 4 negative mentions
  • 0 very negative mentions
  • 28 very positive mentions
  • 38 positive mentions
  • 4 negative mentions
  • 0 very negative mentions
  • 32 very positive mentions
  • 4 positive mentions
  • 0 negative mentions
  • 0 very negative mentions
  • 31 very positive mentions
  • 12 positive mentions
  • 1 negative mentions
  • 0 very negative mentions
  • 32 very positive mentions
  • 34 positive mentions
  • 6 negative mentions
  • 2 very negative mentions
  • 30 very positive mentions
  • 6 positive mentions
  • 0 negative mentions
  • 0 very negative mentions
  • 28 very positive mentions
  • 5 positive mentions
  • 0 negative mentions
  • 0 very negative mentions
  • 31 very positive mentions
  • 15 positive mentions
  • 2 negative mentions
  • 1 very negative mentions

Current Sentiment

  • 31 very positive mentions
  • 15 positive mentions
  • 2 negative mentions
  • 1 very negative mentions
Paychex logo
Paychex, Inc. provides integrated human capital management solutions for human resources (HR), payroll, benefits, and insurance services for small to medium-sized businesses in the United States, Europe, and India. It offers payroll processing services; payroll tax administration services; employee payment services; and regulatory compliance services, such as new-hire reporting and garnishment processing. The company also provides HR solutions, including payroll, employer compliance, HR and employee benefits administration, risk management outsourcing, and the on-site availability of a professionally trained HR representative; and retirement services administration, including plan implementation, ongoing compliance with government regulations, employee and employer reporting, participant and employer online access, electronic funds transfer, and other administrative services. In addition, it offers cloud-based HR administration software products for employee benefits management and administration, time and attendance, digital communication solutions, recruiting, and onboarding solutions; plan administration outsourcing and state unemployment insurance services; various business services to small to medium-sized businesses comprising payroll funding and outsourcing services, which include payroll processing, invoicing, and tax preparation; and payment processing services, financial fitness programs, and a small-business loan resource center. Further, the company provides insurance services for property and casualty coverage, such as workers' compensation, business-owner policies, cyber security protection, and commercial auto, as well as health and benefits coverage, including health, dental, vision, and life. It markets and sells its services primarily through its direct sales force. The company was founded in 1971 and is headquartered in Rochester, New York.
Read More

Today's Range

Now: $124.24
Low: $123.80
High: $128.18

50 Day Range

MA: $121.99
Low: $116.17
High: $126.98

52 Week Range

Now: $124.24
Low: $106.27
High: $129.70


2,701,565 shs

Average Volume

2,296,741 shs

Market Capitalization

$44.74 billion

P/E Ratio


Dividend Yield




Frequently Asked Questions

What sell-side analysts currently cover shares of Paychex?

The following Wall Street research analysts have issued research reports on Paychex in the last year: Argus, Bank of America Co., Barclays PLC, Citigroup Inc., Evercore ISI, JPMorgan Chase & Co., Morgan Stanley, Robert W. Baird, Royal Bank of Canada, Stifel Nicolaus, StockNews.com, TD Cowen, UBS Group AG, and Wedbush.
View the latest analyst ratings for PAYX.

What is the current price target for Paychex?

13 Wall Street analysts have set twelve-month price targets for Paychex in the last year. Their average twelve-month price target is $122.46, suggesting a possible downside of 1.4%. Stifel Nicolaus has the highest price target set, predicting PAYX will reach $130.00 in the next twelve months. Bank of America Co. has the lowest price target set, forecasting a price of $113.00 for Paychex in the next year.
View the latest price targets for PAYX.

What is the current consensus analyst rating for Paychex?

Paychex currently has 2 sell ratings and 10 hold ratings from Wall Street analysts. The stock has a consensus analyst rating of "Reduce."
View the latest ratings for PAYX.

What other companies compete with Paychex?

How do I contact Paychex's investor relations team?

Paychex's physical mailing address is 911 PANORAMA TRAIL SOUTH, ROCHESTER NY, 14625. The business services provider's listed phone number is (585) 385-6666 and its investor relations email address is [email protected]. The official website for Paychex is www.paychex.com. Learn More about contacing Paychex investor relations.