Macquarie analyst Hamzah Mazari downgraded Robert Half to Underperform and cut its price target to $42 from $46 due to accelerating technology risks around disruption of the accounting and office admin staffing business. The analyst said automation is shrinking the candidate pool and the ramp in ERP spending and Cloud ERP uptake ahead of 2020/2025 deadlines will result in customers needed fewer database administrators and personal. As a result, Mazari lowered 2018/19 estimates to reflect slower growth in Accountemps and reduced operating leverage going forward.