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ADP

ADP

$164.35

-4.15 (-2.46%)

06:22
09/11/19
09/11
06:22
09/11/19
06:22

ADP downgraded to Neutral from Buy at BofA/Merrill

BofA/Merrill analyst Jason Kupferberg downgraded ADP to Neutral from Buy with an unchanged price target of $175. After outperforming the S&P 500 Index by 35% over the past 18 months, driven by strong execution against margin expansion targets, the positive fundamental aspects of the story largely priced in, Kupferberg tells investors in a research note. Further, the analyst does not expect as much expansion in fiscal 2020 and 2021 compared to fiscal 2019.

ADP ADP
$164.35

-4.15 (-2.46%)

07/11/19
07/11/19
DOWNGRADE
Target $83

Underperform
ManpowerGroup downgraded to Underperform at Credit Suisse
As previously reported, Credit Suisse analyst Kevin McVeigh downgraded ManpowerGroup to Underperform from Neutral and lowered his price target on the shares to $83 from $88. The analyst notes that valuation has expanded about 4 times, but European macro has deteriorated amid a continued ManpowerGroup rally and underwhelming results from European temp/perm placement companies Robert Walters/Page Group. Further, McVeigh recommends investors use the recent "Powell put" rally to monetize the ManpowerGroup stock and use proceeds to rotate into ADP (ADP).
07/31/19
JEFF
07/31/19
NO CHANGE
Target $176
JEFF
Hold
ADP price target raised to $176 from $167 at Jefferies
Jefferies analyst Samad Samana raised his price target on ADP to $176, saying its Q3 revenues came in line with expectations but margins beat consensus. The analyst adds that the top line benefited from sales related to the acquisition of a client list by the company and bookings were also strong. Samana keeps his Hold rating on ADP.
08/15/19
MSCO
08/15/19
DOWNGRADE
Target $74
MSCO
Underweight
Paychex cut to Underweight at Morgan Stanley on SMID business weakening
Morgan Stanley analyst Steven Wald downgraded Paychex (PAYX) to Underweight from Equal Weight and lowered his price target for the shares to $74 from $77 as he assumed lead coverage of the stock and ADP (ADP). Small-to-mid-sized business employment is weakening and Paychex's revenue is 94% correlated to small business employment, explained Wald. Additionally, Paychex shares remain expensive compared to its Payments peers based on his EPS, revenue and margin estimates, the analyst said. Wald maintained an Equal Weight rating on ADP upon assuming coverage, setting a $174 price target on the stock, up from the firm's prior $150 target. At current levels, the market is sufficiently balancing ADP's relatively defensive market position from serving a wider array of clients than Paychex against the cyclical risks to growth if employment conditions broadly worsen, said Wald.
09/11/19
COWN
09/11/19
INITIATION
Target $195
COWN
Outperform
ADP initiated with an Outperform at Cowen
Cowen analyst Bryan Bergin initiated ADP with Target $195, saying the "scale & sustainability" of its transformation are not fully valued. The analyst cites the "secular" growth in the human capital management industry, along with the company's continued margin expansion and material flexibility creating "multiple paths" for stock price upside. Bergin adds that ADP's product advancements should allow the company to "re-establish" its technology leadership.

TODAY'S FREE FLY STORIES

GLW

Corning

$30.04

-0.12 (-0.40%)

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WE

We Company

$0.00

(0.00%)

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Breaking Periodicals news story on We Company »

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GM

General Motors

$37.21

-1.62 (-4.17%)

18:02
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Auto workers strike could cost GM $100M daily, WSJ says »

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HLNE

Hamilton Lane

$59.95

-0.51 (-0.84%)

17:57
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Hamilton Lane vice chairman sells 150K shares of common stock »

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17:52
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Conference/Events
SVB Leerink biotech analysts to hold analyst/industry conference call »

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HLNE

Hamilton Lane

$59.95

-0.51 (-0.84%)

17:52
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Hamilton Lane chairman sells 78.5K shares of common »

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GD

General Dynamics

$190.91

0.98 (0.52%)

, BAH

Booz Allen

$70.35

0.85 (1.22%)

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General Dynamics, Booz Allen and Parsons awarded $427M max Air Force contract »

