Citigroup Raises Automatic Data Processing (NASDAQ:ADP) Price Target to $230.00

Automatic Data Processing (NASDAQ:ADPGet Rating) had its price objective boosted by Citigroup from $212.00 to $230.00 in a research report issued on Monday, The Fly reports. Citigroup’s price target would suggest a potential upside of 0.49% from the stock’s current price.

ADP has been the subject of several other research reports. Morgan Stanley decreased their price target on shares of Automatic Data Processing from $235.00 to $225.00 and set an “equal weight” rating for the company in a research note on Thursday, January 27th. Bank of America upgraded shares of Automatic Data Processing from an “underperform” rating to a “neutral” rating and set a $223.00 target price for the company in a research report on Wednesday, March 9th. StockNews.com started coverage on shares of Automatic Data Processing in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Robert W. Baird dropped their price objective on shares of Automatic Data Processing from $242.00 to $220.00 in a research note on Thursday, January 27th. Finally, Cowen decreased their price objective on shares of Automatic Data Processing from $235.00 to $213.00 in a report on Thursday, January 27th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, Automatic Data Processing presently has an average rating of “Hold” and an average price target of $231.43.

ADP traded up $9.56 during midday trading on Monday, reaching $228.88. 1,631,479 shares of the company’s stock traded hands, compared to its average volume of 2,040,551. Automatic Data Processing has a 52 week low of $187.29 and a 52 week high of $248.96. The firm has a fifty day moving average of $220.14 and a two-hundred day moving average of $223.15. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.01 and a quick ratio of 1.04. The stock has a market capitalization of $96.14 billion, a price-to-earnings ratio of 32.82, a P/E/G ratio of 2.61 and a beta of 0.82.

Automatic Data Processing (NASDAQ:ADPGet Rating) last issued its earnings results on Wednesday, April 27th. The business services provider reported $2.21 EPS for the quarter, beating the consensus estimate of $2.08 by $0.13. Automatic Data Processing had a return on equity of 56.01% and a net margin of 17.77%. The business had revenue of $4.51 billion for the quarter, compared to the consensus estimate of $4.45 billion. During the same period last year, the business posted $1.89 EPS. The company’s revenue was up 10.0% compared to the same quarter last year. Sell-side analysts forecast that Automatic Data Processing will post 6.97 EPS for the current year.

In other news, VP Christopher D’ambrosio sold 329 shares of Automatic Data Processing stock in a transaction that occurred on Monday, February 7th. The shares were sold at an average price of $206.93, for a total value of $68,079.97. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP James T. Sperduto sold 1,671 shares of Automatic Data Processing stock in a transaction that occurred on Wednesday, February 9th. The shares were sold at an average price of $210.47, for a total transaction of $351,695.37. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,787 shares of company stock valued at $1,073,466. 0.34% of the stock is currently owned by corporate insiders.

Hedge funds have recently made changes to their positions in the stock. Pendal Group Ltd bought a new stake in shares of Automatic Data Processing in the 3rd quarter valued at about $934,000. Sandy Spring Bank boosted its holdings in shares of Automatic Data Processing by 8.4% in the 3rd quarter. Sandy Spring Bank now owns 22,681 shares of the business services provider’s stock valued at $4,534,000 after buying an additional 1,765 shares during the last quarter. Advisory Services Network LLC raised its stake in Automatic Data Processing by 3.5% in the 3rd quarter. Advisory Services Network LLC now owns 11,284 shares of the business services provider’s stock valued at $2,256,000 after acquiring an additional 379 shares during the period. Mission Wealth Management LP increased its position in Automatic Data Processing by 223.8% during the 3rd quarter. Mission Wealth Management LP now owns 6,035 shares of the business services provider’s stock worth $1,207,000 after buying an additional 4,171 shares during the period. Finally, Chilton Investment Co. LLC increased its position in Automatic Data Processing by 0.8% during the 3rd quarter. Chilton Investment Co. LLC now owns 9,480 shares of the business services provider’s stock worth $1,895,000 after buying an additional 78 shares during the period. 78.84% of the stock is currently owned by institutional investors and hedge funds.

About Automatic Data Processing (Get Rating)

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.

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