Paychex Analysts Slash Their Forecasts Following Q2 Earnings - Paychex (NASDAQ:PAYX)

Group 1 - Paychex, Inc. reported an 18% year-over-year increase in total revenue to $1.557 billion for its fiscal second quarter [1] - Adjusted diluted earnings per share (EPS) were $1.26, up from $1.14 a year earlier, while GAAP diluted EPS were $1.10, slightly lower than the previous year's $1.14 [1] - The company raised its fiscal 2026 adjusted EPS growth outlook to 10%-11%, with guidance now ranging from $5.48 to $5.53 per share [2] Group 2 - CEO John Gibson highlighted significant progress on strategic priorities and attributed improved efficiency and client value to AI-driven productivity [2] - Paychex shares rose 2.1% to trade at $114.66 following the earnings announcement [2] - Analysts made changes to their price targets for Paychex after the earnings announcement, with Morgan Stanley lowering the target from $133 to $123, JP Morgan from $140 to $125, and Citigroup from $139 to $120 [4]