Analysts Offer Insights on Technology Companies: Automatic Data Processing (NASDAQ: ADP) and Medidata Solutions (NASDAQ: MDSO)

By Jason Carr

Companies in the Technology sector have received a lot of coverage today as analysts weigh in on Automatic Data Processing (NASDAQ: ADP) and Medidata Solutions (NASDAQ: MDSO).

Automatic Data Processing (NASDAQ: ADP)

In a report released today, Jeffrey Silber from BMO Capital maintained a Hold rating on Automatic Data Processing (NASDAQ: ADP), with a price target of $138. The company’s shares closed yesterday at $139.30, close to its 52-week high of $139.45.

According to TipRanks.com, Silber is a top 100 analyst with an average return of 23.3% and a 77.5% success rate. Silber covers the Services sector, focusing on stocks such as Adtalem Global Education Inc, AMN Healthcare Services Inc, and American Public Education.

Currently, the analyst consensus on Automatic Data Processing is Moderate Buy and the average price target is $135.60, representing a -2.7% downside.

In a report issued on June 6, Stifel Nicolaus also maintained a Hold rating on the stock with a $148 price target.

See today’s analyst top recommended stocks >>

Medidata Solutions (NASDAQ: MDSO)

Deutsche Bank analyst Glen Santangelo maintained a Buy rating on Medidata Solutions (NASDAQ: MDSO) today and set a price target of $90. The company’s shares closed yesterday at $80.30.

Santangelo has an average return of 11.9% when recommending Medidata Solutions.

According to TipRanks.com, Santangelo is ranked #877 out of 4829 analysts.

Currently, the analyst consensus on Medidata Solutions is Strong Buy and the average price target is $86.33, representing a 7.5% upside.

In a report released yesterday, Piper Jaffray also reiterated a Buy rating on the stock with a $98 price target.

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