Brokerages Set Automatic Data Processing, Inc. (NASDAQ:ADP) Target Price at $255.42

Shares of Automatic Data Processing, Inc. (NASDAQ:ADP) have earned a consensus recommendation of “Hold” from the eleven brokerages that are presently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and two have given a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $253.50.

Several research analysts have weighed in on the company. JPMorgan Chase & Co. reduced their target price on Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating on the stock in a report on Thursday, May 2nd. TD Cowen reduced their target price on Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating on the stock in a report on Thursday, May 2nd. Barclays lifted their target price on Automatic Data Processing from $280.00 to $282.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Finally, StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Tuesday, July 2nd.

Automatic Data Processing Stock Up 1.2 %

Shares of Automatic Data Processing stock opened at $252.67 on Monday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.65. Automatic Data Processing has a 12 month low of $205.53 and a 12 month high of $256.84. The business has a fifty day simple moving average of $244.27 and a 200 day simple moving average of $245.05. The stock has a market cap of $103.42 billion, a PE ratio of 28.20, a price-to-earnings-growth ratio of 2.55 and a beta of 0.78.

Automatic Data Processing (NASDAQ:ADP) last posted its 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. The firm had revenue of $5.30 billion for the quarter, compared to analyst estimates of $5.22 billion. Automatic Data Processing had a return on equity of 93.09% and a net margin of 19.56%. The company’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period in the previous year, the company posted $2.52 earnings per share. Research analysts predict that Automatic Data Processing will post 9.16 EPS for the current year.

Institutional Trading of Automatic Data Processing

Several institutional investors and hedge funds have recently bought and sold shares of ADP. Premier Path Wealth Partners LLC acquired a new position in Automatic Data Processing during the fourth quarter worth approximately $492,000. Mutual Advisors LLC increased its position in Automatic Data Processing by 22.2% during the fourth quarter. Mutual Advisors LLC now owns 8,354 shares of the business services provider’s stock worth $1,946,000 after buying an additional 1,518 shares during the last quarter. Compagnie Lombard Odier SCmA increased its position in Automatic Data Processing by 145.7% during the fourth quarter. Compagnie Lombard Odier SCmA now owns 1,000 shares of the business services provider’s stock worth $233,000 after buying an additional 593 shares during the last quarter. CoreCap Advisors LLC acquired a new position in Automatic Data Processing during the fourth quarter worth approximately $1,290,000. Finally, LVW Advisors LLC increased its position in Automatic Data Processing by 41.7% during the fourth quarter. LVW Advisors LLC now owns 3,114 shares of the business services provider’s stock worth $725,000 after buying an additional 916 shares during the last quarter. 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.