Automatic Data Processing (NASDAQ:ADP) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Automatic Data Processing (NASDAQ:ADP) had its price target hoisted by equities research analysts at Wells Fargo & Company from $214.00 to $248.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the business services provider’s stock. Wells Fargo & Company‘s price target points to a potential upside of 2.75% from the company’s current price.

Several other equities research analysts also recently weighed in on ADP. Argus decreased their price target on Automatic Data Processing from $300.00 to $240.00 and set a “buy” rating for the company in a report on Tuesday, May 5th. Cantor Fitzgerald dropped their price objective on shares of Automatic Data Processing from $306.00 to $244.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 29th. BMO Capital Markets cut their price objective on shares of Automatic Data Processing from $281.00 to $234.00 and set a “market perform” rating for the company in a research report on Tuesday, April 7th. Mizuho reduced their target price on shares of Automatic Data Processing from $332.00 to $305.00 in a research note on Thursday, April 30th. Finally, Citigroup lowered their target price on shares of Automatic Data Processing from $265.00 to $230.00 and set a “neutral” rating on the stock in a report on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $248.64.

Automatic Data Processing Stock Performance

Shares of ADP stock opened at $241.37 on Thursday. The stock’s 50-day moving average price is $222.62 and its 200 day moving average price is $225.10. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $96.48 billion, a PE ratio of 22.52 and a beta of 0.83. Automatic Data Processing has a 52-week low of $188.16 and a 52-week high of $315.98.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, April 29th. The business services provider reported $3.37 earnings per share for the quarter, topping analysts’ consensus estimates of $3.30 by $0.07. Automatic Data Processing had a return on equity of 68.82% and a net margin of 20.12%.The company had revenue of $5.94 billion during the quarter, compared to analysts’ expectations of $5.85 billion. During the same period last year, the firm earned $3.06 EPS. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. Automatic Data Processing has set its FY 2026 guidance at 11.010-11.110 EPS. As a group, equities research analysts forecast that Automatic Data Processing will post 11.08 EPS for the current year.

Hedge Funds Weigh In On Automatic Data Processing

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Imprint Wealth LLC acquired a new stake in shares of Automatic Data Processing in the third quarter valued at about $25,000. Cornerstone Financial Management LLC acquired a new position in Automatic Data Processing during the fourth quarter worth about $26,000. Bard Associates Inc. purchased a new position in Automatic Data Processing in the fourth quarter valued at about $28,000. Whipplewood Advisors LLC lifted its position in shares of Automatic Data Processing by 2,740.0% during the 1st quarter. Whipplewood Advisors LLC now owns 142 shares of the business services provider’s stock valued at $29,000 after acquiring an additional 137 shares during the period. Finally, Board of the Pension Protection Fund acquired a new stake in shares of Automatic Data Processing during the 4th quarter valued at approximately $31,000. 80.03% of the stock is owned by institutional investors and hedge funds.

About Automatic Data Processing

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.