Automatic Data Processing (NASDAQ:ADP) Price Target Raised to $310.00 at Morgan Stanley

Automatic Data Processing (NASDAQ:ADP - Get Free Report) had its price target hoisted by analysts at Morgan Stanley from $305.00 to $310.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an "equal weight" rating on the business services provider's stock. Morgan Stanley's target price indicates a potential upside of 0.35% from the company's previous close.

Other equities research analysts have also issued reports about the stock. TD Securities upped 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. UBS Group lowered their price target on Automatic Data Processing from $323.00 to $315.00 and set a "neutral" rating on the stock in a research report on Friday. Stifel Nicolaus upped their target price on Automatic Data Processing to $305.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Royal Bank of Canada reiterated a "sector perform" rating and set a $315.00 target price on shares of Automatic Data Processing in a research report on Thursday, June 5th. Finally, Mizuho boosted their price target on shares of Automatic Data Processing from $321.00 to $332.00 and gave the stock an "outperform" rating in a report on Friday. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $307.08.

Automatic Data Processing Stock Up 0.3%

Automatic Data Processing stock traded up $1.02 during mid-day trading on Tuesday, reaching $308.93. 654,134 shares of the company were exchanged, compared to its average volume of 1,703,657. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a market cap of $125.40 billion, a P/E ratio of 32.20, a PEG ratio of 3.62 and a beta of 0.79. The business has a fifty day moving average of $308.69 and a 200 day moving average of $302.86. Automatic Data Processing has a 12-month low of $231.27 and a 12-month high of $329.93.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last posted its earnings results on Wednesday, April 30th. The business services provider reported $3.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.97 by $0.09. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. The company had revenue of $5.55 billion for the quarter, compared to analyst estimates of $5.49 billion. During the same quarter in the previous year, the firm earned $2.88 earnings per share. The firm's quarterly revenue was up 5.7% compared to the same quarter last year. Research analysts anticipate that Automatic Data Processing will post 9.93 earnings per share for the current fiscal year.

Insider Transactions at Automatic Data Processing

In other news, VP Christopher D'ambrosio sold 478 shares of Automatic Data Processing stock in a transaction dated Thursday, April 10th. The stock was sold at an average price of $293.14, for a total transaction of $140,120.92. Following the sale, the vice president now owns 7,364 shares in the company, valued at approximately $2,158,682.96. The trade was a 6.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Brian L. Michaud sold 1,500 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $305.38, for a total value of $458,070.00. Following the completion of the sale, the vice president now directly owns 12,073 shares of the company's stock, valued at $3,686,852.74. The trade was a 11.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company's stock.

Institutional Investors Weigh In On Automatic Data Processing

A number of hedge funds have recently added to or reduced their stakes in the company. Activest Wealth Management lifted its stake in shares of Automatic Data Processing by 2,600.0% in 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. purchased a new stake in Automatic Data Processing during the first quarter worth $29,000. von Borstel & Associates Inc. acquired a new position in shares of Automatic Data Processing during the 1st quarter worth $30,000. Main Street Group LTD boosted its position in shares of 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 buying an additional 38 shares in the last quarter. Finally, Y.D. More Investments Ltd acquired a new stake in Automatic Data Processing in the 1st quarter valued at about $35,000. Institutional investors and hedge funds 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.