- While the company has one of the highest customer loyalty scores among competitors, we forecasted its average client growth of only 2.8% through 2026.
- Moreover, we expect the company’s revenue per client growth to normalize with an average growth rate of -1% given the nonrecurring nature of its ERTC revenue.
- Overall, we believe the company could lose market share to stronger competitors with a competitive advantage and forecasted its average revenue growth of only 4.1% for its Management Solutions segment.
For further details see:
Paychex: Tough Times In The Competitive HCM Software Market