Automatic Data Processing (NASDAQ:ADP) Price Target Cut to $144.00

Automatic Data Processing (NASDAQ:ADP) had its price target dropped by analysts at Citigroup from $148.00 to $144.00 in a report released on Thursday, BenzingaRatingsTable reports. The firm currently has a “neutral” rating on the business services provider’s stock. Citigroup‘s target price suggests a potential upside of 8.34% from the stock’s current price.

Several other analysts have also recently issued reports on the company. Goldman Sachs Group began coverage on Automatic Data Processing in a research note on Tuesday, July 14th. They issued a “sell” rating and a $146.00 price objective on the stock. BMO Capital Markets cut their price target on Automatic Data Processing from $179.00 to $154.00 and set a “market perform” rating on the stock in a research note on Thursday, April 30th. Bank of America cut Automatic Data Processing from a “neutral” rating to an “underperform” rating and set a $132.00 price target on the stock. in a research note on Monday, May 18th. Stifel Nicolaus raised their price target on Automatic Data Processing from $150.00 to $155.00 and gave the company a “hold” rating in a research note on Thursday, April 30th. Finally, Cfra cut their price target on Automatic Data Processing from $176.00 to $161.00 and set a “hold” rating on the stock in a research note on Wednesday, April 29th. Five investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the company’s stock. Automatic Data Processing has an average rating of “Hold” and an average price target of $158.93.

Shares of Automatic Data Processing stock opened at $132.91 on Thursday. The firm has a market capitalization of $57.11 billion, a price-to-earnings ratio of 23.32, a PEG ratio of 2.22 and a beta of 0.82. Automatic Data Processing has a fifty-two week low of $103.11 and a fifty-two week high of $182.32. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.03 and a current ratio of 1.05. The stock has a 50 day moving average of $147.29 and a 200 day moving average of $150.95.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, July 29th. The business services provider reported $1.14 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.18. Automatic Data Processing had a return on equity of 46.66% and a net margin of 16.91%. The company had revenue of $3.40 billion during the quarter, compared to analyst estimates of $3.32 billion. During the same period in the prior year, the business posted $1.14 earnings per share. The firm’s revenue for the quarter was down 2.8% compared to the same quarter last year. Analysts forecast that Automatic Data Processing will post 4.99 EPS for the current year.

In other Automatic Data Processing news, VP Brian L. Michaud sold 250 shares of Automatic Data Processing stock in a transaction that occurred on Friday, July 10th. The stock was sold at an average price of $145.00, for a total value of $36,250.00. Following the sale, the vice president now owns 5,162 shares of the company’s stock, valued at approximately $748,490. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.31% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in ADP. Creative Financial Designs Inc. ADV acquired a new stake in Automatic Data Processing during the first quarter worth about $27,000. Paragon Capital Management LLC purchased a new stake in Automatic Data Processing in the 1st quarter worth approximately $27,000. Horan Securities Inc. bought a new position in shares of Automatic Data Processing during the 1st quarter valued at $33,000. Front Row Advisors LLC raised its holdings in shares of Automatic Data Processing by 118.9% during the 1st quarter. Front Row Advisors LLC now owns 267 shares of the business services provider’s stock valued at $39,000 after purchasing an additional 145 shares in the last quarter. Finally, Financial Management Professionals Inc. grew its stake in Automatic Data Processing by 28,100.0% in the 2nd quarter. Financial Management Professionals Inc. now owns 282 shares of the business services provider’s stock valued at $42,000 after buying an additional 281 shares during the last quarter. 79.82% of the stock is currently owned by institutional investors.

Automatic Data Processing Company Profile

Automatic Data Processing, Inc provides business process outsourcing services worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO) Services. The Employer Services segment offers various human resources (HR) outsourcing and technology-based human capital management solutions.

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Analyst Recommendations for Automatic Data Processing (NASDAQ:ADP)

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