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Sentiment · FY2026 Q3
| Analyst | Firm | Questions | ChallengePercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|---|
| Tien-Tsin Huang | JPMorgan | 14 | 0% |
| Mark Marcon | Robert W. Baird | 14 | 0% |
| Kartik Mehta | Northcoast Research | 12 | 8% |
| Ramsey El-Assal | Cantor Fitzgerald | 11 | 0% |
| Dan Dolev | Mizuho Securities | 11 | 9% |
| Samad Samana | Jefferies | 10 | 10% |
| Scott Wurtzel | Wolfe Research | 9 | 0% |
| Bryan Bergin | TD Cowen | 8 | 13% |
| Jim Faucette | Morgan Stanley | 8 | 0% |
| Dan Jester | BMO Capital Markets | 7 | 0% |
| Firm | Analysts | Questions | ChallengePercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|---|
| TD Cowen | 3 | 14 | 7% |
| Robert W. Baird | 1 | 14 | 0% |
| JPMorgan | 1 | 14 | 0% |
| Northcoast Research | 1 |
| 12 |
| 8% |
| Mizuho Securities | 1 | 11 | 9% |
| Cantor Fitzgerald | 1 | 11 | 0% |
| Jefferies | 1 | 10 | 10% |
| Wolfe Research | 1 | 9 | 0% |
ADP sustained momentum with 7% revenue growth and 10% adjusted EPS growth in Q3, achieving a record Q3 retention rate and highest client satisfaction scores while EBIT margin expanded 80 basis points year-over-year. ADP Assist AI agents began delivering measurable efficiency gains across the platform, and international and compliance solutions drove bookings strength. Management raised FY2026 EPS growth guidance again to 10-11%.
Demand | Competitive Dynamics | Revenue Growth | M&A | Macroeconomic | Product Launch | Labor Market | Innovation & R&D | |
|---|---|---|---|---|---|---|---|---|
| 2025Q1 | 5 | 5 | 8 | 9 | 3 | 2 | 1 | 3 |
| 2025Q2 | 7 | 7 | 10 | 3 | 4 | 1 | 4 | 2 |
| 2025Q3 | 3 | 5 | 4 | 3 | 5 | 2 | 5 | 1 |
| 2025Q4 | 9 | 7 | 2 | 3 | 5 | 1 | 1 | |
| 2026Q1 | 6 | 4 | 1 | 1 | 4 | 4 | 4 | 3 |
| 2026Q2 | 7 | 6 | 2 | 1 | 2 | 2 | 1 | |
| 2026Q3 | 3 | 6 | 2 | 2 | 2 | 2 |
| '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | '26Q2 | '26Q3 | |
|---|---|---|---|---|---|---|---|
| Demand | 5 | 7 | 3 | 9 | 6 | 7 | 3 |
| Competitive Dynamics | 5 | 7 | 5 | 7 | 4 | 6 | 6 |
| Revenue Growth | 8 | 10 | 4 | 1 | 2 | 2 | |
| M&A | 9 | 3 | 3 | 2 | 1 | 2 | |
| Macroeconomic | 3 | 4 | 5 | 3 | 4 | 1 | |
| Product Launch | 2 | 1 | 2 | 5 | 4 | 2 | 2 |
| Labor Market | 1 | 4 | 5 | 1 | 4 | 2 | |
| Innovation & R&D | 3 | 2 | 1 | 1 | 3 | 1 | 2 |
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
ADP ADP | 7 | +7.0% | |
| PAYX Paychex | 6 | +19.9% |