JP Morgan Rates Paychex (PAYX) sell, $105 Price Target

JP Morgan maintains a sell rating on Paychex with a $105 price target, a 5.11% upside from the current price.

By TradeTexts Research Desk · Published Jun 25, 2026, 11:01 AM EDT · Updated Jun 29, 2026, 12:02 PM EDT

Reviewed by automated data checks against the source data. How we make and check alerts

JP Morgan rated Paychex, Inc. ($PAYX) "sell" with a $105 price target on June 25, 2026.

Since the rating, $PAYX is up 10.0% after 1 week, up 19.4% after 1 month and up 16.6% to date (from the $95.72 close on Jun 25, 2026).

PAYX Paychex, Inc.

$111.63 +6.29% year to date

Daily close · Oct 16, 2026

Key Points

JP Morgan reiterated its sell rating on Paychex, Inc. (PAYX) with a $105 price target on June 25, 2026.
JP Morgan's $105 price target implies 5.11% upside from Paychex, Inc.'s ($PAYX) current $99.90 share price.
Paychex shares were trading around $96.3 on Thursday, with a market cap of $34.37 billion and a P/E ratio of 21.18.
Major institutional investors like BlackRock and Vanguard have recently adjusted their positions in Paychex.

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On June 25, 2026, JP Morgan reiterated its sell rating on Paychex, Inc. (NasdaqGS: PAYX) with a price target of $105. Analyst Tien-Tsin Huang maintained this view as part of the firm's ongoing evaluation of the company's prospects.

Analyst rating track record

JP Morgan vs. the S&P 500

YTD return -3.56% hypothetical

All-time return +33.46% S&P 500 +35.85%

vs. S&P 500 -2.39% behind the index

Hypothetical returns from JP Morgan's disclosed trades, not real profit or advice. How we model this.

Paychex, Inc. Stock Down 9.8%

Shares of NasdaqGS:PAYX traded near $96.3 on Thursday. Paychex has a market cap of $34.37 billion and a P/E ratio of 21.18. The stock's 52-week range is between $85.45 and $152.57, with a 50-day moving average of $94.52 and a 200-day moving average of $106.73. The company's current ratio stands at 1.15, with a quick ratio of 0.30 and a debt-to-equity ratio of 124.91.

12-month forecast

$PAYX price target

Paychex, Inc. daily closes and this analyst's $105 target. Not advice.

Recent Earnings

Paychex reported revenue of $3.97 billion, showing a growth rate of 19.9%. The company's net margin was 26.63%, with an EPS of $4.53. Investors can look forward to the next earnings announcement on June 24, 2026.

Dividend

Paychex offers an annual dividend rate of $4.76, yielding 4.84%. The dividend payout ratio is 95.36%, indicating the company returns a significant portion of its earnings to shareholders.

Insider Buying and Selling at Paychex, Inc.

Recent insider activity at Paychex includes Thomas Golisano selling 109,300 shares at $91.27 on May 6, 2026, and 1,032 shares at $96.98 on June 1, 2026. Elizabeth Roaldsen, Sr. Vice President, sold 459 shares at $90.00 on May 13, 2026. On May 8, 2026, Joseph Velli bought 10,220 shares at $60.59.

Analysts Set New Price Targets

On June 25, 2026, JP Morgan maintained its sell rating with a $105 price target. Stifel also maintained a hold rating with a $110 target on June 17, 2026. Citigroup upgraded the stock to a buy with a $140 target on June 15, 2026. Overall, the consensus recommendation is to hold, with an average price target of $105.43 among 14 analyst opinions.

About Paychex, Inc.

Paychex, Inc. provides human capital management solutions, focusing on payroll, HR, and insurance services for small to medium-sized businesses. Headquartered in Rochester, New York, and led by CEO John B. Gibson Jr., the company serves clients across the United States, Europe, and India. Paychex offers a range of services including payroll processing, tax administration, and employee benefits management.

Bottom Line

JP Morgan's reiterated sell rating with a $105 target reflects its cautious stance on Paychex's stock prospects. While Paychex maintains strong revenue growth and a solid dividend yield, investors remain attentive to analyst ratings and institutional activities. As with all 13F filings and analyst reports, these assessments provide a snapshot of past evaluations and may not reflect current conditions.