Analysts Offer Insights on Technology Companies: Ansys (NASDAQ: ANSS) and Automatic Data Processing (NASDAQ: ADP)

By Ryan Adsit

Analysts fell to the sidelines weighing in on Ansys (NASDAQ: ANSS) and Automatic Data Processing (NASDAQ: ADP) with neutral ratings,indicating that the experts are neither bullish nor bearish on the stocks.

Ansys (NASDAQ: ANSS)

In a report released today, Kenneth Talanian from Evercore ISI assigned a Hold rating to Ansys (NASDAQ: ANSS), with a price target of $113. The company’s shares opened today at $131.68, close to its 52-week high of $132.74.

Talanian wrote:

“We previously previewed ANSYS’s analyst day as part of a larger note (see here), but wanted to republish it given that the company is hosting its analyst day tomorrow (9/14).”

According to TipRanks.com, Talanian is a 3-star analyst with an average return of 5.1% and a 62.2% success rate. Talanian covers the Technology sector, focusing on stocks such as Microsoft Corp, Proofpoint Inc, and Symantec Corp.

Currently, the analyst consensus on Ansys is Hold and the average price target is $119.20, representing a -9.5% downside.

In a report issued on September 10, RBC Capital also reiterated a Hold rating on the stock with a $118 price target.
Automatic Data Processing (NASDAQ: ADP)

In a report released yesterday, Jeffrey Silber from BMO Capital reiterated a Hold rating on Automatic Data Processing (NASDAQ: ADP), with a price target of $105. The company’s shares opened today at $107.88.

According to TipRanks.com, Silber is a top 100 analyst with an average return of 19.0% and a 73.8% success rate. Silber covers the Services sector, focusing on stocks such as AMN Healthcare Services Inc, Apollo Education Group Inc, and American Public Education.

Currently, the analyst consensus on Automatic Data Processing is Hold and the average price target is $104.30, representing a -3.3% downside.

In a report issued on August 28, Stifel Nicolaus also reiterated a Hold rating on the stock with a $108 price target.

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