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Goldman Sachs Reiterates Buy Rating, $68 PT on Automatic Data Processing

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In a report published Friday, Goldman Sachs Group reiterated its Buy rating and $68.00 price target on Automatic Data Processing (NASDAQ: ADP).

Goldman Sachs noted, “We expect an in-line report and guide given ADP's high visibility into forward revenues. However, where we differ from the Street is on CY13 (ADP's 3QFY13 to 2QFY14) where we see potential for acceleration driven by the ramp of ADP's enterprise platform Vantage HCM and the potential for further share gains on the SMB side of their business as clients continue to adopt ADP's SaaS RUN platform. In addition, we anticipate an early read on client sentiment ahead of ADP's main selling season, which begins in January.”

Automatic Data Processing closed on Thursday at $58.23.

Latest Ratings for ADP

DateFirmActionFromTo
Dec 2016BarclaysInitiates Coverage OnOverweight
Sep 2016WedbushInitiates Coverage onNeutral
Aug 2016JefferiesMaintainsUnderperform

View More Analyst Ratings for ADP
View the Latest Analyst Ratings

Posted-In: Goldman Sachs GroupAnalyst Color Reiteration Analyst Ratings

 

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