Analyst Consensus ?
ConsensusHold36 ratings
Bullish822.2%
Neutral2363.9%
Bearish513.9%
Automatic Data Processing, Inc. · ADP · FY2027 Q1 · Calendar Q4 2026
ADP raises outlook as AI rollout and bookings support FY27 growth
The current analysis supports a constructive view of ADP's growth trajectory: management paired strong Q1 FY27 performance with a raised outlook and continued investment in AI, global HCM expansion, and partnerships. The thesis still depends on monetizing new AI capabilities, sustaining bookings, and managing FX, PEO, and execution risks.
Reported Before market openNASDAQTechnology
$116.15B market cap
80quality score
Earnings scorecard
Reported versus consensus
Reported EPS
—
Consensus $2.77
EPS surprise
—
Reported versus consensus
Reported revenue
—
Consensus $5.48B
Revenue surprise
—
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
-2.5%
Event window
SPY move
+0.2%
Same window
Abnormal move
-2.7%
Stock minus SPY
Volume
0.4×
Versus trailing sessions
Subsequent drift
0.0%
Up to 20 sessions
ADPSPY benchmark
Ask FN2 about ADP FY2027 Q1
Transcript, numbers and history already loaded
What drove ADP's -2.5% move after FY2027 Q1 earnings?What changed in ADP's guidance and outlook in FY2027 Q1?Give me the bull and bear case for ADP after FY2027 Q1 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Compared with the prior quarter, the outlook moved from maintained to raised for full-year revenue and client-funds interest. The current analysis also adds the PNC embedded-payroll partnership, broader Lyric availability in Europe, and further scaling of ADP Assist, the Zone, and API Central.
Guidance delta
Management raised its full-year revenue and client-funds interest outlook while maintaining margin guidance.
Key takeaways
- Q1 FY27 growth and margin expansion led management to raise its full-year outlook.
- AI tools, Lyric HCM expansion, and API Central are central to the growth plan.
- The PNC embedded-payroll partnership broadens ADP's distribution, while FX and PEO trends remain watch items.
Management priorities
- Scale the Zone across sales and service teams.
- Expand API Central, consumption-based AI services, and Lyric HCM globally.
- Invest in AI, cloud infrastructure, product innovation, and embedded payroll partnerships.
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Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$285.04Current
$214Low
$263.29Average
$340High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 28, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Guggenheim | Buy | Buy | Maintain | Oct 23, 2026 |
| Cantor Fitzgerald | Overweight | Overweight | Maintain | Aug 5, 2026 |
| Wells Fargo | Equal Weight | Equal Weight | Maintain | Jul 30, 2026 |
| Stifel | Hold | Hold | Maintain | Jul 30, 2026 |
| Morgan Stanley | Equal Weight | Equal Weight | Maintain | Jul 30, 2026 |
| Citigroup | Neutral | Neutral | Maintain | Jul 30, 2026 |
| UBS | Neutral | Neutral | Maintain | Jul 22, 2026 |
| TD Cowen | Hold | Hold | Maintain | Jul 6, 2026 |
| Argus Research | Buy | Buy | Maintain | May 5, 2026 |
| JP Morgan | Underweight | Underweight | Maintain | Jan 29, 2026 |
| Jefferies | Underperform | Hold | Downgrade | Dec 16, 2025 |
| Mizuho | Outperform | Outperform | Maintain | Jun 13, 2025 |
| RBC Capital | Sector Perform | Sector Perform | Maintain | Jun 5, 2025 |
| TD Securities | Hold | Hold | Maintain | May 21, 2025 |
| Barclays | Overweight | Overweight | Maintain | Feb 3, 2025 |
| B of A Securities | Neutral | Neutral | Maintain | Aug 1, 2024 |
| Evercore ISI Group | Underperform | Underperform | Maintain | Mar 26, 2024 |
