Evercore ISI Boosts Automatic Data Processing (NASDAQ:ADP) Price Target to $235.00

Automatic Data Processing (NASDAQ:ADP) had its price objective lifted by research analysts at Evercore ISI from $227.00 to $235.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage presently has an “underperform” rating on the business services provider’s stock. Evercore ISI’s target price suggests a potential downside of 5.37% from the stock’s previous close.

A number of other brokerages have also recently issued reports on ADP. Bank of America upgraded shares of Automatic Data Processing from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $217.00 to $243.00 in a report on Wednesday, January 17th. StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. Mizuho boosted their target price on shares of Automatic Data Processing from $265.00 to $272.00 and gave the company a “buy” rating in a research note on Monday, March 11th. Wolfe Research upgraded shares of Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a research note on Thursday, January 4th. 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 research note on Thursday, February 1st. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $253.08.

Automatic Data Processing Trading Up 1.3 %

ADP opened at $248.33 on Tuesday. Automatic Data Processing has a 1-year low of $201.46 and a 1-year high of $256.84. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.69. The company has a market cap of $102.01 billion, a P/E ratio of 28.91, a price-to-earnings-growth ratio of 2.29 and a beta of 0.78. The company has a fifty day moving average price of $246.22 and a two-hundred day moving average price of $238.91.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, January 31st. The business services provider reported $2.13 earnings per share for the quarter, beating the consensus estimate of $2.10 by $0.03. The firm had revenue of $4.67 billion during the quarter, compared to the consensus estimate of $4.65 billion. Automatic Data Processing had a net margin of 19.14% and a return on equity of 95.22%. The business’s revenue was up 6.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.96 earnings per share. Analysts predict that Automatic Data Processing will post 9.14 EPS for the current fiscal year.

Insider Buying and Selling

In related news, VP Sreenivasa Kutam sold 368 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $247.01, for a total transaction of $90,899.68. Following the sale, the vice president now owns 20,319 shares of the company’s stock, valued at approximately $5,018,996.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, VP Sreenivasa Kutam sold 368 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $247.01, for a total value of $90,899.68. Following the transaction, the vice president now owns 20,319 shares of the company’s stock, valued at approximately $5,018,996.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Don Mcguire sold 11,333 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $245.00, for a total transaction of $2,776,585.00. Following the completion of the transaction, the vice president now directly owns 19,906 shares in the company, valued at approximately $4,876,970. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,662 shares of company stock valued at $4,094,554. Company insiders own 0.26% of the company’s stock.

Hedge Funds Weigh In On Automatic Data Processing

Institutional investors have recently made changes to their positions in the stock. OFI Invest Asset Management purchased a new stake in shares of Automatic Data Processing in the 3rd quarter valued at $25,000. Aspect Partners LLC purchased a new stake in Automatic Data Processing during the 4th quarter valued at $28,000. Coppell Advisory Solutions LLC purchased a new stake in Automatic Data Processing during the 2nd quarter valued at $30,000. Strategic Investment Solutions Inc. IL purchased a new stake in Automatic Data Processing during the 1st quarter valued at $31,000. Finally, Coppell Advisory Solutions Corp. purchased a new stake in Automatic Data Processing during the 4th quarter valued at $33,000. Institutional investors own 80.03% of the company’s stock.

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.