87/100BPaychex stock forecast 2027–2031What is an analyst price target? A price target is the price an analyst expects a stock to reach in 12 months. Arincen shows the average, high and low targets and the upside to the average.
Analysts' average 12-month price target for Paychex is 111.71, 4.5% below the current price of 117.03. Their targets range from 107.00 to 120.00.
Of the 13 firms that rated Paychex in the past 12 months, 1 rate it buy or strong buy, 10 hold and 2 sell or strong sell (each firm at its latest rating): a Hold consensus.
Analysts' 1-year price targets range from 107.00 to 120.00, with an average of 111.71.
| Buy | 1 | |
| Hold | 10 | |
| Sell | 2 |
12-month price target
| Highest target | 120.00 |
| Average target | 111.71 |
| Lowest target | 107.00 |
| Current price | 117.03 |
Paychex price target historyWhat is an analyst price target? A price target is the price an analyst expects a stock to reach in 12 months. Arincen shows the average, high and low targets and the upside to the average.
Have analysts recently raised or lowered their Paychex price target and rating?
How analysts rate Paychex, month by monthWhat is the analyst rating? The analyst rating sums up what the analysts covering a stock recommend, from strong buy to strong sell, by the share of them rating it a buy.
1 of 13 firms rate it buy now, against 0 of 11 in December 2025.
Each month: every firm at its latest rating from the 12 months before. Strong buys count as buys, strong sells as sells.
Paychex analyst upgrades, downgrades and price targets
The latest rating change came on 24 September 2026, when JP Morgan upgraded Paychex from Underweight to Neutral. The most recent new target came from UBS on 29 October 2026: 120.00.
| Date | Firm | Rating | Price target | Change | Price then |
|---|---|---|---|---|---|
| 29 Oct 2026 | UBS Kevin McVeigh | — | 115.00 → 120.00 | +4.3% | 108.49 |
| 28 Sept 2026 | Robert W. Baird Mark Marcon | — | 110.00 | — | 101.37 |
| 24 Sept 2026 | Stifel Nicolaus | Reiterated · Hold | 110.00 → 112.00 | +1.8% | 104.49 |
| 24 Sept 2026 | BMO Capital Daniel Jester | Reiterated · Market Perform | 103.00 → 113.00 | +9.7% | 104.49 |
| 24 Sept 2026 | JP Morgan | Upgraded · Underweight → Neutral | — | — | — |
| 16 Sept 2026 | Wolfe Research | Upgraded · Underperform → Peer Perform | — | — | — |
| 9 Sept 2026 | Wells Fargo Jason Kupferberg | Reiterated · Underweight | 116.00 → 111.00 | -4.3% | 116.93 |
| 22 Jul 2026 | UBS Kevin McVeigh | Reiterated · Neutral | 98.00 → 115.00 | +17.3% | 111.96 |
| 20 Jul 2026 | Cantor Fitzgerald Ramsey El-Assal | Reiterated · Underweight | 98.00 → 107.00 | +9.2% | 112.76 |
| 30 Jun 2026 | Morgan Stanley | Reiterated · Equal Weight | 107.00 → 109.00 | +1.9% | 99.81 |
| 25 Jun 2026 | UBS | Reiterated · Neutral | 140.00 → 98.00 | -30.0% | 98.84 |
| 17 Jun 2026 | Stifel Nicolaus | Reiterated · Hold | 126.00 → 110.00 | -12.7% | 100.28 |
| 15 Jun 2026 | Citigroup | Upgraded · Neutral → Buy | — | — | — |
| 27 Mar 2026 | Morgan Stanley James Faucette | — | 123.00 → 107.00 | -13.0% | 91.68 |
| 13 Mar 2026 | BMO Capital Daniel Jester | Reiterated · Market Perform | 121.00 → 103.00 | -14.9% | 92.00 |
| 26 Jan 2026 | Cantor Fitzgerald Ramsey El-Assal | — | 98.00 | — | 106.19 |
| 22 Dec 2025 | Morgan Stanley | Reiterated · Equal Weight | 132.00 → 123.00 | -6.8% | 112.28 |
| 19 Dec 2025 | Jefferies | — | 118.00 → 110.00 | -6.8% | 112.28 |
| 17 Dec 2025 | Stifel Nicolaus David Grossman | Reiterated · Hold | 156.00 → 126.00 | -19.2% | 115.22 |
| 9 Dec 2025 | BMO Capital | Reiterated · Market Perform | 140.00 → 121.00 | -13.6% | 112.45 |
| 9 Dec 2025 | Wells Fargo | Reiterated · Underweight | 128.00 → 116.00 | -9.4% | 112.45 |
| 7 Dec 2025 | Jefferies | — | 130.00 → 118.00 | -9.2% | 112.06 |
| 5 Dec 2025 | RBC Capital Ashish Sabadra | — | 165.00 → 125.00 | -24.2% | 113.31 |
Paychex EPS and revenue estimatesWhat are estimate revisions? Estimate revisions are the changes analysts make to their EPS and revenue forecasts for the years ahead. They show whether expectations are rising or falling.
