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

Automatic Data Processing (NASDAQ:ADP) had its price objective hoisted by investment analysts at Jefferies Financial Group from $260.00 to $290.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has a “hold” rating on the business services provider’s stock. Jefferies Financial Group’s price objective suggests a potential downside of 0.01% from the stock’s current price.

A number of other brokerages have also recently issued reports on ADP. Royal Bank of Canada reiterated a “sector perform” rating and issued a $267.00 price objective on shares of Automatic Data Processing in a report on Thursday, August 1st. StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. Barclays raised their price target on Automatic Data Processing from $282.00 to $310.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. JPMorgan Chase & Co. increased their target price on Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a research note on Tuesday, August 20th. Finally, Stifel Nicolaus lifted their price target on Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $275.33.

Automatic Data Processing Price Performance

Shares of NASDAQ:ADP opened at $290.04 on Tuesday. Automatic Data Processing has a 12-month low of $205.53 and a 12-month high of $294.18. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.66. The company has a market cap of $118.71 billion, a P/E ratio of 32.37, a price-to-earnings-growth ratio of 3.13 and a beta of 0.79. The company’s fifty day moving average is $278.40 and its two-hundred day moving average is $257.89.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, July 31st. The business services provider reported $2.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.06 by $0.03. Automatic Data Processing had a net margin of 19.54% and a return on equity of 89.20%. The business had revenue of $4.80 billion during the quarter, compared to analyst estimates 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. Equities analysts expect that Automatic Data Processing will post 10.04 earnings per share for the current fiscal year.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, VP David Kwon sold 846 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $270.60, for a total value of $228,927.60. Following the sale, the vice president now directly owns 10,410 shares in the company, valued at approximately $2,816,946. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, VP Michael A. Bonarti sold 26,442 shares of Automatic Data Processing stock in a transaction that occurred on Monday, August 26th. The stock was 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 directly owns 88,426 shares in the company, valued at approximately $23,959,908.96. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP David Kwon sold 846 shares of the company’s stock in a transaction 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 completion of the transaction, the vice president now owns 10,410 shares in the company, valued at approximately $2,816,946. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 58,817 shares of company stock worth $15,999,208. Insiders own 0.26% of the company’s stock.

Institutional Investors Weigh In On Automatic Data Processing

Large investors have recently bought and sold shares of the company. Kiely Wealth Advisory Group Inc. acquired a new position in shares of Automatic Data Processing in the second quarter worth approximately $27,000. Keener Financial Planning LLC raised its stake 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 worth $28,000 after purchasing an additional 76 shares during the last quarter. Hexagon Capital Partners LLC lifted its stake in Automatic Data Processing by 78.5% during the 3rd 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 in the last quarter. Crewe Advisors LLC bought a new position in shares of Automatic Data Processing during the first quarter valued at about $33,000. Finally, Pathway Financial Advisers LLC bought a new position in shares of Automatic Data Processing during the 1st quarter worth approximately $36,000. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Automatic Data Processing Company Profile

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.