Automatic Data Processing (NASDAQ:ADP) Price Target Raised to $295.00 at UBS Group

Automatic Data Processing (NASDAQ:ADP) had its price objective increased by investment analysts at UBS Group from $270.00 to $295.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has a “neutral” rating on the business services provider’s stock. UBS Group’s price objective indicates a potential upside of 2.04% from the company’s previous close.

ADP has been the subject of several other reports. Citigroup lifted their target price on Automatic Data Processing from $260.00 to $295.00 and gave the company a “neutral” rating in a research report on Wednesday, September 25th. Stifel Nicolaus lifted their price objective on shares of Automatic Data Processing from $271.00 to $287.00 and gave the company a “hold” rating in a report on Thursday, August 1st. StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Thursday, September 19th. JPMorgan Chase & Co. upped their price objective on Automatic Data Processing from $250.00 to $285.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 20th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $267.00 target price on shares of Automatic Data Processing in a report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $275.33.

Automatic Data Processing Trading Down 0.6 %

Shares of ADP traded down $1.82 during trading on Tuesday, reaching $289.09. 89,208 shares of the company traded hands, compared to its average volume of 1,625,754. The stock has a 50-day simple moving average of $277.27 and a 200-day simple moving average of $257.33. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.66. Automatic Data Processing has a twelve month low of $205.53 and a twelve month high of $294.18. The stock has a market cap of $118.32 billion, a PE ratio of 32.26, a price-to-earnings-growth ratio of 3.13 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, July 31st. The business services provider reported $2.09 EPS for the quarter, topping analysts’ consensus estimates of $2.06 by $0.03. Automatic Data Processing had a return on equity of 89.20% and a net margin of 19.54%. The company had revenue of $4.80 billion for the quarter, compared to analysts’ expectations of $4.74 billion. During the same period in the prior year, the firm earned $1.89 earnings per share. The firm’s revenue was up 7.2% compared to the same quarter last year. On average, analysts anticipate that Automatic Data Processing will post 10.04 earnings per share for the current year.

Insider Buying and Selling

In other Automatic Data Processing news, CEO Maria Black sold 19,147 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $274.38, for a total transaction of $5,253,553.86. Following the completion of the transaction, the chief executive officer now directly owns 92,807 shares in the company, valued at approximately $25,464,384.66. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Automatic Data Processing news, CEO Maria Black sold 19,147 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $274.38, for a total transaction of $5,253,553.86. Following the sale, the chief executive officer now directly owns 92,807 shares of the company’s stock, valued at $25,464,384.66. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP David Kwon sold 846 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $270.60, for a total transaction of $228,927.60. Following the transaction, the vice president now directly owns 10,410 shares in the company, valued at $2,816,946. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 58,817 shares of company stock valued at $15,999,208. 0.26% of the stock is owned by insiders.

Institutional Investors Weigh In On Automatic Data Processing

Hedge funds and other institutional investors have recently made changes to their positions in the business. Kiely Wealth Advisory Group Inc. acquired a new position in shares of Automatic Data Processing in the 2nd quarter valued at $27,000. Keener Financial Planning LLC raised its position in shares of Automatic Data Processing by 230.3% in the 1st quarter. Keener Financial Planning LLC now owns 109 shares of the business services provider’s stock worth $28,000 after buying an additional 76 shares during the period. Hexagon Capital Partners LLC boosted its holdings in Automatic Data Processing by 78.5% in the third quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider’s stock valued at $32,000 after acquiring an additional 51 shares during the last quarter. Crewe Advisors LLC purchased a new stake in Automatic Data Processing during the first quarter valued at about $33,000. Finally, Pathway Financial Advisers LLC acquired a new stake in Automatic Data Processing during the first quarter worth about $36,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

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.