Jefferies Reiterates Paychex, Automatic Data Processing Holds - Automatic Data Processing (NASDAQ:ADP), M

Jefferies reiterated its Paychex (NASDAQ:

) and Automatic Data Processing (NASDAQ:

) Hold ratings in a research report published today on the heels of ADP's National Employment Report ('NER') released Thursday morning. In the report, Jefferies stated, "We continue to have concerns regarding the growth profile of both companies relative to pre-recession levels, but these names could perform reasonably well in a more "defensive" market, supported by ample dividend yields." Jefferies stated in the report that both companies, at current valuations, are not as viable as competitor companies such as MasterCard (NYSE:

) and Visa (NYSE:

). Shares of Paychex were trading at $31.44 at the time of posting, up 0.13% on the session. Shares of Automatic Data Processing were up 0.61% at the time of posting, trading at $56.34.

ADPAutomatic Data Processing Inc

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