Automatic Data Processing (NASDAQ:ADP) had its price target lifted by equities research analysts at Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell from $190.00 to $212.00 in a research report issued on Monday, Analyst Ratings Network reports. The firm currently has a “buy” rating on the business services provider’s stock. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell’s price target would indicate a potential upside of 9.30% from the stock’s current price.
A number of other research firms have also recently commented on ADP. Wells Fargo & Company increased their target price on Automatic Data Processing from $200.00 to $205.00 and gave the stock an “overweight” rating in a research note on Thursday, January 28th. Barclays raised their price objective on shares of Automatic Data Processing from $197.00 to $212.00 and gave the company an “overweight” rating in a research note on Monday. Jefferies Financial Group lifted their target price on shares of Automatic Data Processing from $197.00 to $200.00 and gave the stock a “hold” rating in a report on Wednesday, March 24th. Morgan Stanley raised their price target on shares of Automatic Data Processing from $171.00 to $185.00 and gave the company an “equal weight” rating in a research report on Thursday, April 29th. Finally, Evercore ISI cut Automatic Data Processing from an “outperform” rating to an “underperform” rating and lowered their price objective for the company from $197.00 to $143.00 in a research report on Tuesday, January 12th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $174.53.
NASDAQ:ADP opened at $193.97 on Monday. The firm has a market capitalization of $83.01 billion, a P/E ratio of 33.68, a PEG ratio of 2.39 and a beta of 0.70. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.08 and a quick ratio of 1.08. Automatic Data Processing has a one year low of $127.31 and a one year high of $197.28. The company’s 50-day simple moving average is $189.95 and its 200 day simple moving average is $174.37.
Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Tuesday, April 27th. The business services provider reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.82 by $0.07. The firm had revenue of $4.10 billion for the quarter, compared to analysts’ expectations of $4.08 billion. Automatic Data Processing had a return on equity of 46.13% and a net margin of 17.07%. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.92 EPS. On average, equities research analysts expect that Automatic Data Processing will post 5.63 earnings per share for the current fiscal year.
In related news, VP Stuart Sackman sold 576 shares of the business’s stock in a transaction that occurred on Monday, March 15th. The stock was sold at an average price of $185.00, for a total transaction of $106,560.00. Following the completion of the transaction, the vice president now directly owns 23,221 shares in the company, valued at approximately $4,295,885. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Deborah L. Dyson sold 500 shares of the stock in a transaction that occurred on Monday, April 12th. The stock was sold at an average price of $188.72, for a total transaction of $94,360.00. Following the completion of the sale, the vice president now directly owns 24,686 shares of the company’s stock, valued at $4,658,741.92. The disclosure for this sale can be found here. Company insiders own 0.34% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Schonfeld Strategic Advisors LLC lifted its position in shares of Automatic Data Processing by 410.6% in the third quarter. Schonfeld Strategic Advisors LLC now owns 22,015 shares of the business services provider’s stock valued at $3,071,000 after acquiring an additional 29,104 shares in the last quarter. Brinker Capital Investments LLC purchased a new stake in Automatic Data Processing during the 3rd quarter valued at approximately $1,599,000. Mercer Global Advisors Inc. ADV grew its holdings in Automatic Data Processing by 4.5% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 17,483 shares of the business services provider’s stock valued at $2,439,000 after buying an additional 758 shares in the last quarter. Rockland Trust Co. raised its position in shares of Automatic Data Processing by 4.0% during the fourth quarter. Rockland Trust Co. now owns 82,658 shares of the business services provider’s stock valued at $14,565,000 after buying an additional 3,143 shares during the last quarter. Finally, Private Trust Co. NA lifted its holdings in shares of Automatic Data Processing by 11.5% in the fourth quarter. Private Trust Co. NA now owns 17,378 shares of the business services provider’s stock worth $3,062,000 after buying an additional 1,798 shares in the last quarter. Hedge funds and other institutional investors own 79.65% of the company’s stock.
Automatic Data Processing Company Profile
Automatic Data Processing, Inc provides cloud-based human capital management solutions worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO). The Employer Services segment offers strategic, cloud-based platforms, and human resources (HR) outsourcing solutions.
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