JPMorgan Chase & Co. Lowers Automatic Data Processing (NASDAQ:ADP) Price Target to $250.00

Automatic Data Processing (NASDAQ:ADP) had its target price lowered by equities researchers at JPMorgan Chase & Co. from $254.00 to $250.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has an “underweight” rating on the business services provider’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 3.35% from the company’s current price.

A number of other research firms have also recently weighed in on ADP. Wolfe Research raised shares of Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a report on Thursday, January 4th. StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Royal Bank of Canada restated 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. Mizuho upped their target price on Automatic Data Processing from $265.00 to $272.00 and gave the stock a “buy” rating in a research note on Monday, March 11th. Finally, Evercore ISI lifted their price target on shares of Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a research note on Tuesday, March 26th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Automatic Data Processing currently has a consensus rating of “Hold” and an average price target of $255.42.

Automatic Data Processing Stock Performance

Shares of ADP opened at $241.89 on Thursday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.65. The firm has a market cap of $99.37 billion, a PE ratio of 27.00, a P/E/G ratio of 2.32 and a beta of 0.78. The stock has a fifty day moving average price of $245.91 and a 200-day moving average price of $239.13. Automatic Data Processing has a 12 month low of $205.53 and a 12 month high of $256.84.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, May 1st. The business services provider reported $2.88 earnings per share for the quarter, beating analysts’ consensus estimates of $2.79 by $0.09. The business had revenue of $5.30 billion for the quarter, compared to analyst estimates of $5.22 billion. Automatic Data Processing had a return on equity of 93.09% and a net margin of 19.56%. The company’s revenue was up 7.6% on a year-over-year basis. During the same period in the prior year, the company earned $2.52 earnings per share. Equities research analysts predict that Automatic Data Processing will post 9.15 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, VP Sreenivasa Kutam sold 368 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $247.01, for a total transaction of $90,899.68. Following the sale, the vice president now directly owns 20,319 shares in the company, valued at $5,018,996.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, VP Sreenivasa Kutam sold 368 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $247.01, for a total value of $90,899.68. Following the completion of the transaction, the vice president now owns 20,319 shares in the company, valued at approximately $5,018,996.19. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP David Kwon sold 863 shares of Automatic Data Processing stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $250.00, for a total transaction of $215,750.00. Following the sale, the vice president now owns 8,285 shares in the company, valued at $2,071,250. The disclosure for this sale can be found here. Insiders sold a total of 3,829 shares of company stock worth $965,274 over the last 90 days. Corporate insiders own 0.26% of the company’s stock.

Institutional Trading of Automatic Data Processing

Large investors have recently bought and sold shares of the business. Heritage Investment Group Inc. lifted its stake in shares of Automatic Data Processing by 1.9% in the fourth quarter. Heritage Investment Group Inc. now owns 2,201 shares of the business services provider’s stock worth $513,000 after buying an additional 41 shares during the last quarter. Bedel Financial Consulting Inc. raised its holdings in Automatic Data Processing by 0.8% in the 4th quarter. Bedel Financial Consulting Inc. now owns 5,254 shares of the business services provider’s stock worth $1,224,000 after acquiring an additional 42 shares during the period. Argus Investors Counsel Inc. lifted its position in Automatic Data Processing by 0.5% during the 4th quarter. Argus Investors Counsel Inc. now owns 8,863 shares of the business services provider’s stock worth $2,065,000 after acquiring an additional 43 shares during the last quarter. Prestige Wealth Management Group LLC boosted its holdings in Automatic Data Processing by 0.8% during the first quarter. Prestige Wealth Management Group LLC now owns 5,581 shares of the business services provider’s stock valued at $1,402,000 after acquiring an additional 43 shares during the period. Finally, Patron Partners LLC grew its position in shares of Automatic Data Processing by 1.6% in the first quarter. Patron Partners LLC now owns 2,733 shares of the business services provider’s stock valued at $683,000 after purchasing an additional 44 shares during the last quarter. 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.