TD Cowen Reiterates Hold Rating on ADP (ADP)

TD Cowen analyst Bryan Bergin reiterated a Hold rating and $263.00 price target on ADP (NASDAQ: ADP).

The analyst commented," Bloomberg has reported that ADP is in talks to acquire WorkForce Software (private) for $1.2Bn. This would represent its largest deal since 2017 and would supplement what we perceive as increased emphasis on enterprise investments following recent SMB segment success. We estimate this tuck-in deal would yield at least ~50 bps of incremental FY25 growth."

For an analyst ratings summary and ratings history on ADP click here. For more ratings news on ADP click here.

Shares of ADP closed at $275.25 yesterday.

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