Automatic Data Processing (NASDAQ:ADP) Given Buy Rating at Guggenheim

Guggenheim reissued their buy rating on shares of Automatic Data Processing (NASDAQ:ADP) in a research report report published on Tuesday,Benzinga reports. Guggenheim currently has a $270.00 target price on the business services provider’s stock.

A number of other analysts have also issued reports on ADP. Cantor Fitzgerald cut their price target on shares of Automatic Data Processing from $306.00 to $244.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 29th. Morgan Stanley lowered their price objective on shares of Automatic Data Processing from $311.00 to $274.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 28th. Robert W. Baird dropped their price objective on shares of Automatic Data Processing from $300.00 to $270.00 in a report on Thursday, April 30th. BMO Capital Markets cut their target price on shares of Automatic Data Processing from $281.00 to $234.00 and set a “market perform” rating on the stock in a research note on Tuesday, April 7th. Finally, Argus reduced their target price on shares of Automatic Data Processing from $300.00 to $240.00 and set a “buy” rating on the stock in a report on Tuesday, May 5th. Three investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $248.64.

Automatic Data Processing Trading Down 3.5%

ADP opened at $246.22 on Tuesday. Automatic Data Processing has a 52 week low of $188.16 and a 52 week high of $315.98. The business has a fifty day simple moving average of $229.52 and a 200-day simple moving average of $224.51. The firm has a market cap of $98.42 billion, a P/E ratio of 22.97 and a beta of 0.83. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.63.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, April 29th. The business services provider reported $3.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.30 by $0.07. Automatic Data Processing had a return on equity of 68.82% and a net margin of 20.12%.The firm had revenue of $5.94 billion for the quarter, compared to the consensus estimate of $5.85 billion. During the same quarter in the previous year, the business earned $3.06 EPS. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. Automatic Data Processing has set its FY 2026 guidance at 11.010-11.110 EPS. On average, equities analysts expect that Automatic Data Processing will post 11.08 earnings per share for the current year.

Institutional Investors Weigh In On Automatic Data Processing

Several institutional investors have recently modified their holdings of the company. Imprint Wealth LLC purchased a new stake in Automatic Data Processing during the 3rd quarter worth about $25,000. Cornerstone Financial Management LLC purchased a new stake in Automatic Data Processing during the fourth quarter worth approximately $26,000. Bard Associates Inc. acquired a new position in Automatic Data Processing in the fourth quarter valued at approximately $28,000. Whipplewood Advisors LLC boosted its holdings in Automatic Data Processing by 2,740.0% in the first quarter. Whipplewood Advisors LLC now owns 142 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 137 shares in the last quarter. Finally, Prosperity Bancshares Inc purchased a new position in Automatic Data Processing in the fourth quarter valued at approximately $33,000. 80.03% of the stock is owned by hedge funds and other institutional investors.

Automatic Data Processing Company Profile

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.