Automatic Data Processing (NASDAQ:ADP) PT Raised to $282.00

Automatic Data Processing (NASDAQ:ADP) had its price target upped by investment analysts at Barclays from $280.00 to $282.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the business services provider’s stock. Barclays‘s target price would suggest a potential upside of 16.58% from the stock’s previous close.

A number of other research firms have also recently commented on ADP. StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Wolfe Research upgraded Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a research report on Thursday, January 4th. Evercore ISI upped their price target on Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a research report on Tuesday, March 26th. Royal Bank of Canada restated a “sector perform” rating and issued a $267.00 price target on shares of Automatic Data Processing in a research report on Thursday, February 1st. Finally, Mizuho upped their price target on Automatic Data Processing from $265.00 to $272.00 and gave the stock a “buy” rating in a research report on Monday, March 11th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $255.42.

Automatic Data Processing Stock Down 0.1 %

Shares of NASDAQ:ADP opened at $241.89 on Thursday. The stock has a fifty day simple moving average of $245.91 and a two-hundred day simple moving average of $239.13. The stock has a market capitalization of $99.37 billion, a price-to-earnings ratio of 27.00, a PEG ratio of 2.32 and a beta of 0.78. Automatic Data Processing has a 12-month low of $205.53 and a 12-month high of $256.84. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.65.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, May 1st. The business services provider reported $2.88 earnings per share for the quarter, topping the consensus estimate of $2.79 by $0.09. Automatic Data Processing had a return on equity of 93.09% and a net margin of 19.56%. The firm had revenue of $5.30 billion during the quarter, compared to analysts’ expectations of $5.22 billion. During the same quarter in the previous year, the business earned $2.52 earnings per share. The company’s revenue was up 7.6% on a year-over-year basis. On average, research analysts anticipate that Automatic Data Processing will post 9.15 earnings per share for the current fiscal year.

Insider Transactions at Automatic Data Processing

In related news, VP David Kwon sold 863 shares of the stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $250.00, for a total value of $215,750.00. Following the transaction, the vice president now owns 8,285 shares of the company’s stock, valued at $2,071,250. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, VP Sreenivasa Kutam sold 368 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $247.01, for a total value of $90,899.68. Following the completion of the transaction, the vice president now owns 20,319 shares in the company, valued at approximately $5,018,996.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP David Kwon sold 863 shares of the firm’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $250.00, for a total value of $215,750.00. Following the completion of the transaction, the vice president now owns 8,285 shares of the company’s stock, valued at approximately $2,071,250. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,829 shares of company stock worth $965,274. 0.26% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Automatic Data Processing

A number of institutional investors have recently modified their holdings of the stock. Heritage Investment Group Inc. raised its stake in shares of Automatic Data Processing by 1.9% during the 4th quarter. Heritage Investment Group Inc. now owns 2,201 shares of the business services provider’s stock valued at $513,000 after buying an additional 41 shares during the last quarter. Bedel Financial Consulting Inc. increased its stake in shares of Automatic Data Processing by 0.8% in the 4th quarter. Bedel Financial Consulting Inc. now owns 5,254 shares of the business services provider’s stock valued at $1,224,000 after purchasing an additional 42 shares in the last quarter. Argus Investors Counsel Inc. increased its stake in shares of Automatic Data Processing by 0.5% in the 4th quarter. Argus Investors Counsel Inc. now owns 8,863 shares of the business services provider’s stock valued at $2,065,000 after purchasing an additional 43 shares in the last quarter. Prestige Wealth Management Group LLC increased its stake in shares of Automatic Data Processing by 0.8% in the 1st quarter. Prestige Wealth Management Group LLC now owns 5,581 shares of the business services provider’s stock valued at $1,402,000 after purchasing an additional 43 shares in the last quarter. Finally, Patron Partners LLC increased its stake in shares of Automatic Data Processing by 1.6% in the 1st quarter. Patron Partners LLC now owns 2,733 shares of the business services provider’s stock valued at $683,000 after purchasing an additional 44 shares in the last quarter. Hedge funds and other institutional investors own 80.03% of the company’s stock.

About Automatic Data Processing

Automatic Data Processing, Inc provides cloud-based human capital management solutions worldwide. It operates in two segments, Employer Services and Professional Employer Organization (PEO). The Employer Services segment offers strategic, cloud-based platforms, and human resources (HR) outsourcing solutions.