TD Cowen Reduces PT on Paychex, Inc (PAYX), Keeps a Hold

Paychex, Inc. (NASDAQ:PAYX) is one of the Top Large Cap Stocks to Buy At 52-Week Low. On September 5, TD Cowen analyst Bryan Bergin reduced the price target on Paychex, Inc. (NASDAQ:PAYX) from $149 to $140, while keeping a Hold rating on the stock.

The analyst noted that he expects the company’s first-quarter results to slightly beat market estimates. However, he remains cautious as there are no clear drivers for strong growth early in fiscal 2026. Moreover, the stock has underperformed recently. Bergin attributes this weakness to the concerns linked with the labor market and doubts about Paychex, Inc.’s (NASDAQ:PAYX) organic growth guidance.

The company’s organic growth target of around 5% is seen as tough to achieve compared to last year’s exit rate. The analyst noted that although Paychex, Inc. (NASDAQ:PAYX) is working to manage pricing pressures, he believes the stock needs stronger organic growth in Q1 to move higher.

Paychex, Inc. (NASDAQ:PAYX) provides human capital management solutions for small to medium-sized businesses.

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Disclosure: None. This article is originally published at Insider Monkey.