Automatic Data Processing (NASDAQ:ADP) Stock Price Target Raised at Cantor Fitzgerald

Automatic Data Processing (NASDAQ:ADP) had its price objective raised by Cantor Fitzgerald from $310.00 to $336.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the business services provider’s stock. Cantor Fitzgerald‘s price target would indicate a potential upside of 14.35% from the stock’s previous close.

Other research analysts have also issued reports about the company. Citigroup increased their target price on Automatic Data Processing from $287.00 to $295.00 and gave the stock a “neutral” rating in a research report on Thursday. Guggenheim restated a “buy” rating and set a $340.00 price target on shares of Automatic Data Processing in a research note on Thursday. UBS Group raised their price objective on Automatic Data Processing from $260.00 to $270.00 and gave the stock a “neutral” rating in a report on Wednesday, July 22nd. Stifel Nicolaus lifted their price objective on Automatic Data Processing from $285.00 to $305.00 and gave the company a “hold” rating in a research note on Thursday. Finally, Weiss Ratings upgraded Automatic Data Processing from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, September 22nd. Three analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Automatic Data Processing currently has an average rating of “Hold” and an average price target of $285.00.

Automatic Data Processing Price Performance

Automatic Data Processing stock opened at $293.84 on Friday. The business’s 50-day simple moving average is $277.25 and its two-hundred day simple moving average is $240.83. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.05 and a current ratio of 1.03. The company has a market cap of $116.43 billion, a PE ratio of 26.05, a PEG ratio of 2.64 and a beta of 0.83. Automatic Data Processing has a fifty-two week low of $188.16 and a fifty-two week high of $309.40.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, October 28th. The business services provider reported $2.82 EPS for the quarter, topping analysts’ consensus estimates of $2.77 by $0.05. The company had revenue of $5.49 billion for the quarter, compared to the consensus estimate of $5.48 billion. Automatic Data Processing had a net margin of 20.33% and a return on equity of 77.01%. Automatic Data Processing’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.49 earnings per share. Equities analysts anticipate that Automatic Data Processing will post 12.36 EPS for the current year.

Insider Activity

In related news, VP Joseph Desilva sold 631 shares of the firm’s stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $282.87, for a total value of $178,490.97. Following the completion of the sale, the vice president directly owned 18,824 shares in the company, valued at approximately $5,324,744.88. This trade represents a 3.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP David Kwon sold 798 shares of the business’s stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $280.00, for a total value of $223,440.00. Following the sale, the vice president owned 13,193 shares in the company, valued at $3,694,040. This represents a 5.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 31,359 shares of company stock worth $8,809,422 in the last ninety days. Company insiders own 0.15% of the company’s stock.

Institutional Trading of Automatic Data Processing

A number of institutional investors and hedge funds have recently modified their holdings of the business. Polaris Financial Partners purchased a new position in shares of Automatic Data Processing during the third quarter valued at approximately $25,000. Next Level Wealth Planning LLC bought a new position in Automatic Data Processing during the third quarter valued at approximately $26,000. Whipplewood Advisors LLC boosted its holdings in Automatic Data Processing by 2,740.0% in the first quarter. Whipplewood Advisors LLC now owns 142 shares of the business services provider’s stock worth $29,000 after purchasing an additional 137 shares during the last quarter. Pathway Financial Advisers LLC purchased a new stake in Automatic Data Processing in the third quarter worth approximately $39,000. Finally, Kelly Lawrence W & Associates Inc. CA purchased a new position in shares of Automatic Data Processing in the 2nd quarter worth $34,000. Institutional investors own 80.03% of the company’s stock.

About Automatic Data Processing

Automatic Data Processing, Inc (NASDAQ: ADP) is a global provider of human capital management and business outsourcing solutions. The company helps employers manage payroll, human resources, workforce administration, benefits, tax compliance, time and attendance, talent management, and related employment processes.

ADP offers cloud-based platforms and services designed for businesses of various sizes, from small enterprises to large organizations. Its portfolio includes payroll processing, human resources management, employee benefits administration, retirement services, workforce management, data analytics, and professional employer organization services through ADP TotalSource.

Founded in 1949, ADP serves businesses in the United States and international markets.