Automatic Data Processing (NASDAQ:ADP) Price Target Raised to $332.00

Automatic Data Processing (NASDAQ:ADP - Get Free Report) had its price objective hoisted by analysts at Mizuho from $321.00 to $332.00 in a report issued on Friday,Benzinga reports. The brokerage presently has an "outperform" rating on the business services provider's stock. Mizuho's target price would suggest a potential upside of 8.21% from the stock's previous close.

Several other analysts also recently issued reports on the stock. Stifel Nicolaus raised their price objective on shares of Automatic Data Processing to $305.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. UBS Group decreased their price objective on shares of Automatic Data Processing from $323.00 to $315.00 and set a "neutral" rating for the company in a research note on Friday. Royal Bank of Canada reissued a "sector perform" rating and issued a $315.00 price objective on shares of Automatic Data Processing in a research note on Thursday, June 5th. Finally, TD Securities raised their price objective on shares of Automatic Data Processing from $298.00 to $321.00 and gave the stock a "hold" rating in a research note on Wednesday, May 21st. One research analyst has rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Automatic Data Processing currently has a consensus rating of "Hold" and an average target price of $306.82.

Automatic Data Processing Price Performance

Shares of Automatic Data Processing stock traded down $2.93 during trading on Friday, reaching $306.82. 2,021,642 shares of the stock traded hands, compared to its average volume of 1,705,704. The company has a market capitalization of $124.55 billion, a price-to-earnings ratio of 31.99, a P/E/G ratio of 3.62 and a beta of 0.79. The business has a fifty day simple moving average of $308.06 and a two-hundred day simple moving average of $302.91. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00. Automatic Data Processing has a 52-week low of $231.27 and a 52-week high of $329.93.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last released 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. The company had revenue of $5.55 billion during the quarter, compared to analyst estimates of $5.49 billion. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. The firm's revenue was up 5.7% on a year-over-year basis. During the same quarter last year, the business posted $2.88 earnings per share. Sell-side analysts expect that Automatic Data Processing will post 9.93 EPS for the current year.

Insider Activity at Automatic Data Processing

In other Automatic Data Processing news, VP Christopher D'ambrosio sold 478 shares of Automatic Data Processing stock in a transaction on Thursday, April 10th. The shares were sold at an average price of $293.14, for a total value of $140,120.92. Following the transaction, the vice president now directly 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 SEC, which can be accessed through this hyperlink. Also, VP Brian L. Michaud sold 1,500 shares of Automatic Data Processing stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $305.38, for a total transaction of $458,070.00. Following the completion of the transaction, the vice president now owns 12,073 shares in the company, valued at approximately $3,686,852.74. This represents a 11.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.21% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in shares of Automatic Data Processing by 0.5% during the first quarter. Vanguard Group Inc. now owns 40,949,884 shares of the business services provider's stock worth $12,511,418,000 after acquiring an additional 218,614 shares during the period. Geode Capital Management LLC increased its stake in shares of Automatic Data Processing by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 10,583,607 shares of the business services provider's stock worth $3,098,305,000 after acquiring an additional 65,965 shares during the period. Northern Trust Corp increased its stake in shares of Automatic Data Processing by 17.1% during the fourth quarter. Northern Trust Corp now owns 6,174,419 shares of the business services provider's stock worth $1,807,438,000 after acquiring an additional 902,354 shares during the period. Capital Research Global Investors increased its stake in shares of Automatic Data Processing by 26.9% during the fourth quarter. Capital Research Global Investors now owns 6,136,763 shares of the business services provider's stock worth $1,796,415,000 after acquiring an additional 1,299,390 shares during the period. Finally, Ameriprise Financial Inc. increased its stake in shares of Automatic Data Processing by 15.7% during the first quarter. Ameriprise Financial Inc. now owns 4,431,478 shares of the business services provider's stock worth $1,348,805,000 after acquiring an additional 601,400 shares during the period. 80.03% of the stock is currently owned by institutional investors and hedge funds.

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.