Analyst Bryan Bergin from TD Cowen maintained a Hold rating on Automatic Data Processing and decreased the price target to $263.00 from $294.00.
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Bryan Bergin’s rating is based on a combination of factors, including the recent earnings update for the first quarter of 2026. While there is an increase in the revenue estimate for the fiscal year 2026, primarily due to improved float revenue, the projections for subsequent years have been adjusted downward for both the Employer Services (ES) and Professional Employer Organization (PEO) segments.
This adjustment leads to a slight increase in the earnings per share (EPS) estimate for 2026, but the EPS estimates for the following years are modestly reduced. Consequently, the price target is set at $263, reflecting a cautious outlook on the stock’s future performance. These factors collectively contribute to the Hold rating, indicating that the stock is expected to perform in line with the market in the near term.
In another report released today, Stifel Nicolaus also maintained a Hold rating on the stock with a $290.00 price target.