Automatic Data Processing (NASDAQ:ADP) PT Raised to $235.00

Automatic Data Processing (NASDAQ:ADP) had its price target hoisted by analysts at Evercore ISI from $227.00 to $235.00 in a research report issued on Tuesday, Benzinga reports. The firm presently has an “underperform” rating on the business services provider’s stock. Evercore ISI’s target price points to a potential downside of 5.37% from the stock’s current price.

Several other analysts have also recently issued reports on ADP. Bank of America upgraded Automatic Data Processing from an “underperform” rating to a “neutral” rating and upped their target price for the company from $217.00 to $243.00 in a report on Wednesday, January 17th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $250.00 price target on shares of Automatic Data Processing in a research note on Thursday, November 30th. Wolfe Research raised Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a research note on Thursday, January 4th. Mizuho upped their price target on Automatic Data Processing from $265.00 to $272.00 and gave the company a “buy” rating in a research note on Monday, March 11th. Finally, StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $253.08.

Automatic Data Processing Trading Up 1.3 %

Shares of ADP stock opened at $248.33 on Tuesday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market cap of $102.01 billion, a price-to-earnings ratio of 28.91, a PEG ratio of 2.29 and a beta of 0.78. The stock has a 50 day simple moving average of $246.22 and a 200-day simple moving average of $238.91. Automatic Data Processing has a 1-year low of $201.46 and a 1-year high of $256.84.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, January 31st. The business services provider reported $2.13 EPS for the quarter, topping the consensus estimate of $2.10 by $0.03. Automatic Data Processing had a return on equity of 95.22% and a net margin of 19.14%. The firm had revenue of $4.67 billion during the quarter, compared to analysts’ expectations of $4.65 billion. During the same period in the previous year, the business earned $1.96 earnings per share. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, equities research analysts expect that Automatic Data Processing will post 9.14 EPS for the current fiscal year.

Insider Activity

In related news, VP Don Mcguire sold 11,333 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $245.00, for a total transaction of $2,776,585.00. Following the transaction, the vice president now owns 19,906 shares in the company, valued at approximately $4,876,970. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, VP Don Mcguire sold 11,333 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $245.00, for a total transaction of $2,776,585.00. Following the transaction, the vice president now owns 19,906 shares in the company, valued at approximately $4,876,970. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Sreenivasa Kutam sold 368 shares of the firm’s stock in a transaction that occurred 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 transaction, the vice president now owns 20,319 shares in the company, valued at approximately $5,018,996.19. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,662 shares of company stock worth $4,094,554. 0.26% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of ADP. Sei Investments Co. lifted its holdings in shares of Automatic Data Processing by 19.3% in the 1st quarter. Sei Investments Co. now owns 134,223 shares of the business services provider’s stock valued at $30,532,000 after buying an additional 21,671 shares during the period. Dakota Wealth Management acquired a new stake in shares of Automatic Data Processing in the 1st quarter valued at approximately $571,000. Zions Bancorporation N.A. lifted its holdings in shares of Automatic Data Processing by 12.4% in the 1st quarter. Zions Bancorporation N.A. now owns 453 shares of the business services provider’s stock valued at $103,000 after buying an additional 50 shares during the period. Covestor Ltd raised its holdings in Automatic Data Processing by 82.8% during the first quarter. Covestor Ltd now owns 636 shares of the business services provider’s stock worth $145,000 after purchasing an additional 288 shares during the last quarter. Finally, Merit Financial Group LLC raised its holdings in Automatic Data Processing by 4.4% during the first quarter. Merit Financial Group LLC now owns 2,902 shares of the business services provider’s stock worth $660,000 after purchasing an additional 121 shares during the last quarter. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

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.