Automatic Data Processing (NASDAQ:ADP) PT Raised to $230.00 at Cowen

Automatic Data Processing (NASDAQ:ADPGet Rating) had its price objective boosted by Cowen from $225.00 to $230.00 in a research note issued to investors on Thursday morning, Stock Target Advisor reports.

A number of other equities analysts also recently commented on the company. Cowen lifted their price objective on Automatic Data Processing from $225.00 to $230.00 in a research report on Thursday. Deutsche Bank Aktiengesellschaft lifted their price objective on Automatic Data Processing from $203.00 to $234.00 in a research report on Thursday, April 28th. Mizuho lifted their price objective on Automatic Data Processing from $235.00 to $250.00 and gave the stock a buy rating in a research report on Monday, May 2nd. Wolfe Research reduced their price objective on Automatic Data Processing from $235.00 to $210.00 in a research report on Wednesday, July 20th. Finally, Citigroup lifted their price objective on Automatic Data Processing from $212.00 to $230.00 in a research report on Monday, May 2nd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $231.73.

Automatic Data Processing Stock Performance

NASDAQ ADP opened at $241.12 on Thursday. The company has a market cap of $100.73 billion, a PE ratio of 35.62, a price-to-earnings-growth ratio of 2.33 and a beta of 0.81. The stock’s 50 day simple moving average is $215.74 and its 200-day simple moving average is $215.50. Automatic Data Processing has a 1-year low of $192.26 and a 1-year high of $248.96. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.01 and a quick ratio of 1.01.

Automatic Data Processing (NASDAQ:ADPGet Rating) last released its earnings results on Wednesday, July 27th. The business services provider reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.03. The business had revenue of $4.13 billion for the quarter, compared to the consensus estimate of $4.05 billion. Automatic Data Processing had a return on equity of 56.01% and a net margin of 17.77%. The business’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.20 earnings per share. As a group, equities research analysts anticipate that Automatic Data Processing will post 6.98 EPS for the current fiscal year.

Insider Activity

In other news, VP Christopher D’ambrosio sold 312 shares of Automatic Data Processing stock in a transaction on Monday, May 9th. The stock was sold at an average price of $214.07, for a total value of $66,789.84. Following the completion of the sale, the vice president now directly owns 1,663 shares of the company’s stock, valued at $355,998.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, VP Christopher D’ambrosio sold 312 shares of Automatic Data Processing stock in a transaction on Monday, May 9th. The stock was sold at an average price of $214.07, for a total value of $66,789.84. Following the completion of the sale, the vice president now directly owns 1,663 shares of the company’s stock, valued at $355,998.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Augusto J. Blanchard sold 567 shares of Automatic Data Processing stock in a transaction on Tuesday, July 5th. The shares were sold at an average price of $210.64, for a total value of $119,432.88. Following the completion of the sale, the vice president now directly owns 4,238 shares of the company’s stock, valued at $892,692.32. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Sandy Cove Advisors LLC acquired a new position in Automatic Data Processing during the 4th quarter worth $28,000. Tortoise Investment Management LLC lifted its holdings in Automatic Data Processing by 70.8% during the 4th quarter. Tortoise Investment Management LLC now owns 123 shares of the business services provider’s stock worth $30,000 after buying an additional 51 shares during the last quarter. Delos Wealth Advisors LLC lifted its holdings in Automatic Data Processing by 588.9% during the 4th quarter. Delos Wealth Advisors LLC now owns 124 shares of the business services provider’s stock worth $31,000 after buying an additional 106 shares during the last quarter. Crewe Advisors LLC purchased a new stake in Automatic Data Processing during the 1st quarter worth about $28,000. Finally, Hexagon Capital Partners LLC purchased a new stake in Automatic Data Processing during the 2nd quarter worth about $26,000. 78.84% of the stock is owned by institutional investors and hedge funds.

About Automatic Data Processing

(Get Rating)

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.

Further Reading

Analyst Recommendations for Automatic Data Processing (NASDAQ:ADP)

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