J.P. Morgan Reports Solif F2Q11 Results for Paychex And Automatic Data Processing

In a report published by J.P. Morgan, Automatic Data Processing ADP and Paychex, Inc. PAYX both saw solid F2Q11 results, with headline numbers ahead of expectations and continued improvement in key payroll metrics. J.P. Morgan reported that, “PAYX increased guidance for FY11 on a strong 1H11 after an initially weak forecast in F4Q, while ADP skewed guidance to the high end of the previously raised (in prior qtr.) range.” Automatic Data Processing closed yesterday at $49.39. Paychex closed yesterday at $32.86.