BMO Capital Markets Begins Coverage on Automatic Data Processing (NASDAQ:ADP)

BMO Capital Markets assumed coverage on shares of Automatic Data Processing (NASDAQ:ADP - Free Report) in a report published on Thursday,Benzinga reports. The firm issued a market perform rating and a $340.00 price objective on the business services provider's stock.

Other research analysts have also issued reports about the stock. Mizuho raised their target price on shares of Automatic Data Processing from $321.00 to $332.00 and gave the company an "outperform" rating in a report on Friday, June 13th. Morgan Stanley lifted their price objective on shares of Automatic Data Processing from $305.00 to $310.00 and gave the stock an "equal weight" rating in a research note on Tuesday, June 17th. UBS Group reduced their target price on shares of Automatic Data Processing from $323.00 to $315.00 and set a "neutral" rating on the stock in a report on Friday, June 13th. TD Securities increased their price target on shares of Automatic Data Processing from $298.00 to $321.00 and gave the company a "hold" rating in a report on Wednesday, May 21st. Finally, Stifel Nicolaus lifted their price target on Automatic Data Processing to $305.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $309.62.

Automatic Data Processing Price Performance

Shares of NASDAQ ADP traded down $2.59 during mid-day trading on Thursday, reaching $305.82. The company's stock had a trading volume of 1,421,528 shares, compared to its average volume of 1,713,717. The firm has a market capitalization of $124.14 billion, a PE ratio of 31.37, a P/E/G ratio of 2.82 and a beta of 0.76. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.02 and a quick ratio of 1.02. The stock has a fifty day moving average of $312.88 and a two-hundred day moving average of $303.77. Automatic Data Processing has a 52 week low of $233.14 and a 52 week high of $329.93.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The business services provider reported $3.06 EPS for the quarter, topping the consensus estimate of $2.97 by $0.09. Automatic Data Processing had a net margin of 19.79% and a return on equity of 77.33%. The business had revenue of $5.55 billion for the quarter, compared to analysts' expectations of $5.49 billion. During the same quarter in the previous year, the company earned $2.88 EPS. The business's quarterly revenue was up 5.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Automatic Data Processing will post 9.93 EPS for the current fiscal year.

Institutional Investors Weigh In On Automatic Data Processing

Institutional investors and hedge funds have recently modified their holdings of the business. Activest Wealth Management boosted its stake in shares of Automatic Data Processing by 2,600.0% during the first quarter. Activest Wealth Management now owns 81 shares of the business services provider's stock valued at $25,000 after purchasing an additional 78 shares during the period. Clarity Asset Management Inc. bought a new stake in Automatic Data Processing during the 1st quarter valued at about $29,000. von Borstel & Associates Inc. purchased a new stake in Automatic Data Processing in the 1st quarter valued at about $30,000. Main Street Group LTD grew its stake in Automatic Data Processing by 50.7% in the 4th quarter. Main Street Group LTD now owns 113 shares of the business services provider's stock worth $33,000 after acquiring an additional 38 shares in the last quarter. Finally, Y.D. More Investments Ltd purchased a new position in shares of Automatic Data Processing during the first quarter worth approximately $35,000. 80.03% of the stock is owned by institutional investors.

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.