Citi analyst Peter Christiansen maintains $Paychex (PAYX.US)$ with a hold rating, and maintains the target price at $145.
According to TipRanks data, the analyst has a success rate of 57.3% and a total average return of 4.5% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Paychex (PAYX.US)$'s main analysts recently are as follows:
The expectation is that there may be a 'pause' in the performance of Paychex shares in light of the company's outlook for 2025 and the absence of catalysts following the fiscal Q1 report.
Investors were anticipating a modest outperformance for Paychex's fiscal Q1, yet the significant share price increase suggests there were concerns about potential worsening discount rates or bankruptcies, which currently appears unfounded. Improved confidence in the company's execution by FY25 is noted.
The company outperformed revenue expectations in Q1 based on a conservative forecast and has adjusted its Interest on Funds Held for Clients revenue outlook due to falling interest rates. Growth is anticipated to enhance in the latter half of FY25, as the impact of the Employee Retention Tax Credit diminishes and comparison metrics become more favorable.
Note:
TipRanks, an independent third party, provides analysis data from financial analysts and calculates the Average Returns and Success Rates of the analysts' recommendations. The information presented is not an investment recommendation and is intended for informational purposes only.
Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
TipRanks provides a ranking of each analyst up to 5 stars, which is representative of all recommendations from the analyst. An analyst's past performance is evaluated on a scale of 1 to 5 stars, with more stars indicating better performance. The star level is determined by his/her total success rate and average return.
