Stifel Nicolaus Increases Automatic Data Processing (NASDAQ:ADP) Price Target to $318.00

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Automatic Data Processing (NASDAQ:ADP - Get Free Report) had its price target upped by investment analysts at Stifel Nicolaus from $305.00 to $318.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a "hold" rating on the business services provider's stock. Stifel Nicolaus' target price would suggest a potential upside of 5.84% from the stock's previous close.

A number of other research analysts have also issued reports on the stock. UBS Group cut their price target on shares of Automatic Data Processing from $323.00 to $315.00 and set a "neutral" rating on the stock in a research note on Friday, June 13th. Mizuho upped their price target on shares of Automatic Data Processing from $321.00 to $332.00 and gave the company an "outperform" rating in a research note on Friday, June 13th. 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 research note on Wednesday, May 21st. BMO Capital Markets upgraded shares of Automatic Data Processing to a "hold" rating and set a $340.00 price target on the stock in a research note on Thursday, July 10th. Finally, Morgan Stanley upped their price objective on shares of Automatic Data Processing from $310.00 to $311.00 and gave the company an "equal weight" rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $314.33.

Automatic Data Processing Stock Down 2.9%

Shares of NASDAQ ADP traded down $9.06 during trading hours on Thursday, hitting $300.44. 1,791,558 shares of the stock were exchanged, compared to its average volume of 1,385,865. The company has a quick ratio of 1.02, a current ratio of 1.05 and a debt-to-equity ratio of 0.64. The company has a market cap of $121.95 billion, a PE ratio of 30.10, a PEG ratio of 2.84 and a beta of 0.81. The firm has a fifty day moving average price of $310.28 and a 200-day moving average price of $305.18. Automatic Data Processing has a 12 month low of $256.47 and a 12 month high of $329.93.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The business services provider reported $2.26 EPS for the quarter, topping the consensus estimate of $2.23 by $0.03. The firm had revenue of $5.13 billion during the quarter, compared to analyst estimates of $5.05 billion. Automatic Data Processing had a net margin of 19.84% and a return on equity of 72.84%. Automatic Data Processing's revenue was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.09 EPS. On average, sell-side analysts expect that Automatic Data Processing will post 9.93 EPS for the current year.

Hedge Funds Weigh In On Automatic Data Processing

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ADP. Activest Wealth Management raised its position 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 buying an additional 78 shares during the last quarter. Mid American Wealth Advisory Group Inc. acquired a new stake in shares of Automatic Data Processing during the second quarter valued at about $26,000. Harbor Asset Planning Inc. acquired a new stake in shares of Automatic Data Processing during the second quarter valued at about $26,000. Solstein Capital LLC acquired a new stake in shares of Automatic Data Processing during the second quarter valued at about $28,000. Finally, Clarity Asset Management Inc. acquired a new stake in shares of Automatic Data Processing during the first quarter valued at about $29,000. 80.03% of the stock is owned by hedge funds and other 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.