Brokerages Set Automatic Data Processing, Inc. (NASDAQ:ADP) PT at $255.42

Automatic Data Processing, Inc. (NASDAQ:ADP) has earned a consensus rating of “Hold” from the eleven ratings firms that are presently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and two have given a buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $255.42.

ADP has been the topic of several research analyst reports. Evercore ISI upped their price objective on shares of Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a research report on Tuesday, March 26th. JPMorgan Chase & Co. lowered their price objective on shares of Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating on the stock in a research report on Thursday, May 2nd. Barclays lifted their price objective on shares of Automatic Data Processing from $280.00 to $282.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. TD Cowen lowered their price target on Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating on the stock in a research report on Thursday, May 2nd. Finally, StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Tuesday.

Automatic Data Processing Stock Performance

Automatic Data Processing stock opened at $236.91 on Thursday. The firm’s 50 day simple moving average is $245.37 and its 200 day simple moving average is $243.88. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.65. Automatic Data Processing has a 1-year low of $205.53 and a 1-year high of $256.84. The firm has a market capitalization of $96.96 billion, a PE ratio of 26.45, a price-to-earnings-growth ratio of 2.62 and a beta of 0.78.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, May 1st. The business services provider reported $2.88 earnings per share for the quarter, topping the consensus estimate of $2.79 by $0.09. Automatic Data Processing had a net margin of 19.56% and a return on equity of 93.09%. The firm had revenue of $5.30 billion for the quarter, compared to analysts’ expectations of $5.22 billion. During the same quarter in the prior year, the firm posted $2.52 earnings per share. The business’s quarterly revenue was up 7.6% on a year-over-year basis. As a group, analysts expect that Automatic Data Processing will post 9.16 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Keener Financial Planning LLC increased its position in shares of Automatic Data Processing by 230.3% in the first quarter. Keener Financial Planning LLC now owns 109 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 76 shares during the period. Crewe Advisors LLC purchased a new position in Automatic Data Processing during the 1st quarter valued at about $33,000. Fortitude Family Office LLC bought a new position in Automatic Data Processing during the 4th quarter valued at approximately $35,000. Pathway Financial Advisers LLC purchased a new stake in Automatic Data Processing in the 1st quarter worth approximately $36,000. Finally, Pineridge Advisors LLC purchased a new position in shares of Automatic Data Processing during the fourth quarter valued at approximately $39,000. 80.03% of the stock is owned by hedge funds and other institutional investors.

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.