Paychex Earnings Are Imminent; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call

Paychex, Inc.. PAYX is expected to release earnings results for the fiscal 2024 third quarter ended Feb. 29, 2024, before the opening bell on April 2, 2024.

Analysts expect the Rochester, New York-based company to report quarterly earnings at $1.37 per share, up from $1.29 per share in the year-ago period. Paychex is projected to report quarterly revenue of $1.46 billion, according to data from Benzinga Pro.

On March 12, Paychex named Beaumont Vance as senior vice president of data, analytics, and AI.

Paychex shares gained 1.1% to close at $122.80 on Thursday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let’s have a look at how Benzinga’s most-accurate analysts have rated the company in the recent period.

• Citigroup analyst Peter Christiansen maintained a Neutral rating and cut the price target from $130 to $125 on Dec. 26, 2023. This analyst has an accuracy rate of 71%.
• Stifel analyst David Grossman maintained a Hold rating and boosted the price target from $124 to $130 on Dec. 22, 2023. This analyst has an accuracy rate of 68%.
• JP Morgan analyst Tien-Tsin Huang maintained an Underweight rating and cut the price target from $134 to $126 on Dec. 22, 2023. This analyst has an accuracy rate of 65%.
• Barclays analyst Ramsey El-Assal maintained an Equal-Weight rating and slashed the price target from $126 to $120 on Dec. 22, 2023. This analyst has an accuracy rate of 69%.
• TD Cowen analyst Bryan Bergin downgraded the stock from Outperform to Market Perform and lowered the price target from $132 to $123 on Dec. 22, 2023. This analyst has an accuracy rate of 61%.

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