Paychex shares rise premarket after Citi cites accelerating organic revenue growth ending a four-year slowdown.
Paychex (PAYX) shares climbed 2.3% in premarket trading after Citi upgraded the stock to Buy from Neutral. The upgrade follows expectations of a turnaround in organic revenue growth, reversing a four-year decline.
Recent bookings growth has strengthened, supporting the outlook for improved performance. Analysts noted the shift as a key catalyst for the stock’s upward momentum.
The premarket gain reflects investor optimism about Paychex’s revenue trajectory and broader market positioning.