Paychex: If Shares Keep Falling, An Upgrade Could Be In Store

2026-03-06 10:51:17 ET

In early October of last year, I came very close to upgrading Paychex ( PAYX ) from a "Hold" to a "Buy." This was based on strong financial performance, driven in part by the company's successful integration of Paycor HCM, which is a player in the workforce management solutions space that Paychex acquired in a deal valued at $4.1 billion. Thanks in large part to that purchase, revenue, profits, and cash flows were all growing nicely. And the expectation was that 2026 would be a great year for the firm. The stock was also becoming cheaper than it had been in the past. But it wasn't cheap enough, in my view, to justify a bullish outlook....

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