Over the past 3 months, 9 analysts have published their opinion on Paychex PAYX stock. These analysts are typically employed by large Wall Street banks and tasked with understanding a company's business to predict how a stock will trade over the upcoming year.

These 9 analysts have an average price target of $123.67 versus the current price of Paychex at $121.46, implying upside.

Below is a summary of how these 9 analysts rated Paychex over the past 3 months. The greater the number of bullish ratings, the more positive analysts are on the stock and the greater the number of bearish ratings, the more negative analysts are on the stock

This average price target has increased by 1.16% over the past month.

Stay up to date on Paychex analyst ratings.

How Are Analyst Ratings Determined?

Ratings come from analysts, or specialists within banking and financial systems that report for specific stocks or defined sectors (typically once per quarter for each stock). Analysts usually derive their information from company conference calls and meetings, financial statements, and conversations with important insiders to reach their decisions.

Some analysts also offer predictions for helpful metrics such as earnings, revenue, and growth estimates to provide further guidance as to what to do with certain tickers. It is important to keep in mind that while stock and sector analysts are specialists, they are also human and can only forecast their beliefs to traders.

This article was generated by Benzinga's automated content engine and reviewed by an editor.