Cantor Fitzgerald Cuts Automatic Data Processing (NASDAQ:ADP) Price Target to $244.00

Automatic Data Processing (NASDAQ:ADP) had its price target cut by research analysts at Cantor Fitzgerald from $306.00 to $244.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the business services provider’s stock. Cantor Fitzgerald’s target price suggests a potential upside of 20.56% from the stock’s previous close.

A number of other equities analysts also recently commented on the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of Automatic Data Processing in a research note on Monday, December 29th. Citigroup lowered their target price on shares of Automatic Data Processing from $303.00 to $265.00 and set a “neutral” rating for the company in a research note on Thursday, January 29th. Morgan Stanley lowered their target price on shares of Automatic Data Processing from $311.00 to $274.00 and set an “equal weight” rating for the company in a research note on Thursday, January 29th. UBS Group lowered their target price on shares of Automatic Data Processing from $220.00 to $210.00 and set a “neutral” rating for the company in a research note on Monday, April 13th. Finally, Guggenheim started coverage on shares of Automatic Data Processing in a research note on Thursday, March 19th. They set a “buy” rating and a $270.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $273.85.

Automatic Data Processing Stock Performance

NASDAQ:ADP opened at $202.39 on Tuesday. The company has a fifty day simple moving average of $208.68 and a two-hundred day simple moving average of $242.80. The company has a market cap of $81.49 billion, a price-to-earnings ratio of 19.46 and a beta of 0.85. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.62. Automatic Data Processing has a 52 week low of $188.16 and a 52 week high of $329.93.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, January 28th. The business services provider reported $2.62 EPS for the quarter, topping the consensus estimate of $2.57 by $0.05. The business had revenue of $5.36 billion during the quarter, compared to the consensus estimate of $5.34 billion. Automatic Data Processing had a net margin of 19.96% and a return on equity of 68.44%. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.35 earnings per share. Automatic Data Processing has set its FY 2026 guidance at 10.091-11.011 EPS. As a group, equities analysts anticipate that Automatic Data Processing will post 10.96 earnings per share for the current fiscal year.

Automatic Data Processing announced that its Board of Directors has authorized a share repurchase plan on Wednesday, January 14th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the business services provider to purchase up to 5.8% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity at Automatic Data Processing

In related news, VP Christopher D’ambrosio sold 543 shares of the business’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $208.45, for a total value of $113,188.35. Following the completion of the sale, the vice president directly owned 8,912 shares of the company’s stock, valued at $1,857,706.40. The trade was a 5.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Brian L. Michaud sold 1,000 shares of the business’s stock in a transaction on Friday, February 6th. The shares were sold at an average price of $234.18, for a total transaction of $234,180.00. Following the completion of the sale, the vice president directly owned 15,310 shares of the company’s stock, valued at approximately $3,585,295.80. This trade represents a 6.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,809 shares of company stock valued at $410,410 over the last ninety days. Insiders own 0.20% of the company’s stock.

Institutional Investors Weigh In On Automatic Data Processing

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Meyer Handelman Co. lifted its position in Automatic Data Processing by 3.7% in the first quarter. Meyer Handelman Co. now owns 88,198 shares of the business services provider’s stock valued at $17,920,000 after acquiring an additional 3,138 shares during the last quarter. Louisiana State Employees Retirement System purchased a new position in Automatic Data Processing during the first quarter worth about $9,549,000. Kestra Private Wealth Services LLC raised its holdings in Automatic Data Processing by 0.3% during the first quarter. Kestra Private Wealth Services LLC now owns 29,841 shares of the business services provider’s stock worth $6,063,000 after purchasing an additional 79 shares in the last quarter. Corundum Group Inc. raised its holdings in Automatic Data Processing by 56.7% during the first quarter. Corundum Group Inc. now owns 4,290 shares of the business services provider’s stock worth $872,000 after purchasing an additional 1,552 shares in the last quarter. Finally, KFA Private Wealth Group LLC raised its holdings in Automatic Data Processing by 1.6% during the first quarter. KFA Private Wealth Group LLC now owns 4,205 shares of the business services provider’s stock worth $854,000 after purchasing an additional 66 shares in the last quarter. 80.03% of the stock is owned by hedge funds and other institutional investors.

Automatic Data Processing Company Profile

Automatic Data Processing, Inc (ADP) is a global provider of cloud-based human capital management (HCM) and payroll solutions. Founded in 1949 and headquartered in Roseland, New Jersey, ADP began as a payroll processing company and has evolved into a diversified provider of workforce management, HR, benefits administration, tax and compliance services, and analytics for employers of all sizes.

ADP’s product portfolio includes payroll processing and tax filing, time and attendance systems, benefits administration, talent management, and HR outsourcing.