Automatic Data Processing (NASDAQ:ADP) PT Lowered to $251.00 at TD Cowen

Automatic Data Processing (NASDAQ:ADP - Get Free Report) had its price target cut by analysts at TD Cowen from $253.00 to $251.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has a "hold" rating on the business services provider's stock. TD Cowen's price target suggests a potential upside of 3.71% from the stock's current price.

Other analysts also recently issued reports about the company. Barclays increased their price target on Automatic Data Processing from $280.00 to $282.00 and gave the company an "overweight" rating in a report on Thursday. JPMorgan Chase & Co. lowered their price target on Automatic Data Processing from $254.00 to $250.00 and set an "underweight" rating for the company in a report on Thursday. StockNews.com downgraded Automatic Data Processing from a "buy" rating to a "hold" rating in a report on Tuesday, March 19th. Wolfe Research raised shares of Automatic Data Processing from an "underperform" rating to a "peer perform" rating in a research report on Thursday, January 4th. Finally, Royal Bank of Canada reissued a "sector perform" rating and issued a $267.00 price objective on shares of Automatic Data Processing in a research report on Thursday, February 1st. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $255.42.

Automatic Data Processing Trading Down 2.1 %

ADP traded down $5.30 during trading on Thursday, hitting $242.03. The company's stock had a trading volume of 1,781,121 shares, compared to its average volume of 1,798,777. The stock has a market cap of $99.42 billion, a PE ratio of 28.18, a PEG ratio of 2.27 and a beta of 0.78. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.01 and a quick ratio of 1.01. The firm's 50 day moving average price is $245.91 and its 200-day moving average price is $239.13. Automatic Data Processing has a twelve month low of $205.53 and a twelve month high of $256.84.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last released its quarterly earnings data on Wednesday, May 1st. The business services provider reported $2.88 EPS for the quarter, topping analysts' consensus estimates of $2.79 by $0.09. The business had revenue of $5.30 billion during the quarter, compared to the consensus estimate of $5.22 billion. Automatic Data Processing had a return on equity of 95.22% and a net margin of 19.14%. The business's revenue for the quarter was up 7.6% on a year-over-year basis. During the same period in the prior year, the firm posted $2.52 EPS. On average, analysts expect that Automatic Data Processing will post 9.14 earnings per share for the current year.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, VP David Kwon sold 863 shares of the firm's stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $250.00, for a total value of $215,750.00. Following the sale, the vice president now owns 8,285 shares in the company, valued at $2,071,250. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Joseph Desilva sold 1,904 shares of the firm's stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $255.00, for a total transaction of $485,520.00. Following the transaction, the vice president now owns 17,179 shares in the company, valued at $4,380,645. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP David Kwon sold 863 shares of the firm's stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $250.00, for a total transaction of $215,750.00. Following the transaction, the vice president now owns 8,285 shares in the company, valued at approximately $2,071,250. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,829 shares of company stock worth $965,274. 0.26% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Ardent Capital Management Inc. bought a new stake in Automatic Data Processing during the third quarter worth approximately $392,000. Americana Partners LLC boosted its holdings in Automatic Data Processing by 3.1% during the third quarter. Americana Partners LLC now owns 22,228 shares of the business services provider's stock worth $5,330,000 after buying an additional 660 shares in the last quarter. Everence Capital Management Inc. boosted its holdings in Automatic Data Processing by 28.5% during the fourth quarter. Everence Capital Management Inc. now owns 17,150 shares of the business services provider's stock worth $3,995,000 after buying an additional 3,800 shares in the last quarter. Cyndeo Wealth Partners LLC boosted its holdings in Automatic Data Processing by 36.7% during the fourth quarter. Cyndeo Wealth Partners LLC now owns 19,800 shares of the business services provider's stock worth $4,613,000 after buying an additional 5,318 shares in the last quarter. Finally, BKM Wealth Management LLC bought a new stake in Automatic Data Processing during the fourth quarter worth approximately $1,635,000. 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.