ADP long-term outlook remains positive, says Baird

Baird analyst Mark Macon met with ADP management and came away incrementally positive on the company’s long-term outlook. From the discussion, it is obvious that ADP is pursuing multiple growth opportunities as well as pursuing opportunities to increase efficiency and effectiveness. AI is certainly a huge opportunity that ADP is pursuing on multiple fronts that are still early days but will become visible over the next 12 to 24 months. Baird maintains its Neutral rating and $235 price target on ADP shares.