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

Paychex, Inc. PAYX will release earnings results for its first quarter, before the opening bell on Tuesday, Oct. 1.

Analysts expect the Rochester, New York-based company to report quarterly earnings at $1.14 per share, compared to $1.14 per share in the year-ago period. Paychex is projected to post quarterly revenue of $1.32 billion, versus $1.29 billion a year earlier, according to data from Benzinga Pro.

On June 26, the company reported sales growth of 5% year over year to $1.295 billion, in-line with the analyst consensus estimate of $1.296 billion.

Paychex shares closed at $132.99 on Friday.

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 raised the price target from $125 to $145 on Sept. 25. This analyst has an accuracy rate of 66%.
• Barclays analyst Ramsey El-Assal maintained an Equal-Weight rating and raised the price target from $118 to $132 on Sept. 23. This analyst has an accuracy rate of 68%.
• TD Cowen analyst Bryan Bergin maintained a Hold rating and boosted the price target from $121 to $126 on Sept. 12. This analyst has an accuracy rate of 61%.
• JP Morgan analyst Tien-Tsin Huang maintained an Underweight rating and raised the price target from $120 to $128 on Aug. 20. This analyst has an accuracy rate of 66%.
• Morgan Stanley analyst James Faucette maintained an Equal-Weight rating and cut the price target from $125 to $122 on June 27. This analyst has an accuracy rate of 65%.

Considering buying PAYX stock? Here’s what analysts think:

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