Automatic Data Processing (NASDAQ:ADP) Given New $257.00 Price Target at Mizuho

Automatic Data Processing (NASDAQ:ADPGet Rating) had its target price boosted by Mizuho from $250.00 to $257.00 in a report issued on Monday morning, The Fly reports. They currently have a maintains rating on the business services provider’s stock.

A number of other brokerages have also recently weighed in on ADP. Cowen raised their price objective on Automatic Data Processing from $225.00 to $230.00 in a report on Thursday, July 28th. Cowen raised their price objective on Automatic Data Processing from $225.00 to $230.00 in a report on Thursday, July 28th. Deutsche Bank Aktiengesellschaft raised their price objective on Automatic Data Processing from $203.00 to $234.00 in a report on Thursday, April 28th. Wolfe Research decreased their price objective on Automatic Data Processing from $235.00 to $210.00 in a report on Wednesday, July 20th. Finally, Barclays lifted their price target on Automatic Data Processing from $257.00 to $280.00 and gave the stock a maintains rating in a research note on Monday. One analyst has rated the stock with a sell rating and ten have given a hold rating to the company. Based on data from MarketBeat, Automatic Data Processing currently has a consensus rating of Hold and an average price target of $233.73.

Automatic Data Processing Stock Down 0.3 %

Shares of NASDAQ:ADP opened at $240.62 on Monday. The firm has a fifty day moving average of $216.86 and a 200 day moving average of $215.76. Automatic Data Processing has a 52-week low of $192.26 and a 52-week high of $248.96. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.01 and a current ratio of 0.99. The firm has a market capitalization of $100.52 billion, a PE ratio of 34.33, a price-to-earnings-growth ratio of 2.50 and a beta of 0.84.

Automatic Data Processing (NASDAQ:ADPGet Rating) last announced its quarterly earnings data on Wednesday, July 27th. The business services provider reported $1.50 EPS for the quarter, beating the consensus estimate of $1.47 by $0.03. The firm had revenue of $4.13 billion for the quarter, compared to analyst estimates of $4.05 billion. Automatic Data Processing had a return on equity of 66.25% and a net margin of 17.87%. The company’s revenue was up 10.5% on a year-over-year basis. During the same period in the prior year, the company earned $1.20 EPS. As a group, research analysts anticipate that Automatic Data Processing will post 8.04 EPS for the current fiscal year.

Insider Buying and Selling at Automatic Data Processing

In other news, VP Augusto J. Blanchard sold 567 shares of the business’s stock in a transaction on Tuesday, July 5th. The stock was sold at an average price of $210.64, for a total value of $119,432.88. Following the completion of the transaction, the vice president now owns 4,238 shares in the company, valued at $892,692.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Automatic Data Processing news, VP Christopher D’ambrosio sold 312 shares of Automatic Data Processing stock in a transaction that occurred on Monday, May 9th. The shares were sold at an average price of $214.07, for a total transaction of $66,789.84. Following the transaction, the vice president now owns 1,663 shares of the company’s stock, valued at $355,998.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Augusto J. Blanchard sold 567 shares of the business’s stock in a transaction on Tuesday, July 5th. The stock was sold at an average price of $210.64, for a total transaction of $119,432.88. Following the completion of the transaction, the vice president now directly owns 4,238 shares in the company, valued at approximately $892,692.32. The disclosure for this sale can be found here. 0.34% of the stock is owned by company insiders.

Hedge Funds Weigh In On Automatic Data Processing

Several hedge funds have recently modified their holdings of the stock. Sandy Cove Advisors LLC purchased a new stake in Automatic Data Processing during the fourth quarter valued at $28,000. Tortoise Investment Management LLC raised its stake in Automatic Data Processing by 70.8% during the fourth quarter. Tortoise Investment Management LLC now owns 123 shares of the business services provider’s stock valued at $30,000 after purchasing an additional 51 shares in the last quarter. Delos Wealth Advisors LLC raised its stake in Automatic Data Processing by 588.9% during the fourth quarter. Delos Wealth Advisors LLC now owns 124 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 106 shares in the last quarter. Crewe Advisors LLC purchased a new stake in shares of Automatic Data Processing in the first quarter valued at $28,000. Finally, Hexagon Capital Partners LLC purchased a new stake in shares of Automatic Data Processing in the second quarter valued at $26,000. Hedge funds and other institutional investors own 78.84% of the company’s stock.

About Automatic Data Processing

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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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