Automatic Data Processing (NASDAQ:ADP) Given New $325.00 Price Target at Barclays

Automatic Data Processing (NASDAQ:ADP) had its price objective hoisted by equities research analysts at Barclays from $310.00 to $325.00 in a report released on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the business services provider’s stock. Barclays‘s price objective points to a potential upside of 11.61% from the stock’s current price.

Several other research analysts have also commented on the stock. Jefferies Financial Group raised their price target on shares of Automatic Data Processing from $260.00 to $290.00 and gave the company a “hold” rating in a report on Tuesday, October 22nd. Royal Bank of Canada raised their price target on shares of Automatic Data Processing from $267.00 to $315.00 and gave the company a “sector perform” rating in a report on Thursday, October 31st. TD Cowen raised their price target on shares of Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a report on Friday, November 1st. Bank of America increased their price objective on shares of Automatic Data Processing from $250.00 to $267.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Finally, JPMorgan Chase & Co. increased their price objective on shares of Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a research report on Tuesday, August 20th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Automatic Data Processing presently has a consensus rating of “Hold” and an average target price of $289.91.

Automatic Data Processing Trading Up 0.5 %

Shares of ADP stock opened at $291.18 on Monday. Automatic Data Processing has a 1-year low of $218.63 and a 1-year high of $294.18. The firm’s 50-day simple moving average is $282.27 and its 200-day simple moving average is $260.80. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market cap of $118.75 billion, a P/E ratio of 31.08, a PEG ratio of 3.35 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, October 30th. The business services provider reported $2.33 EPS for the quarter, beating the consensus estimate of $2.21 by $0.12. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The firm had revenue of $4.83 billion for the quarter, compared to analyst estimates of $4.77 billion. During the same quarter last year, the firm posted $2.08 earnings per share. Automatic Data Processing’s revenue for the quarter was up 7.1% compared to the same quarter last year. As a group, equities analysts forecast that Automatic Data Processing will post 9.94 EPS for the current year.

Insider Transactions at Automatic Data Processing

In other news, VP Michael A. Bonarti sold 26,442 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $270.96, for a total transaction of $7,164,724.32. Following the completion of the sale, the vice president now owns 88,426 shares of the company’s stock, valued at approximately $23,959,908.96. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Maria Black sold 19,147 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $274.38, for a total transaction of $5,253,553.86. Following the transaction, the chief executive officer now directly owns 92,807 shares in the company, valued at $25,464,384.66. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Michael A. Bonarti sold 26,442 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $270.96, for a total value of $7,164,724.32. Following the transaction, the vice president now owns 88,426 shares in the company, valued at $23,959,908.96. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 58,817 shares of company stock valued at $15,999,208. 0.21% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Automatic Data Processing

Several large investors have recently added to or reduced their stakes in ADP. Tower Wealth Partners Inc. grew its position in Automatic Data Processing by 3.4% in the third quarter. Tower Wealth Partners Inc. now owns 1,054 shares of the business services provider’s stock valued at $292,000 after acquiring an additional 35 shares during the period. Harbour Investments Inc. boosted its stake in Automatic Data Processing by 2.1% in the third quarter. Harbour Investments Inc. now owns 1,742 shares of the business services provider’s stock worth $482,000 after purchasing an additional 36 shares in the last quarter. Petredis Investment Advisors LLC boosted its stake in Automatic Data Processing by 0.4% in the third quarter. Petredis Investment Advisors LLC now owns 10,485 shares of the business services provider’s stock worth $2,902,000 after purchasing an additional 37 shares in the last quarter. Moors & Cabot Inc. boosted its stake in Automatic Data Processing by 0.7% in the second quarter. Moors & Cabot Inc. now owns 5,698 shares of the business services provider’s stock worth $1,360,000 after purchasing an additional 39 shares in the last quarter. Finally, Austin Private Wealth LLC boosted its stake in Automatic Data Processing by 4.4% in the third quarter. Austin Private Wealth LLC now owns 923 shares of the business services provider’s stock worth $255,000 after purchasing an additional 39 shares in the last quarter. 80.03% of the stock is currently owned by institutional investors.

Automatic Data Processing Company Profile

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.