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

Automatic Data Processing (NASDAQ:ADP) had its target price increased by stock analysts at Jefferies Financial Group from $260.00 to $290.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm currently has a “hold” rating on the business services provider’s stock. Jefferies Financial Group’s price objective points to a potential downside of 0.31% from the company’s previous close.

ADP has been the topic of a number of other research reports. Stifel Nicolaus raised their price target on shares of Automatic Data Processing from $271.00 to $287.00 and gave the company a “hold” rating in a report on Thursday, August 1st. StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. Citigroup raised their price target on shares of Automatic Data Processing from $260.00 to $295.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. JPMorgan Chase & Co. raised their price target on shares of Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a report on Tuesday, August 20th. Finally, Barclays raised their price target on shares of Automatic Data Processing from $282.00 to $310.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $270.33.

Automatic Data Processing Stock Down 0.5 %

ADP stock opened at $290.91 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 $119.07 billion, a price-to-earnings ratio of 32.47, a PEG ratio of 3.13 and a beta of 0.79. The company has a 50 day moving average of $277.27 and a two-hundred day moving average of $257.33.

Automatic Data Processing (NASDAQ:ADP) last released its 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. The company had revenue of $4.80 billion during the quarter, compared to the consensus estimate of $4.74 billion. Automatic Data Processing had a net margin of 19.54% and a return on equity of 89.20%. The company’s revenue was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.89 EPS. On average, equities analysts anticipate that Automatic Data Processing will post 10.04 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Automatic Data Processing news, VP Michael A. Bonarti sold 26,442 shares of the firm’s 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 sale, the vice president now directly owns 88,426 shares in the company, valued at $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 available at the SEC website. In other news, VP Michael A. Bonarti sold 26,442 shares of Automatic Data Processing 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 sale, 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, VP David Kwon sold 846 shares of Automatic Data Processing stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $270.60, for a total transaction of $228,927.60. Following the sale, the vice president now 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 disclosure for this sale can be found here. Insiders have sold 58,817 shares of company stock worth $15,999,208 in the last ninety days. Insiders own 0.26% of the company’s stock.

Institutional Trading of Automatic Data Processing

Several institutional investors have recently made changes to their positions in the business. Thompson Investment Management Inc. lifted its holdings in Automatic Data Processing by 13.5% during the 1st quarter. Thompson Investment Management Inc. now owns 1,234 shares of the business services provider’s stock valued at $308,000 after purchasing an additional 147 shares during the last quarter. Kingswood Wealth Advisors LLC lifted its holdings in Automatic Data Processing by 40.3% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 4,561 shares of the business services provider’s stock valued at $1,139,000 after purchasing an additional 1,310 shares during the last quarter. Brookstone Capital Management lifted its holdings in Automatic Data Processing by 8.9% during the 1st quarter. Brookstone Capital Management now owns 15,752 shares of the business services provider’s stock valued at $3,934,000 after purchasing an additional 1,284 shares during the last quarter. GoalVest Advisory LLC lifted its holdings in Automatic Data Processing by 188.7% during the 1st quarter. GoalVest Advisory LLC now owns 306 shares of the business services provider’s stock valued at $76,000 after purchasing an additional 200 shares during the last quarter. Finally, Signet Financial Management LLC lifted its holdings in Automatic Data Processing by 4.1% during the 1st quarter. Signet Financial Management LLC now owns 3,223 shares of the business services provider’s stock valued at $805,000 after purchasing an additional 126 shares during the last quarter. 80.03% of the stock is currently 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.