Paychex (PAYX) Q2 2026 earnings — TrendMatrix coverage
Reported
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results. How we score · Full disclosure
Key numbers
- Adjusted EPS
- $1.34
- Estimate
- $1.32
- Surprise
- +1.6%
- Revenue (period 2026-08-31)
- $1.58B
- Score at report (before → after)
- 6.1 → 6.0/10
Revenue source: xbrl.
How the report landed
Paychex (PAYX) beat the $1.32 estimate with adjusted EPS of $1.34 — a modest 1.6% upside surprise. TrendMatrix's engine moved from Buy (Wait) (6.1/10) to Sell at 6.0/10 after the report — the engine's score fell despite the beat.
Where TrendMatrix's rating stands now
TrendMatrix currently rates PAYX Sell at 5.6/10.
4 of the last 4 quarters beat the estimate; this quarter's +1.6% surprise compares with a +1.8% four-quarter average. Next scheduled report: 2026-12-18.
What supports the rating
- V7 quality resilience bonus: +0.2 (Q=7.9 in RISK_OFF)
- Strong earnings beat streak (4/4)
What argues against it
- Analyst target reached - limited upside remaining
- Sector modifier (Technology): -0.8
- Leverage penalty (D/E 1.2): -0.5
This section and the ones below it reflect TrendMatrix’s latest engine read — they update after the report date and are not frozen to it.
The levels TrendMatrix's engine tracks
- Current price
- $107.70
- Price target
- $114.38
- Stop
- $103.66
- Upside to target
- +6.2%
The stock trades at 21.1× trailing but 16.6× forward earnings — consensus estimates already build in a substantial earnings recovery.
Model outputs from TrendMatrix’s engine as of 2026-10-14 — shown for context, not personalized investment advice.
PAYX at TrendMatrix's latest read
Technology names get repriced on forward expectations more than trailing prints — a quarter here is read through next-year growth and multiple, not the EPS line alone.
- Industry
- Software - Application
- Market cap
- $37.82B
- P/E (fwd)
- 16.6
- P/E (ttm)
- 21.1
- 52-week range
- $85.45–$129.24
- Off 52-week high
- 16.7%
- RSI (14)
- 68
- Volume vs avg
- 0.41×
- Score today
- 5.6/10