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GD

General Dynamics

$190.91

0.98 (0.52%)

BAH

Booz Allen

$70.35

0.85 (1.22%)

PSN

Parsons

$37.25

0.35 (0.95%)

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  • 27

    Oct

T

AT&T

$37.32

-0.58 (-1.53%)

17:43
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09/16
17:43
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17:43
Periodicals
Suit claims AT&T told employees to make fake DirecTV accounts, Bloomberg says »

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  • 23

    Oct

UBER

Uber

$34.42

1.18 (3.55%)

, LYFT

Lyft

$47.78

1.68 (3.64%)

17:39
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Periodicals
Uber to limit drivers' app access in NYC to comply with rules, Reuters says »

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UBER

Uber

$34.42

1.18 (3.55%)

LYFT

Lyft

$47.78

1.68 (3.64%)

03/08/13
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NEE

NextEra Energy

$218.31

-0.19 (-0.09%)

17:36
09/16/19
09/16
17:36
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17:36
Conference/Events
NextEra Energy management to meet with UBS »

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  • 18

    Sep

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  • 10

    Nov

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    Nov

NJR

New Jersey Resources

$44.80

-0.36 (-0.80%)

17:34
09/16/19
09/16
17:34
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17:34
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New Jersey Resources formally appoints Steve Westhoven CEO »

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MEGEF

MEG Energy

$0.00

(0.00%)

17:34
09/16/19
09/16
17:34
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17:34
Conference/Events
MEG Energy management to meet with UBS »

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  • 18

    Sep

KMI

Kinder Morgan

$20.67

0.2 (0.98%)

17:33
09/16/19
09/16
17:33
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17:33
Conference/Events
Kinder Morgan management to meet with UBS »

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  • 18

    Sep

DOW

Dow Inc.

$48.98

0.79 (1.64%)

17:31
09/16/19
09/16
17:31
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17:31
Conference/Events
Dow Inc. management to meet with UBS »

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  • 18

    Sep

  • 23

    Sep

  • 24

    Oct

17:28
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Conference/Events
UBS healthcare analyst to hold an analyst/industry conference call »

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SPX

S&P 500

$0.00

(0.00%)

, SPY

SPDR S&P 500 ETF Trust

$300.20

-0.87 (-0.29%)

17:27
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Periodicals
Trump tax returns subpoenaed by Manhattan D.A. in late-August, NYT says »

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SPX

S&P 500

$0.00

(0.00%)

SPY

SPDR S&P 500 ETF Trust

$300.20

-0.87 (-0.29%)

SMH

Market Vectors Semiconductor

$121.04

-0.86 (-0.71%)

DIA

Diamonds Fund ETF

$271.24

-1.39 (-0.51%)

QQQ

Invesco QQQ Trust

$191.65

-0.94 (-0.49%)

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SLCA

U.S. Silica

$12.57

1.685 (15.48%)

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U.S. Silica's SandBox unit to appeal U.S. Patent Office decision »

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  • 13

    Nov

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Conference/Events
Morgan Stanley steel analyst to hold an analyst/industry conference call »

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TACO

Del Taco

$11.10

-0.12 (-1.07%)

17:16
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Del Taco names Chad Gretzema as new COO »

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  • 23

    Sep

  • 04

    Nov

EHC

Encompass Health

$64.68

0.905 (1.42%)

17:10
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Initiation
Encompass Health initiated  »

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  • 16

    Sep

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AMCR

Amcor

$9.68

-0.53 (-5.19%)

17:10
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Hot Stocks
Amcor's Stephan sells nearly 70,000 ordinary shares »

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BA

Boeing

$378.87

-1 (-0.26%)

17:10
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Periodicals
Panel set to criticize FAA's approval process for Boeing 737 MAX jets, WSJ says »

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  • 02

    Oct

VFF

Village Farms

$10.89

-0.81 (-6.92%)

17:05
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Village Farms joint venture begins shipping to Ontario, launches this month »

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CKH

Seacor

$49.74

-0.46 (-0.92%)

17:04
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Seacor announces major rebranding of subsidiaries »

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STXS

Stereotaxis

$4.22

0.58 (15.93%)

17:02
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Stereotaxis appoints Kimberly Peery CFO »

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