TD Cowen cuts Paychex stock target to USD 105.00
Published on 10/24/2026 at 20:13 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSTD Cowen target revision
- TD Cowen cut its Paychex target from USD 117.00 to USD 105.00 on September 25, 2026.
- First-quarter fiscal 2027 revenue rose 5.9 percent to USD 1.63 billion.
- Paychex stock closed at USD 118.04 on Nasdaq on October 23, 2026, down 0.65 percent from USD 118.81.
- October 26, 2026 is the next ex-dividend date.
Paychex Inc. (ISIN US7043261079) stock faces a lower analyst target after TD Cowen reduced its objective from USD 117.00 to USD 105.00 on September 25, 2026, while keeping a Hold rating, as MarketBeat reported. Paychex stock closed at USD 118.04 on Nasdaq on October 23, 2026 at 4:00 p.m. ET, down 0.65 percent from USD 118.81.
USD 1.63 billion first-quarter revenue
The latest operating report showed total revenue of USD 1.63 billion for the three months ended August 31, 2026, up 5.9 percent from USD 1.54 billion a year earlier. The filing also reported GAAP diluted earnings per share of USD 1.21, compared with USD 1.06 in the prior-year quarter, according to Last10K.com.
Paychex valuation and price position
Paychex had a market capitalization of USD 42.0 billion and an earnings multiple of 23.42 on October 23, 2026. Its USD 85.45 to USD 127.98 52-week range placed the closing price USD 9.94 below the high, a 7.76 percent gap, while the stock's 2026 performance was plus 5.22 percent.
October 26 ex-dividend date
The next scheduled date is October 26, 2026, when Paychex stock is set to trade ex-dividend for the declared USD 1.19 quarterly payment, as MarketBeat reported. The next earnings date is December 18, 2026, according to Gekko.
Comparison with peers
Paychex: down 0.65 percent, earnings multiple 23.42, market capitalization USD 42.0 billion
Automatic Data Processing (Nasdaq, USD): down 1.23 percent, earnings multiple 27.78, market capitalization USD 120.5 billion
Robert Half (NYSE, USD): up 21.74 percent, earnings multiple 37.91, market capitalization USD 4.7 billion
Target cut keeps valuation in view
TD Cowen's USD 105.00 target sits 11.04 percent below the October 23 Nasdaq close, making the analyst revision a direct valuation reference for the stock. The latest quarterly figures show that revenue growth and the PEO and Insurance Solutions business remain the main operating measures alongside the target discussion.
Paychex market data
- Company: Paychex, Inc.
- ISIN: US7043261079
- Ticker: PAYX
- Primary exchange: Nasdaq
- Price Nasdaq (as of October 23, 2026, 4:00 p.m. ET): USD 118.04
- Change versus prior Nasdaq close: minus 0.65 percent
- Market capitalization: USD 42.0 billion (as of October 23, 2026)
- 52-week range: USD 85.45-127.98 (as of October 23, 2026)
- Sector / Industry: Industrials / Staffing and Employment Services
- Next earnings date: December 18, 2026
Market context: Market report Nasdaq Composite.
