Jefferies Financial Group Raises Automatic Data Processing (NASDAQ:ADP) Price Target to $260.00

Automatic Data Processing (NASDAQ:ADP) had its price target lifted by Jefferies Financial Group from $250.00 to $260.00 in a research note issued to investors on Thursday, Benzinga reports. They currently have a hold rating on the business services provider’s stock.

Other research analysts also recently issued research reports about the company. TD Cowen dropped their price target on Automatic Data Processing from $253.00 to $251.00 and set a hold rating for the company in a research note on Thursday, May 2nd. StockNews.com downgraded Automatic Data Processing from a buy rating to a hold rating in a research note on Tuesday, July 2nd. JPMorgan Chase & Co. dropped their price target on Automatic Data Processing from $254.00 to $250.00 and set an underweight rating for the company in a research note on Thursday, May 2nd. Finally, Barclays boosted their target price on Automatic Data Processing from $280.00 to $282.00 and gave the stock an overweight rating in a research note on Thursday, May 2nd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Automatic Data Processing currently has a consensus rating of Hold and a consensus target price of $259.64.

Automatic Data Processing Trading Up 0.6 %

Shares of Automatic Data Processing stock opened at $265.22 on Thursday. The firm has a 50-day moving average of $245.11 and a 200-day moving average of $245.92. The stock has a market cap of $108.55 billion, a PE ratio of 29.41, a PEG ratio of 2.72 and a beta of 0.78. Automatic Data Processing has a 52-week low of $205.53 and a 52-week high of $269.49. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.01 and a current ratio of 1.01.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, July 31st. The business services provider reported $2.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.06 by $0.03. The company had revenue of $4.80 billion during the quarter, compared to analysts’ expectations of $4.74 billion. Automatic Data Processing had a net margin of 19.54% and a return on equity of 89.20%. Automatic Data Processing’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.89 earnings per share. As a group, sell-side analysts forecast that Automatic Data Processing will post 10.01 EPS for the current year.

Institutional Trading of Automatic Data Processing

Several institutional investors have recently added to or reduced their stakes in the stock. Waverton Investment Management Ltd bought a new position in shares of Automatic Data Processing during the 2nd quarter worth approximately $334,000. 9258 Wealth Management LLC boosted its holdings in shares of Automatic Data Processing by 6.9% during the 2nd quarter. 9258 Wealth Management LLC now owns 1,185 shares of the business services provider’s stock worth $283,000 after buying an additional 76 shares in the last quarter. SouthState Corp boosted its holdings in shares of Automatic Data Processing by 1.0% during the 2nd quarter. SouthState Corp now owns 18,194 shares of the business services provider’s stock worth $4,343,000 after buying an additional 172 shares in the last quarter. Hohimer Wealth Management LLC raised its position in shares of Automatic Data Processing by 6.9% during the second quarter. Hohimer Wealth Management LLC now owns 13,117 shares of the business services provider’s stock worth $3,131,000 after purchasing an additional 841 shares during the period. Finally, Journey Advisory Group LLC raised its position in shares of Automatic Data Processing by 6.3% during the second quarter. Journey Advisory Group LLC now owns 17,333 shares of the business services provider’s stock worth $4,138,000 after purchasing an additional 1,033 shares during the period. 80.03% of the stock is currently owned by institutional investors.

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.