| Wolfe Research | Peer Perform | Underperform | Upgrade | Jan 4, 2024 |
| Deutsche Bank | Hold | Hold | Maintain | Apr 27, 2023 |
| Baird | Neutral | Neutral | Maintain | Apr 27, 2023 |
| BMO Capital | Market Perform | Market Perform | Maintain | Oct 28, 2021 |
| Credit Suisse | Neutral | Outperform | Downgrade | Aug 16, 2021 |
| Cowen & Co. | Market Perform | Outperform | Downgrade | Sep 21, 2020 |
| Goldman Sachs | Sell | Sell | Maintain | Jul 14, 2020 |
| CFRA | Hold | Hold | Maintain | Apr 29, 2020 |
| MoffettNathanson | Neutral | Buy | Downgrade | Jan 7, 2020 |
| Bank of America | Neutral | Buy | Downgrade | Sep 11, 2019 |
| Argus | Buy | Buy | Maintain | Aug 13, 2018 |
| Wedbush | Neutral | Neutral | Maintain | Jun 13, 2018 |
| Stifel Nicolaus | Hold | Hold | Maintain | Jun 6, 2018 |
| Bernstein | Outperform | Outperform | Maintain | Oct 31, 2017 |
| William Blair | Market Perform | Outperform | Downgrade | Jul 21, 2017 |
| Compass Point | Sell | Sell | Maintain | Apr 15, 2016 |
| Sterne Agee CRT | Neutral | Neutral | Maintain | Dec 17, 2015 |
| Raymond James | Outperform | Outperform | Maintain | Aug 1, 2014 |
| Susquehanna | Neutral | Positive | Downgrade | Aug 2, 2013 |
Named analyst price targets
Upside is calculated against the persisted current price $285.04. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Guggenheim | Analyst unavailable | $340 | $307.94 | +19.3% | Oct 23, 2026 |
| Cantor Fitzgerald | Analyst unavailable | $310 | $272.41 | +8.8% | Aug 3, 2026 |
| Morgan Stanley | Analyst unavailable | $286 | $273.37 | +0.3% | Jul 30, 2026 |
| Guggenheim | Analyst unavailable | $300 | $273.37 | +5.3% | Jul 30, 2026 |
| Jefferies | Analyst unavailable | $225 | $276.08 | -21.1% | Jul 29, 2026 |
| Cantor Fitzgerald | Ramsey El-Assal | $294 | $243.24 | +3.1% | Jul 22, 2026 |
| Cantor Fitzgerald | Analyst unavailable | $295 | $246.22 | +3.5% | Jul 22, 2026 |
| UBS | Analyst unavailable | $270 | $246.22 | -5.3% | Jul 22, 2026 |
| Wells Fargo | Jason Kupferberg | $248 | $241.37 | -13.0% | Jul 9, 2026 |
| Stifel Nicolaus | Analyst unavailable | $260 | $245.6 | -8.8% | Jul 8, 2026 |
| Morgan Stanley | Analyst unavailable | $240 | $213 | -15.8% | May 10, 2026 |
| Argus Research | Analyst unavailable | $240 | $209.14 | -15.8% | May 5, 2026 |
| Robert W. Baird | Analyst unavailable | $270 | $215.06 | -5.3% | Apr 30, 2026 |
| Jefferies | Analyst unavailable | $190 | $215.06 | -33.3% | Apr 29, 2026 |
| Cantor Fitzgerald | Analyst unavailable | $244 | $204.24 | -14.4% | Apr 21, 2026 |
| Wells Fargo | Analyst unavailable | $214 | $201.25 | -24.9% | Mar 27, 2026 |
| Stifel Nicolaus | David Grossman | $270 | $231.36 | -5.3% | Feb 9, 2026 |
| BMO Capital | Daniel Jester | $281 | $249.06 | -1.4% | Jan 29, 2026 |
| Stifel Nicolaus | David Grossman | $280 | $250.69 | -1.8% | Jan 29, 2026 |
| Morgan Stanley | James Faucette | $274 | $250.69 | -3.9% | Jan 29, 2026 |
| Wells Fargo | Analyst unavailable | $262 | $250.69 | -8.1% | Jan 29, 2026 |
| Cantor Fitzgerald | Analyst unavailable | $306 | $258.17 | +7.4% | Jan 26, 2026 |
| BMO Capital | Daniel Jester | $288 | $260.14 | +1.0% | Jan 16, 2026 |
| Jefferies | Samad Samana | $230 | $264.96 | -19.3% | Dec 16, 2025 |
| Stifel Nicolaus | David Grossman | $290 | $261.16 | +1.7% | Oct 30, 2025 |
| Jefferies | Analyst unavailable | $245 | $261.22 | -14.0% | Oct 29, 2025 |
| Wells Fargo | Analyst unavailable | $288 | $283.98 | +1.0% | Oct 21, 2025 |
| UBS | Analyst unavailable | $290 | $288.69 | +1.7% | Sep 16, 2025 |
| Jefferies | Analyst unavailable | $315 | $310.94 | +10.5% | Jul 30, 2025 |
