Automatic Data Processing (NASDAQ:ADP) Price Target Raised to $310.00

Automatic Data Processing (NASDAQ:ADP) had its price target increased by stock analysts at Cantor Fitzgerald from $295.00 to $310.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the business services provider’s stock. Cantor Fitzgerald’s target price indicates a potential upside of 16.34% from the company’s current price.

ADP has been the topic of a number of other research reports. Robert W. Baird lowered their price target on Automatic Data Processing from $300.00 to $270.00 in a research report on Thursday, April 30th. BMO Capital Markets boosted their target price on Automatic Data Processing from $248.00 to $305.00 and gave the stock a “market perform” rating in a report on Wednesday, July 29th. Mizuho reduced their price objective on shares of Automatic Data Processing from $332.00 to $305.00 in a research report on Thursday, April 30th. Guggenheim increased their price objective on shares of Automatic Data Processing from $270.00 to $300.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Morgan Stanley upped their price target on shares of Automatic Data Processing from $240.00 to $286.00 and gave the company an “equal weight” rating in a research note on Thursday. Three equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $273.50.

Automatic Data Processing Stock Performance

Shares of ADP opened at $266.46 on Monday. The firm has a 50-day moving average of $235.88 and a 200-day moving average of $224.33. Automatic Data Processing has a one year low of $188.16 and a one year high of $315.26. The company has a market cap of $106.51 billion, a PE ratio of 24.36 and a beta of 0.81. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.05 and a quick ratio of 1.04.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, July 29th. The business services provider reported $2.64 earnings per share for the quarter, topping the consensus estimate of $2.59 by $0.05. Automatic Data Processing had a net margin of 20.11% and a return on equity of 71.34%. The company had revenue of $5.47 billion for the quarter, compared to analyst estimates of $5.44 billion. During the same period in the previous year, the business earned $2.26 EPS. Automatic Data Processing’s revenue for the quarter was up 6.8% compared to the same quarter last year. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. As a group, equities analysts forecast that Automatic Data Processing will post 12.28 earnings per share for the current year.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, VP David Kwon sold 2,414 shares of the business’s stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $265.62, for a total transaction of $641,206.68. Following the completion of the transaction, the vice president directly owned 9,660 shares in the company, valued at $2,565,889.20. The trade was a 19.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.20% of the company’s stock.

Institutional Trading of Automatic Data Processing

Hedge funds and other institutional investors have recently modified their holdings of the stock. Imprint Wealth LLC bought a new position in 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 4th quarter worth about $26,000. Bard Associates Inc. bought a new position in shares of Automatic Data Processing during the fourth quarter worth about $28,000. Prosperity Bancshares Inc bought a new stake in Automatic Data Processing in the fourth quarter valued at approximately $33,000. Finally, High Point Wealth Management LLC acquired a new position in shares of Automatic Data Processing in the 4th quarter worth approximately $34,000. Institutional investors own 80.03% of the company’s stock.

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.