Automatic Data Processing (ADP) Price Target Raised to $147.00

Automatic Data Processing (NASDAQ:ADP) had its price objective increased by Citigroup from $137.00 to $147.00 in a report issued on Thursday. The brokerage currently has a neutral rating on the business services provider’s stock.

ADP has been the topic of several other research reports. Wolfe Research assumed coverage on Automatic Data Processing in a research note on Tuesday, July 17th. They issued an outperform rating on the stock. Credit Suisse Group assumed coverage on Automatic Data Processing in a research note on Friday, August 10th. They issued an outperform rating and a $160.00 target price on the stock. BidaskClub lowered Automatic Data Processing from a strong-buy rating to a buy rating in a research note on Wednesday, August 1st. Zacks Investment Research lowered Automatic Data Processing from a strong-buy rating to a hold rating and set a $152.00 target price on the stock. in a research note on Thursday, July 12th. Finally, Argus increased their target price on Automatic Data Processing from $145.00 to $150.00 and gave the company a buy rating in a research note on Monday, August 13th. Nine research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average target price of $148.69.

Shares of ADP opened at $140.72 on Thursday. The company has a current ratio of 1.03, a quick ratio of 1.05 and a debt-to-equity ratio of 0.43. Automatic Data Processing has a 12-month low of $107.61 and a 12-month high of $153.51. The firm has a market cap of $61.56 billion, a PE ratio of 32.35, a PEG ratio of 2.14 and a beta of 0.91.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, October 31st. The business services provider reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.09. Automatic Data Processing had a return on equity of 50.96% and a net margin of 12.71%. The firm had revenue of $3.32 billion for the quarter, compared to analyst estimates of $3.28 billion. During the same quarter in the prior year, the firm posted $0.94 earnings per share. The company’s quarterly revenue was up 8.0% on a year-over-year basis. Research analysts anticipate that Automatic Data Processing will post 5.26 EPS for the current fiscal year.

In other news, VP Michael C. Eberhard sold 9,100 shares of the firm’s stock in a transaction dated Friday, September 21st. The stock was sold at an average price of $150.00, for a total transaction of $1,365,000.00. Following the sale, the vice president now owns 48,468 shares of the company’s stock, valued at $7,270,200. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Don Mcguire sold 1,140 shares of the firm’s stock in a transaction dated Thursday, September 6th. The stock was sold at an average price of $145.78, for a total value of $166,189.20. Following the sale, the vice president now directly owns 6,476 shares in the company, valued at approximately $944,071.28. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 15,919 shares of company stock worth $2,351,933. 0.33% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ADP. Atlantic Trust LLC bought a new position in shares of Automatic Data Processing during the second quarter worth about $104,000. Integrated Investment Consultants LLC bought a new position in shares of Automatic Data Processing during the second quarter worth about $111,000. Jolley Asset Management LLC bought a new position in shares of Automatic Data Processing during the second quarter worth about $117,000. Fort L.P. bought a new position in shares of Automatic Data Processing during the second quarter worth about $119,000. Finally, Willingdon Wealth Management grew its holdings in shares of Automatic Data Processing by 328.5% during the third quarter. Willingdon Wealth Management now owns 857 shares of the business services provider’s stock worth $129,000 after buying an additional 657 shares in the last quarter. 77.89% of the stock is currently owned by institutional investors.

Automatic Data Processing Company Profile

Automatic Data Processing, Inc provides business process outsourcing services worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO) Services. The Employer Services segment offers various human resources (HR) outsourcing and technology-based human capital management solutions.

Further Reading: Earnings Reports

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