Morgan Stanley Remains Confident In Automatic Data Processing Following Management Meeting

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