Paychex price target lowered to $152 from $156 at Stifel

Stifel lowered the firm’s price target on Paychex (PAYX) to $152 from $156 and keeps a Hold rating on the shares, stating that “confusion” surrounding FY26 guidance is “more impactful than any fundamental shifts.” Last year’s fiscal Q4 annual price increase was instituted earlier than historical practice, which distorts the comparisons, says the analyst, who adds that while management reported some weakening data points, they view the installed base as stable and see no signs of pending recession.