Reported about 10 hours ago
UBS has reaffirmed a 'Neutral' rating on Automatic Data Processing (ADP), lowering the price target from $323 to $315 following updates from the company’s investor day. ADP adjusted its revenue growth expectations to 6-7% and earnings per share growth to 9-11%, reflecting a decrease from previous forecasts. Despite ADP's strong market share in human capital management, UBS is cautious about its long-term growth due to technology investment impacts on margins.
Source: YAHOO