PAYX

AI Research

Paychex Q3 FY2026 Earnings March 25 → Stock Down 33% in 1 Year, BMO Cuts PT to $103

Paychex is scheduled to report Q3 fiscal 2026 earnings on March 25, with the stock down approximately 33% over the prior year as slowing SMB employment growth and interest rate normalization compress payroll processing revenue growth, prompting BMO to cut its price target to $103. Analyst consensus holds a Hold rating with an average price target of $116.93, as the market weighs the headwinds against Paychex's durable recurring revenue model. Risks include continued SMB hiring slowdown, declining interest income from payroll float as rates normalize, and competition from ADP and Gusto in payroll services.