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Morgan Stanley Remains Confident In Automatic Data Processing Following Management Meeting

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In a report published Thursday, Morgan Stanley analyst Smittipon Srethapramote reiterated an Equal-Weight rating on Automatic Data Processing (NASDAQ: ADP).

In the report, Morgan Stanley noted, “We hosted a lunch with ADP CFO Jan Siegmund and EVP of Worldwide Sales and Marketing Ed Flynn. Our key takeaways: ADP is confident that recently enhanced R&D has made its products more competitive with SaaS players; and the ACA is providing tailwinds with clients big and small.”

Automatic Data Processing closed on Wednesday at $78.83.

Latest Ratings for ADP

Feb 2016UBSUpgradesNeutralBuy
Dec 2015Sterne Agee CRTInitiates Coverage onNeutral
Nov 2015Argus ResearchMaintainsBuy

View More Analyst Ratings for ADP
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