Paychex price target lowered to $110 from $118 at Jefferies

Jefferies lowered the firm’s price target on Paychex (PAYX) to $110 from $118 and keeps a Hold rating on the shares. Q2 results met expectations and management’s commentary was “mixed,” the analyst tells investors. Management now expects FY26 revenue growth closer to the low end of the guidance range, while the EPS growth outlook was raised, adds the analyst, who does not see the results “pushing shares higher.”