| UBS | Kevin McVeigh | $315 | $306.82 | +10.5% | Jun 13, 2025 |
| Jefferies | Samad Samana | $305 | $300.57 | +7.0% | Jan 29, 2025 |
| RBC Capital | Ashish Sabadra | $315 | $290.24 | +10.5% | Oct 31, 2024 |
| Bank of America Securities | Jason Kupferberg | $281 | $285.16 | -1.4% | Oct 4, 2024 |
| Bank of America Securities | Jason Kupferberg | $267 | $262.62 | -6.3% | Aug 1, 2024 |
| RBC Capital | Ashish Sabadra | $267 | $252.98 | -6.3% | Sep 5, 2023 |
| Barclays | Analyst unavailable | $257 | $218.18 | -9.8% | May 2, 2022 |
| Citigroup | Analyst unavailable | $230 | $218.18 | -19.3% | May 2, 2022 |
| Mizuho Securities | Dan Dolev | $250 | $218.18 | -12.3% | May 2, 2022 |
| Stifel Nicolaus | David Grossman | $238 | $212.46 | -16.5% | Mar 16, 2022 |
| BMO Capital | Jeffrey Silber | $220 | $233.04 | -22.8% | Nov 16, 2021 |
| J.P. Morgan | Tien Tsin Huang | $224 | $211.82 | -21.4% | Aug 17, 2021 |
| Credit Suisse | Kevin Mcveigh | $215 | $213.56 | -24.6% | Aug 16, 2021 |
Track every rating change on ADP the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationAutomatic Data Processing, Inc. (ADP) is a global provider of cloud-based solutions designed for human capital management (HCM). The company organizes its operations into two primary segments: Employer Services and Professional Employer Organization (PEO). Through its Employer Services division, ADP delivers strategic, cloud-powered platforms and comprehensive human resources (HR) outsourcing.…
Historical context
All ADP earningsTechnology peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| TEL TE Connectivity plc | FY2026 Q4 · Calendar Q4 2026 | — | -1.4% | TE Connectivity: AI infrastructure drives FY2027 growth outlook |
| UMC United Microelectronics Corporation | FY2026 Q3 · Calendar Q4 2026 | — | -4.0% | UMC Q3 2026: record shipments, 34% gross margin, $3.2B capex added for AI packaging |
| SKHY SK hynix Inc. | FY2026 Q3 · Calendar Q4 2026 | — | +1.9% | SK hynix leans into AI memory demand and 2027 capacity |
| NXPI NXP Semiconductors N.V. | FY2026 Q3 · Calendar Q4 2026 | +1.9% | +3.1% | NXP posts strong Q3 as SDV, industrial AI and data center gains build |
| MANH Manhattan Associates, Inc. | FY2026 Q3 · Calendar Q4 2026 | +6.2% | -1.0% | Manhattan Associates Q3: Cloud Growth and RPO Lift Outlook |
| FFIV F5, Inc. | FY2026 Q4 · Calendar Q4 2026 | +3.8% | -0.5% | F5: AI security momentum supports FY27 growth plan, with spending rising |
Latest beats and misses
Who reports nextBeat on EPS
- HLTFY2026 Q3 · October 27, 2026+3.4% EPS-2.1% move
- SPGIFY2026 Q3 · October 27, 2026+3.4% EPS-0.4% move
- PYPLFY2026 Q3 · October 27, 2026+10.7% EPS+2.0% move
- CMSAFY2026 Q3 · October 27, 2026+6.7% EPS0.0% move
- ITWFY2026 Q3 · October 27, 2026+2.4% EPS-0.1% move
- IQVFY2026 Q3 · October 27, 2026+2.5% EPS-0.7% move
Missed on EPS
- WMFY2026 Q3 · October 27, 2026-1.4% EPS-3.2% move
- ARCCFY2026 Q3 · October 27, 2026-3.4% EPS-0.5% move
- WSOFY2026 Q3 · October 27, 2026-8.0% EPS-1.4% move
- IVZFY2026 Q3 · October 27, 2026-2.7% EPS-0.4% move
- SHWFY2026 Q3 · October 27, 2026-1.6% EPS-2.7% move
- BAFY2026 Q3 · October 27, 2026-33.4% EPS-10.7% move
Get the ADP recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-10-28T16:04:49.927854+00:00
- FN2 earnings calendar · 2026-10-28T01:23:13.546025+00:00
- Polygon adjusted daily market bars · 2026-10-28T16:10:45.139241+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-28T16:10:45.135714+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-28. For educational purposes only; not investment advice.