Analysts expect Paychex's EPS to grow 12.0% a year until 2029. Over the last 5 years it grew 10.0% a year, and over the last 3 years 4.4%.
Analysts expect Paychex's revenue to grow 5.3% a year until 2029, slower than over the last 5 years (9.9% a year) and the last 3 years (9.2%).
Revenue
EPS
Does Paychex beat earnings estimates?What is an earnings surprise? An earnings surprise is how far a company's reported EPS or revenue came above or below the analysts' average estimate, in percent.
On average, analysts' EPS estimate was 1.3% off the result, either way, and their revenue estimate 1.6%, over the last 12 quarters.
- EPS beats
- 69 / 134
- Revenue beats
- 79 / 120
- Average EPS surprise, last 12What is an earnings surprise? An earnings surprise is how far a company's reported EPS or revenue came above or below the analysts' average estimate, in percent.
- +1.3%
- Since
- July 1993
| Quarter | Report date | EPS estimate | Reported EPS | Surprise | Revenue estimate | Reported revenue | Surprise |
|---|---|---|---|---|---|---|---|
| Q1 FY2027 | 23 Sept 2026 | 1.32 | 1.34 | +1.5% | 1.63B | 1.63B | +0.2% |
| Q4 FY2026 | 24 Jun 2026 | 1.31 | 1.32 | +0.8% | 1.60B | 1.61B | +0.3% |
| Q3 FY2026 | 25 Mar 2026 | 1.67 | 1.71 | +2.4% | 1.78B | 1.81B | +1.5% |
| Q2 FY2026 | 19 Dec 2025 | 1.23 | 1.26 | +2.4% | 1.55B | 1.56B | +0.3% |
| Q1 FY2026 | 30 Sept 2025 | 1.20 | 1.22 | +1.7% | 1.54B | 1.54B | +0.1% |
| Q4 FY2025 | 25 Jun 2025 | 1.19 | 1.19 | 0.0% | 1.44B | 1.43B | -1.1% |
| Q3 FY2025 | 26 Mar 2025 | 1.48 | 1.49 | +0.7% | 1.51B | 1.51B | +0.0% |
| Q2 FY2025 | 19 Dec 2024 | 1.13 | 1.14 | +0.9% | 1.31B | 1.32B | +0.3% |
| Q1 FY2025 | 1 Oct 2024 | 1.14 | 1.16 | +1.8% | 1.31B | 1.32B | +0.3% |
| Q4 FY2024 | 26 Jun 2024 | 1.10 | 1.12 | +1.8% | 1.29B | 1.30B | +0.1% |
| Q3 FY2024 | 2 Apr 2024 | 1.37 | 1.38 | +0.7% | 1.46B | 1.44B | -1.3% |
| Q2 FY2024 | 21 Dec 2023 | 1.07 | 1.08 | +0.9% | 1.46B | 1.26B | -13.9% |
Paychex stock price 2027–2031: scenariosHow are the stock price scenarios calculated? Bear, base and bull prices for the years ahead: the analysts' EPS estimates times the lowest, average and highest P/E of the stock today and at its last five year ends, or of its peers.
