Automatic Data Processing Price Target Raised to $88.00 at Argus (ADP)
Analysts at Argus hoisted their price target on shares of Automatic Data Processing (NASDAQ:ADP) from $80.00 to $88.00 in a research report issued to clients and investors on Friday, Analyst RN reports. The firm currently has a “buy” rating on the stock. Argus’ price objective would indicate a potential upside of 10.19% from the stock’s previous close.
A number of other analysts have also recently weighed in on ADP. Analysts at Morgan Stanley initiated coverage on shares of Automatic Data Processing in a research note to investors on Thursday, December 5th. They set an “equal weight” rating and a $82.00 price target on the stock. Analysts at BMO Capital Markets reiterated an “outperform” rating on shares of Automatic Data Processing in a research note to investors on Thursday, October 31st. They now have a $84.00 price target on the stock, up previously from $78.00. One analyst has rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $73.96.
Automatic Data Processing (NASDAQ:ADP) opened at 79.86 on Friday. Automatic Data Processing has a 52-week low of $57.75 and a 52-week high of $83.82. The stock’s 50-day moving average is $79.01 and its 200-day moving average is $74.08. The company has a market cap of $38.447 billion and a P/E ratio of 27.48.
Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, October 30th. The company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.02. The company had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.81 billion. During the same quarter in the previous year, the company posted $0.62 earnings per share. The company’s revenue for the quarter was up 7.7% on a year-over-year basis.
Automatic Data Processing, Inc (NASDAQ:ADP) is a provider of business outsourcing solutions.
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