|Over a week ago|
ADP, Visa unveil flexible digital payment options to serve U.S. workforce » 07:2202/1802/18/21
As COVID-19 continues to…
As COVID-19 continues to accelerate the shift to digital, more businesses and individuals are now operating in an on-demand world, driven by flexibility, convenience and speed. Digital payments play a critical role in this movement, particularly with regards to work, as employers look for optimized ways to conduct their business and employees look to get paid quickly, conveniently and securely. Visa (V), the world's leader in digital payments, and ADP (ADP), a leading global provider of Human Capital Management, HCM, solutions, announced a partnership that will offer ADP's clients, large and small, with a digitally-enabled, convenient and cost-effective solution for off-cycle payments to employees. By offering this capability, it reduces the need for employers to worry about printing and sending checks to pay workers and employees can forgo the extra step of depositing funds into their accounts. "Now more than ever, it is critical for workers to have quick and convenient access to their wages and to get money into their hands when they need it," said Bill Sheley, Global Head of Visa Direct, Visa. "Our partnership with ADP is another important milestone in Visa's efforts to help reimagine the way workers get paid, both today and in the future." ADP's integration of Visa Direct1, Visa's real-time2 push payments platform, gives employers the ability to deliver digital payments directly to their employees via an eligible debit
ADP initiated with a Buy at Mizuho » 16:1002/1002/10/21
Mizuho analyst Dan Dolev…
Mizuho analyst Dan Dolev initiated coverage of ADP with a Buy rating and $210 price target. Dolev, who said ADP's investments in its enterprise business "may finally begin to bear fruit," notes that the firm's survey of 100+ HCM clients shows early signs of share gains in ancillary products and strong up-sell.
|Over a month ago|
ADP price target raised to $197 from $180 at Barclays » 06:3602/0102/01/21
Barclays analyst Ramsey…
Barclays analyst Ramsey El-Assal raised the firm's price target on ADP to $197 from $180 and keeps an Overweight rating on the shares.
Fly Intel: Top five analyst upgrades Spire » 09:5501/2901/29/21
BA, ADP, ADS, CTSH, SR
Catch up on today's…
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Boeing (BA) upgraded to Overweight from Underweight at Morgan Stanley with analyst Kristine Liwag saying with a lowered bar for expectations, and without any significant incremental headwinds in 2021, she now sees "a clear runway for Boeing" and calls it "a COVID-19 recovery play with upside." 2. ADP (ADP) upgraded to Buy from Neutral at Citi with analyst Peter Christiansen saying he has been impressed with ADP's "better than expected recovery" following its "clean beat and raise" quarter. 3. Alliance Data (ADS) upgraded to Equal Weight from Underweight at Wells Fargo with analyst Timothy Willi citing the stabilizing credit environment, enhanced earnings visibility into 2021 and the operational improvements that should better position the Card business over the long term for the upgrade. 4. Cognizant (CTSH) upgraded to Overweight from Equal Weight at Morgan Stanley with analyst James Faucette saying the company's accelerated pace of acquisitions - with 12 acquisitions since January 2020 - shows that it is now better positioned to adapt to evolving technology, but this has been "underappreciated by investors." 5. Spire (SR) upgraded to Overweight from Neutral at JPMorgan with analyst Richard Sunderland seeing valuation upside given "improving growth line-of-sight," a stabilizing regulatory outlook, and potential earnings upside. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
ADP upgraded to Buy from Neutral at Citi » 06:1601/2901/29/21
Citi analyst Peter…
Citi analyst Peter Christiansen upgraded ADP to Buy from Neutral with a price target of $190, up from $180. The analyst has been impressed with ADP's "better than expected recovery" following its "clean beat and raise" quarter. The is stock trading at a below-average premium to the market amidst a positive revision cycle, Christiansen tells investors in a research note.
ADP expands Next Gen Payroll Platform to Canada, Mexico » 07:5301/2801/28/21
ADP is expanding its…
ADP is expanding its leading Next Gen Payroll Platform across North America to Canada and Mexico to help transform the payroll experience for both practitioners and employees in those markets. With this move, more companies of all types, from local small businesses to global conglomerates, will be able to revolutionize the way they pay employees. ADP is pleased to announce Next Gen Payroll is now live with its first client in Mexico, joining hundreds of other clients throughout the U.S. and Canada. Built natively on the public cloud, the Platform gives practitioners and employees unprecedented transparency into how they are paid, along with predictive insights with suggested actions. This expansion represents the next step in a phased roll out across North America.
ADP price target raised to $173 from $150 at Deutsche Bank » 07:4501/2801/28/21
Deutsche Bank analyst…
Deutsche Bank analyst Bryan Keane raised the firm's price target on ADP to $173 from $150 and keeps a Hold rating on the shares citing an improving outlook following the company's better than expected Q2 results.
ADP price target raised to $205 from $200 at Wells Fargo » 07:3001/2801/28/21
Wells Fargo analyst…
Wells Fargo analyst Timothy Willi raised the firm's price target on ADP to $205 from $200 and keeps an Overweight rating on the shares. The analyst cites a "strong" quarter and higher earnings estimates.
ADP raising FY21 bookings, retention, revenue, margin, and EPS guidance » 07:0601/2701/27/21
ADP now sees FY21 revenue…
ADP now sees FY21 revenue growth of 1% to 3%, adjusted EBIT margin decline of (100) to (50) basis points and adjusted diluted EPS growth of (2)% to 2%. Sees Employer Services New Business Bookings growth of 15% to 25% and Employer Services client revenue retention increase of approximately 100 basis points. Sees PEO Services Average Worksite Employee count growth of flat to 2%.
ADP reports Q2 adjusted EPS $1.52, consensus $1.29 » 07:0401/2701/27/21
Reports Q2 revenue $3.7B,…
Reports Q2 revenue $3.7B, consensus $3.57B. Reports Employer Services new business bookings decreased 7%. Kathleen Winters, CFO of ADP, said: "We are very pleased to have delivered Employer Services new business bookings year to date that nearly matches the amount we achieved in the first half of last year, before the effects of the pandemic. Strong sales and record client retention supported steadily improving revenue this quarter, which, combined with continued cost control across our segments, allowed us to deliver adjusted earnings per share ahead of our expectations, even as we accelerate growth investments and overcome continued headwinds related to employment and interest rates. With a strong sales pipeline and coordinated product and marketing efforts in place, our confidence is high for substantial positive new business bookings growth during the second half of the year."