Automatic Data Processing, Inc. (NASDAQ:ADP) Receives $255.42 Consensus Target Price from Brokerages

Automatic Data Processing, Inc. (NASDAQ:ADP) has been assigned an average rating of “Hold” from the eleven ratings firms that are covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $253.50.

A number of research firms have recently issued reports on ADP. Barclays upped their price target on Automatic Data Processing from $280.00 to $282.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. TD Cowen dropped their price target on Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating for the company in a research report on Thursday, May 2nd. Finally, JPMorgan Chase & Co. dropped their price target on Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating for the company in a research report on Thursday, May 2nd.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Keener Financial Planning LLC raised its stake in Automatic Data Processing by 230.3% in the first quarter. Keener Financial Planning LLC now owns 109 shares of the business services provider’s stock valued at $28,000 after buying an additional 76 shares in the last quarter. Crewe Advisors LLC acquired a new stake in Automatic Data Processing in the first quarter valued at $33,000. Pathway Financial Advisers LLC acquired a new stake in Automatic Data Processing in the first quarter valued at $36,000. New Millennium Group LLC acquired a new stake in Automatic Data Processing in the second quarter valued at $40,000. Finally, Pineridge Advisors LLC acquired a new stake in Automatic Data Processing in the fourth quarter valued at $39,000. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Automatic Data Processing Price Performance

NASDAQ:ADP opened at $252.67 on Monday. Automatic Data Processing has a 12 month low of $205.53 and a 12 month high of $256.84. The stock has a 50 day moving average of $244.27 and a two-hundred day moving average of $244.92. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.65. The firm has a market cap of $103.42 billion, a P/E ratio of 28.20, a price-to-earnings-growth ratio of 2.49 and a beta of 0.78.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, May 1st. The business services provider reported $2.88 EPS for the quarter, topping the consensus estimate of $2.79 by $0.09. Automatic Data Processing had a return on equity of 93.09% and a net margin of 19.56%. The company had revenue of $5.30 billion during the quarter, compared to analyst estimates of $5.22 billion. During the same period in the previous year, the business earned $2.52 EPS. Automatic Data Processing’s quarterly revenue was up 7.6% on a year-over-year basis. On average, analysts expect that Automatic Data Processing will post 9.16 earnings per share for the current fiscal year.

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.