TD Cowen analyst Bryan Bergin lowered the firm’s price target on Paychex (PAYX) to $95 from $114 and keeps a Hold rating on the shares. The firm said they delivered clean 3Q execution with organic growth acceleration, PEO strength and consistency on Paycor integration. While outperformance benefited from some 4Q pull forward, it’s tracking its 2H plan and the company blessed Street FY27 revenue estimates.
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