Stifel analyst David Grossman maintains $Automatic Data Processing (ADP.US)$ with a hold rating, and adjusts the target price from $287 to $305.
According to TipRanks data, the analyst has a success rate of 56.8% and a total average return of 5.5% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Automatic Data Processing (ADP.US)$'s main analysts recently are as follows:
The first quarter was characterized by steady execution from ADP, resulting in robust bookings amid a consistent demand environment for Human Capital Management (HCM).
The company's Q1 earnings surpassed expectations, and the increased revenue guidance for FY25 is attributed to robust underlying business performance and the WorkForce Software acquisition exceeding expectations. The guidance for ADP seems attainable and suggests a low-teens total shareholder return, despite the tough macroeconomic conditions.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
TipRanks provides a ranking of each analyst up to 5 stars, which is representative of all recommendations from the analyst. An analyst's past performance is evaluated on a scale of 1 to 5 stars, with more stars indicating better performance. The star level is determined by his/her total success rate and average return.
