10 AI News Updates Trending on Wall Street

2. Automatic Data Processing Inc. (NASDAQ:ADP)

Number of Hedge Fund Holders: 49

Automatic Data Processing Inc. (NASDAQ:ADP) offers leading online payroll and HR management software and services. The company’s ADP Assist AI tool combines HR data repositories with GenAI to create an easy and smart human capital management experience. The AI tool is built on a human-centric design focusing on ethics and transparency while mitigating bias to ensure clients can access accurate information for easy payroll operations.

On January 29th, Jefferies analyst Samad Samana hiked Automatic Data Processing Inc.’s (NASDAQ:ADP) target price to $305 from $290 while retaining a “Hold” rating. The analysts said the company’s total revenue beat consensus estimates due to healthy demand trends, retention, and favorable timing in the Employer Services and PEO Services segments. The brokerage added that company results were strong and sufficient to lift share prices.