Automatic Data Processing (NASDAQ:ADP – Get Free Report) had its price objective raised by equities researchers at Guggenheim from $300.00 to $340.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the business services provider’s stock. Guggenheim‘s price objective would suggest a potential upside of 10.89% from the company’s previous close.
A number of other research firms also recently weighed in on ADP. BMO Capital Markets lifted their price objective on Automatic Data Processing from $248.00 to $305.00 and gave the company a “market perform” rating in a report on Wednesday, July 29th. Stifel Nicolaus increased their target price on Automatic Data Processing from $260.00 to $285.00 and gave the stock a “hold” rating in a report on Thursday, July 30th. Morgan Stanley raised their target price on Automatic Data Processing from $240.00 to $286.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 30th. TD Cowen boosted their price target on Automatic Data Processing from $216.00 to $223.00 and gave the company a “hold” rating in a research note on Monday, July 6th. Finally, Weiss Ratings raised Automatic Data Processing from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, September 22nd. Three research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Automatic Data Processing presently has a consensus rating of “Hold” and a consensus target price of $276.36.
View Our Latest Analysis on ADP
Automatic Data Processing Price Performance
NASDAQ ADP traded down $1.33 on Friday, reaching $306.61. The company’s stock had a trading volume of 248,928 shares, compared to its average volume of 2,843,205. The firm has a market cap of $121.49 billion, a PE ratio of 28.01, a price-to-earnings-growth ratio of 2.67 and a beta of 0.83. The business has a 50-day moving average price of $274.83 and a 200 day moving average price of $245.07. Automatic Data Processing has a 52 week low of $188.16 and a 52 week high of $309.40. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.82.
Automatic Data Processing (NASDAQ:ADP – Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The business services provider reported $2.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.59 by $0.05. Automatic Data Processing had a net margin of 20.11% and a return on equity of 71.34%. The firm had revenue of $5.47 billion during the quarter, compared to analyst estimates of $5.44 billion. The company’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.26 earnings per share. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. Sell-side analysts expect that Automatic Data Processing will post 12.27 EPS for the current year.
Insider Activity
In other Automatic Data Processing news, VP David Kwon sold 798 shares of the business’s stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $280.00, for a total value of $223,440.00. Following the transaction, the vice president directly owned 13,193 shares in the company, valued at $3,694,040. The trade was a 5.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Maria Black sold 29,810 shares of the company’s stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $280.91, for a total transaction of $8,373,927.10. Following the sale, the chief executive officer directly owned 80,624 shares in the company, valued at $22,648,087.84. This represents a 26.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 33,773 shares of company stock worth $9,450,629. Company insiders own 0.15% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the company. Thrive Wealth Management LLC grew its position in Automatic Data Processing by 3.5% during the 2nd quarter. Thrive Wealth Management LLC now owns 1,085 shares of the business services provider’s stock worth $243,000 after acquiring an additional 37 shares during the last quarter. Tanager Wealth Management LLP increased its holdings in Automatic Data Processing by 4.1% during the 3rd quarter. Tanager Wealth Management LLP now owns 971 shares of the business services provider’s stock valued at $251,000 after purchasing an additional 38 shares in the last quarter. Aull & Monroe Investment Management Corp increased its holdings in Automatic Data Processing by 0.3% during the 3rd quarter. Aull & Monroe Investment Management Corp now owns 15,668 shares of the business services provider’s stock valued at $4,043,000 after purchasing an additional 44 shares in the last quarter. Guardian Partners Inc. raised its position in Automatic Data Processing by 0.9% in the 1st quarter. Guardian Partners Inc. now owns 5,127 shares of the business services provider’s stock valued at $1,044,000 after purchasing an additional 47 shares during the last quarter. Finally, Bank & Trust Co raised its position in Automatic Data Processing by 1.3% in the 2nd quarter. Bank & Trust Co now owns 3,908 shares of the business services provider’s stock valued at $875,000 after purchasing an additional 50 shares during the last quarter. Institutional investors own 80.03% of the company’s stock.
About Automatic Data Processing
Automatic Data Processing, Inc (NASDAQ: ADP) is a global provider of human capital management and business outsourcing solutions. The company helps employers manage payroll, human resources, workforce administration, benefits, tax compliance, time and attendance, talent management, and related employment processes.
ADP offers cloud-based platforms and services designed for businesses of various sizes, from small enterprises to large organizations. Its portfolio includes payroll processing, human resources management, employee benefits administration, retirement services, workforce management, data analytics, and professional employer organization services through ADP TotalSource.
Founded in 1949, ADP serves businesses in the United States and international markets.
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