If Paychex's earnings keep growing at the 7.6% a year analysts expect to FY2029, it would earn about 7.96 a share in FY2031. At the P/E it has traded at over the last five years (20.9 to 34.3) that is 166.36 to 273.17 a share, or 212.73 at its average P/E of 26.7. This is arithmetic on the analysts' estimates, not a prediction.
| Fiscal year | EPS | Bear | Base | Bull |
|---|---|---|---|---|
| FY2027 | 5.96 | 124.62 | 159.35 | 204.63 |
| FY2028 | 6.41 | 134.01 | 171.37 | 220.05 |
| FY2029 | 6.87 | 143.62 | 183.65 | 235.82 |
| FY2030 (extrapolated) | 7.39 | 154.57 | 197.66 | 253.81 |
| FY2031 (extrapolated) | 7.96 | 166.36 | 212.73 | 273.17 |
Each year's EPS is the analysts' consensus to FY2029; the years after grow 7.6% a year (the analysts' growth, at most 15%). Bear, base and bull apply the lowest, average and highest P/E of today and the last five fiscal year ends, leaving out any above 60, the mark of a year of collapsed earnings (20.9, 26.7, 34.3).
Is Paychex stock undervalued or overvalued?How does Arincen work out a stock's fair value? Fair value is our estimate of a share's price at the P/E the company usually trades at, with a low to high range around it.
Paychex's P/E of 23.2 is near the bottom of its 5-year range (23.2 to 38.7, median 27.9). It is within 5% of its 5-year low. Analysts do not expect slower growth than in recent years, so it is cheaper than its usual level. Buyers pay less for each point of growth than usual: a PEG of 1.9 on expected growth against 2.8 on its median P/E and past five years' growth. At its usual P/E (27.9 × EPS of 5.05), Paychex's fair value is 141.10; the price, 117.03, is 17.1% below it. Its forward P/E, on the consensus for FY2027, is 19.6.
Fair value is the usual (median) P/E of the last five years times the earnings per share of the last twelve months; the ends of the bar are the same earnings at its lowest and highest P/E of those years (23.2 and 38.7). The price against its P/E range
- Price to earnings ratio (TTM)What is the P/E ratio? The P/E ratio divides a share's price by its earnings per share over the last year: what you pay for each dollar of profit.
- 23.17
- Five-year median P/EWhat is the P/E ratio? The P/E ratio divides a share's price by its earnings per share over the last year: what you pay for each dollar of profit.
- 27.94
- Five-year P/E range
- 23.2 – 38.7
- Forward P/E (FY2027)What is the forward P/E ratio? Forward P/E divides a share's price by the earnings per share analysts expect in the coming year, rather than last year's actual earnings.
- 19.63
- PEG ratioWhat is the PEG ratio? The PEG ratio divides the P/E by the yearly earnings growth analysts expect, to show how much you pay for each point of growth.
- 3.04
- To the average targetWhat is an analyst price target? A price target is the price an analyst expects a stock to reach in 12 months. Arincen shows the average, high and low targets and the upside to the average.
- -4.5%
Most undervalued US stocksHow does Arincen work out a stock's fair value? Fair value is our estimate of a share's price at the P/E the company usually trades at, with a low to high range around it.
| Stock | Price | Fair value | Upside |
|---|---|---|---|
| 99.090 | 194.93146Price 99.09244 | +96.7% | |
| 42.225 | 82.9546Price 42.23165 | +96.4% | |
| 186.680 | 360.82271Price 186.68451 | +93.3% | |
| 213.670 | 405.57304Price 213.67507 | +89.8% | |
| 161.160 | 305.51157Price 161.16396 | +89.6% | |
| 160.650 | 300.09225Price 160.65375 | +86.8% | |
| 165.860 | 308.95212Price 165.86442 | +86.3% |
Furthest below the fair value on each stock's page, updated every day.