RBC Capital lowered the firm’s price target on Paychex (PAYX) to $102 from $125 and keeps a Sector Perform rating on the shares ahead of its Q3 results. The firm expects Paychex to beat conservative Q3 guidance given the tailwinds from Paycor form-filling revenues and seasonally higher client funds, partially offset by lower attach rates and higher discounting in the ASO -Administrative Services Organization – business, the analyst tells investors in a research note.
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Read More on PAYX:
- Paychex initiated with a Neutral at Guggenheim
- Paychex price target lowered to $103 from $121 at BMO Capital
- Balanced Risk-Reward Keeps Paychex at Hold Amid Labor and AI Overhangs
- Cantor starts Paychex at Underweight, says Paycor move largely defensive
- Paychex initiated with an Underweight at Cantor Fitzgerald