Barclays Boosts Automatic Data Processing (NASDAQ:ADP) Price Target to $282.00

Automatic Data Processing (NASDAQ:ADP) had its price objective boosted by equities research analysts at Barclays from $280.00 to $282.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the business services provider’s stock. Barclays‘s target price suggests a potential upside of 16.58% from the company’s previous close.

Several other equities analysts have also weighed in on ADP. Royal Bank of Canada restated a “sector perform” rating and set a $267.00 price objective on shares of Automatic Data Processing in a research report on Thursday, February 1st. Wolfe Research raised shares of Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a research report on Thursday, January 4th. Bank of America upgraded shares of Automatic Data Processing from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $217.00 to $243.00 in a research note on Wednesday, January 17th. Evercore ISI lifted their target price on shares of Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a research note on Tuesday, March 26th. Finally, StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $255.42.

Automatic Data Processing Stock Down 0.1 %

Automatic Data Processing stock opened at $241.89 on Thursday. The stock has a market cap of $99.37 billion, a price-to-earnings ratio of 27.00, a PEG ratio of 2.32 and a beta of 0.78. 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 company’s 50-day moving average price is $245.91 and its two-hundred day moving average price is $239.13. Automatic Data Processing has a 52 week low of $205.53 and a 52 week high of $256.84.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, May 1st. The business services provider reported $2.88 EPS for the quarter, beating the consensus estimate of $2.79 by $0.09. The firm had revenue of $5.30 billion for the quarter, compared to analysts’ expectations of $5.22 billion. Automatic Data Processing had a net margin of 19.56% and a return on equity of 93.09%. Automatic Data Processing’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter last year, the company earned $2.52 EPS. On average, analysts expect that Automatic Data Processing will post 9.15 EPS for the current fiscal year.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, VP Joseph Desilva sold 1,904 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $255.00, for a total transaction of $485,520.00. Following the transaction, the vice president now directly owns 17,179 shares in the company, valued at approximately $4,380,645. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, VP Joseph Desilva sold 1,904 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $255.00, for a total value of $485,520.00. Following the sale, the vice president now directly owns 17,179 shares in the company, valued at approximately $4,380,645. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Sreenivasa Kutam sold 368 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $247.01, for a total transaction of $90,899.68. Following the completion of the sale, the vice president now owns 20,319 shares in the company, valued at $5,018,996.19. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,829 shares of company stock worth $965,274. Company insiders own 0.26% of the company’s stock.

Institutional Trading of Automatic Data Processing

A number of hedge funds have recently modified their holdings of the company. Ardent Capital Management Inc. bought a new stake in Automatic Data Processing during the 3rd quarter worth approximately $392,000. Americana Partners LLC increased its stake in Automatic Data Processing by 3.1% during the 3rd quarter. Americana Partners LLC now owns 22,228 shares of the business services provider’s stock worth $5,330,000 after purchasing an additional 660 shares in the last quarter. Everence Capital Management Inc. increased its stake in Automatic Data Processing by 28.5% during the 4th quarter. Everence Capital Management Inc. now owns 17,150 shares of the business services provider’s stock worth $3,995,000 after purchasing an additional 3,800 shares in the last quarter. Cyndeo Wealth Partners LLC increased its stake in Automatic Data Processing by 36.7% during the 4th quarter. Cyndeo Wealth Partners LLC now owns 19,800 shares of the business services provider’s stock worth $4,613,000 after purchasing an additional 5,318 shares in the last quarter. Finally, BKM Wealth Management LLC bought a new stake in Automatic Data Processing during the 4th quarter worth approximately $1,635,000. 80.03% of the stock is currently owned by institutional investors and hedge funds.

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.