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Fly News Breaks for April 21, 2015
ADP, PAYX
Apr 21, 2015 | 07:31 EDT
JPMorgan upgraded Paychex (PAYX) to Neutral saying increasing human resources regulation lessens the completive threat from SaaS payroll. Further, the firm believes Paychex will benefit from a rising rate environment and notes shares trade at a discount to peer ADP (ADP). JPMorgan raised its price target for the stock to $48 from $43.
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