Automatic Data Processing (NASDAQ:ADP) Given New $324.00 Price Target at UBS Group

Automatic Data Processing (NASDAQ:ADP) had its target price lifted by stock analysts at UBS Group from $318.00 to $324.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the business services provider’s stock. UBS Group’s target price points to a potential upside of 4.37% from the company’s previous close.

ADP has been the topic of several other reports. Barclays upped their price objective on shares of Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Mizuho upped their price objective on shares of Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $315.00 target price on shares of Automatic Data Processing in a research note on Thursday, January 30th. Jefferies Financial Group boosted their target price on shares of Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. Finally, StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, Automatic Data Processing has an average rating of “Hold” and an average price target of $296.18.

Automatic Data Processing Stock Down 1.0 %

NASDAQ:ADP opened at $310.43 on Tuesday. The company has a market cap of $126.49 billion, a PE ratio of 32.37, a P/E/G ratio of 3.62 and a beta of 0.79. Automatic Data Processing has a twelve month low of $231.27 and a twelve month high of $322.84. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59. The company’s 50 day moving average is $301.77 and its two-hundred day moving average is $293.19.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, January 29th. The business services provider reported $2.35 EPS for the quarter, beating the consensus estimate of $2.30 by $0.05. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. Analysts anticipate that Automatic Data Processing will post 9.93 EPS for the current year.

Insiders Place Their Bets

In other Automatic Data Processing news, VP Brian L. Michaud sold 362 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $293.83, for a total transaction of $106,366.46. Following the completion of the transaction, the vice president now directly owns 13,706 shares in the company, valued at approximately $4,027,233.98. This represents a 2.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP David Foskett sold 1,004 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $289.29, for a total transaction of $290,447.16. Following the transaction, the vice president now owns 5,958 shares of the company’s stock, valued at $1,723,589.82. This represents a 14.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,478 shares of company stock worth $1,617,241. Company insiders own 0.21% of the company’s stock.

Institutional Investors Weigh In On Automatic Data Processing

A number of hedge funds have recently modified their holdings of ADP. Itau Unibanco Holding S.A. acquired a new stake in shares of Automatic Data Processing in the third quarter valued at about $26,000. Dunhill Financial LLC raised its position in shares of Automatic Data Processing by 346.5% in the third quarter. Dunhill Financial LLC now owns 106 shares of the business services provider’s stock valued at $29,000 after buying an additional 149 shares during the last quarter. Main Street Group LTD raised its position in shares of Automatic Data Processing by 50.7% in the fourth quarter. Main Street Group LTD now owns 113 shares of the business services provider’s stock valued at $33,000 after buying an additional 38 shares during the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Automatic Data Processing in the third quarter valued at about $35,000. Finally, Cyrus J. Lawrence LLC grew its holdings in shares of Automatic Data Processing by 121.8% in the fourth quarter. Cyrus J. Lawrence LLC now owns 122 shares of the business services provider’s stock valued at $35,000 after purchasing an additional 67 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.