Automatic Data Processing (NASDAQ:ADP) Price Target Raised to $290.00 at Jefferies Financial Group

Automatic Data Processing (NASDAQ:ADP) had its price objective increased by stock analysts at Jefferies Financial Group from $260.00 to $290.00 in a report released on Tuesday, Benzinga reports. The brokerage presently has a “hold” rating on the business services provider’s stock. Jefferies Financial Group’s price objective indicates a potential downside of 0.31% from the stock’s previous close.

Other analysts have also recently issued research reports about the stock. StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $267.00 price objective on shares of Automatic Data Processing in a report on Thursday, August 1st. Stifel Nicolaus increased their price objective on shares of Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Bank of America increased their price objective on shares of Automatic Data Processing from $250.00 to $267.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Finally, JPMorgan Chase & Co. increased their price objective on shares of Automatic Data Processing from $250.00 to $285.00 and gave the stock an “underweight” rating in a report on Tuesday, August 20th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Automatic Data Processing currently has a consensus rating of “Hold” and an average target price of $270.33.

Automatic Data Processing Stock Down 0.5 %

Shares of NASDAQ:ADP opened at $290.91 on Tuesday. The stock has a market capitalization of $119.07 billion, a price-to-earnings ratio of 32.47, a price-to-earnings-growth ratio of 3.13 and a beta of 0.79. Automatic Data Processing has a 1-year low of $205.53 and a 1-year high of $294.18. The company’s fifty day moving average is $277.27 and its two-hundred day moving average is $257.33. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.01 and a current ratio of 1.01.

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

Insider Activity

In other news, VP Michael A. Bonarti sold 26,442 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $270.96, for a total transaction of $7,164,724.32. Following the completion of the transaction, the vice president now owns 88,426 shares in the company, valued at approximately $23,959,908.96. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Automatic Data Processing news, VP David Kwon sold 846 shares of Automatic Data Processing 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 approximately $2,816,946. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Michael A. Bonarti sold 26,442 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $270.96, for a total value of $7,164,724.32. Following the completion of the sale, the vice president now owns 88,426 shares of the company’s stock, valued at $23,959,908.96. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 58,817 shares of company stock worth $15,999,208. Corporate insiders own 0.26% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Kiely Wealth Advisory Group Inc. purchased a new position in Automatic Data Processing during the 2nd quarter valued at about $27,000. Keener Financial Planning LLC boosted its holdings in shares of Automatic Data Processing by 230.3% during the first quarter. Keener Financial Planning LLC now owns 109 shares of the business services provider’s stock worth $28,000 after purchasing an additional 76 shares during the period. Hexagon Capital Partners LLC grew its position in Automatic Data Processing by 78.5% during the third quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider’s stock valued at $32,000 after purchasing an additional 51 shares in the last quarter. Crewe Advisors LLC acquired a new position in Automatic Data Processing in the 1st quarter valued at approximately $33,000. Finally, Pathway Financial Advisers LLC purchased a new stake in Automatic Data Processing in the 1st quarter worth approximately $36,000. 80.03% of the stock is 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.