Automatic Data Processing (NASDAQ:ADP) PT Raised to $295.00 at UBS Group

Automatic Data Processing (NASDAQ:ADP) had its target price upped by investment analysts at UBS Group from $270.00 to $295.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the business services provider’s stock. UBS Group’s price objective would suggest a potential upside of 1.71% from the stock’s current price.

A number of other equities research analysts have also recently commented on ADP. Royal Bank of Canada reiterated a “sector perform” rating and issued a $267.00 target price on shares of Automatic Data Processing in a research report on Thursday, August 1st. Citigroup increased their price objective on shares of Automatic Data Processing from $260.00 to $295.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. Stifel Nicolaus boosted their target price on Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. increased their price target on Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a report on Tuesday, August 20th. Finally, Jefferies Financial Group boosted their price objective on Automatic Data Processing from $260.00 to $290.00 and gave the stock a “hold” rating in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $275.33.

Automatic Data Processing Price Performance

Shares of Automatic Data Processing stock opened at $290.04 on Tuesday. The firm has a market cap of $118.71 billion, a PE ratio of 32.37, a P/E/G ratio of 3.13 and a beta of 0.79. Automatic Data Processing has a twelve month low of $205.53 and a twelve month high of $294.18. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.66. The business has a 50-day moving average price of $278.40 and a 200 day moving average price of $257.89.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, July 31st. The business services provider reported $2.09 EPS for the quarter, topping the consensus estimate of $2.06 by $0.03. The company had revenue of $4.80 billion during the quarter, compared to analyst estimates of $4.74 billion. Automatic Data Processing had a net margin of 19.54% and a return on equity of 89.20%. The firm’s revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.89 EPS. Sell-side analysts predict that Automatic Data Processing will post 10.04 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Carlos A. Rodriguez sold 9,203 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $269.45, for a total value of $2,479,748.35. Following the sale, the director now owns 36,741 shares of the company’s stock, valued at $9,899,862.45. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Carlos A. Rodriguez sold 9,203 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $269.45, for a total value of $2,479,748.35. Following the transaction, the director now owns 36,741 shares of the company’s stock, valued at $9,899,862.45. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Maria Black sold 19,147 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $274.38, for a total value of $5,253,553.86. Following the completion of the sale, the chief executive officer now owns 92,807 shares in the company, valued at approximately $25,464,384.66. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 58,817 shares of company stock worth $15,999,208 in the last quarter. 0.26% of the stock is owned by company insiders.

Institutional Investors Weigh In On Automatic Data Processing

Several hedge funds and other institutional investors have recently bought and sold shares of ADP. Kiely Wealth Advisory Group Inc. purchased a new stake in Automatic Data Processing in the second quarter valued at approximately $27,000. Keener Financial Planning LLC raised its position in Automatic Data Processing by 230.3% in the 1st quarter. Keener Financial Planning LLC now owns 109 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 76 shares during the last quarter. Hexagon Capital Partners LLC boosted its stake in Automatic Data Processing by 78.5% during the 3rd quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider’s stock worth $32,000 after purchasing an additional 51 shares during the period. Crewe Advisors LLC purchased a new position in Automatic Data Processing during the 1st quarter worth $33,000. Finally, Pathway Financial Advisers LLC acquired a new position in Automatic Data Processing in the first quarter valued at $36,000. 80.03% of the stock is currently owned by institutional investors and hedge funds.

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.