Jefferies Downgrades Paychex (PAYX) to Underperform; Selling ADP as Well

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Jefferies Downgrades ADP (ADP) to Underperform; We've Been Patient, But It's Time

September 12, 2012 7:10 AM EDT

Jefferies downgraded ADP (NASDAQ: ADP) from Hold to Underperform with a price target of $55.00.

Analyst, Jason Kupferberg, said, "We've been cautious for awhile on ADP / Paychex (Nasdaq: PAYX); now we think it's time to sell the... More