In a report released today, Bryan Bergin from TD Cowen maintained a Hold rating on Automatic Data Processing (ADP – Research Report), with a price target of $302.00.
Bryan Bergin has given his Hold rating due to a combination of factors including adjustments in revenue estimates and expectations around financial metrics. The revenue projections for certain segments like float and PEO have been reduced, although this is somewhat balanced by anticipated growth in other areas such as ES excluding float.
Additionally, the future earnings per share estimates have been adjusted upwards, reflecting an assumption of improved cost efficiency. The price target has been set at $302, which is based on a projected price-to-earnings ratio for the year 2026. These considerations collectively contribute to the Hold rating for Automatic Data Processing’s stock.
According to TipRanks, Bergin is a 4-star analyst with an average return of 4.1% and a 49.69% success rate. Bergin covers the Technology sector, focusing on stocks such as Cognizant, Block, and Adyen.