ADP (ADP) PT Lowered to $290 at Stifel

Stifel analyst David Grossman lowered the price target on ADP (NASDAQ: ADP) to $290.00 (from $318.00) while maintaining a Hold rating.

The analyst commented, "F1Q25 (Sept) BMO: revenue/EPS beat with higher revenue (+6% cc) driving margin/EPS outperformance (+7% y/y).FY26 (Jun) guidance reiterated: +5-6% revenue growth/ +8-10% EPS growth (margins +50-70bp). All-important bookings guide (+4-7%) reiteratedStock traded-down 6-7% today, taking other HCM names down 5-7%. We can identify three potential factors Management lowered pays-per-control guide from +0-1% to flattish, which has an immaterial impact on revenue growth (we estimate."

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