In a report released today, Bryan Bergin from TD Cowen maintained a Hold rating on Automatic Data Processing, with a price target of $294.00.
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Bryan Bergin’s rating is based on several considerations, including adjustments to estimates that reflect current financial factors such as foreign exchange rates and federal funds rate expectations. Despite these updates, the changes to the estimates are considered immaterial, with the most significant adjustment being a reduction in float revenue.
Furthermore, the price target for Automatic Data Processing has been set at $294, which is derived from a 25.5 times projected earnings for the calendar year 2026. These factors collectively contribute to the Hold rating, indicating that while the stock is stable, there may not be significant short-term growth potential.
Bergin covers the Technology sector, focusing on stocks such as Accenture, Automatic Data Processing, and Genpact. According to TipRanks, Bergin has an average return of -0.1% and a 45.14% success rate on recommended stocks.
In another report released on September 29, RBC Capital also maintained a Hold rating on the stock with a $315.00 price target.