2018-09-25 12:44:52 | ADP, Paychex slip after Square introduces new payroll appShares of traditional payroll services providers ADP (ADP) and Paychex (PAYX) are moving lower in afternoon trading after Square (SQ) stated that it is introducing the Square Payroll App. The app "empowers sellers with fast access to an elegant and self-serve tool for running their business," making it "easy for employers to manage payroll, one of the most important yet complicated aspects of running a business, from anywhere," according to Square's launch announcement. PRICE ACTION: In afternoon trading following Square's announcement, ADP shares are down 1% to $147.50 while Paychex is down 1.6% to $73.35 per share. | |
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