Automatic Data Processing (NASDAQ:ADP) Price Target Raised to $270.00

Automatic Data Processing (NASDAQ:ADP) had its price objective upped by UBS Group from $260.00 to $270.00 in a report issued on Wednesday,Benzinga reports. They currently have a neutral rating on the business services provider’s stock.

A number of other research analysts have also recently issued reports on ADP. Wells Fargo & Company lifted their price objective on shares of Automatic Data Processing from $214.00 to $248.00 and gave the company an “equal weight” rating in a research note on Thursday, July 9th. Citigroup cut their target price on Automatic Data Processing from $265.00 to $230.00 and set a “neutral” rating for the company in a research note on Thursday, April 30th. Robert W. Baird reduced their target price on Automatic Data Processing from $300.00 to $270.00 in a report on Thursday, April 30th. Stifel Nicolaus lifted their price target on Automatic Data Processing from $240.00 to $260.00 and gave the company a “hold” rating in a research note on Wednesday, July 8th. Finally, Guggenheim reissued a “buy” rating and set a $270.00 price target on shares of Automatic Data Processing in a report on Tuesday. Three equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $256.00.

Automatic Data Processing Trading Up 3.0%

ADP opened at $250.09 on Wednesday. The stock has a market capitalization of $99.97 billion, a price-to-earnings ratio of 23.33 and a beta of 0.83. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.63. Automatic Data Processing has a twelve month low of $188.16 and a twelve month high of $315.98. The company has a 50-day simple moving average of $231.61 and a 200 day simple moving average of $224.52.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, April 29th. The business services provider reported $3.37 EPS for the quarter, beating the consensus estimate of $3.30 by $0.07. The firm had revenue of $5.94 billion for the quarter, compared to analyst estimates of $5.85 billion. Automatic Data Processing had a net margin of 20.12% and a return on equity of 68.82%. The business’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same period last year, the firm earned $3.06 EPS. Automatic Data Processing has set its FY 2026 guidance at 11.010-11.110 EPS. Analysts predict that Automatic Data Processing will post 11.08 EPS for the current fiscal year.

Institutional Trading of Automatic Data Processing

Hedge funds and other institutional investors have recently modified their holdings of the stock. Imprint Wealth LLC bought a new position in shares of Automatic Data Processing in the 3rd quarter valued at $25,000. Cornerstone Financial Management LLC bought a new stake in Automatic Data Processing during the 4th quarter worth $26,000. Bard Associates Inc. bought a new stake in Automatic Data Processing during the 4th quarter worth $28,000. Whipplewood Advisors LLC increased its holdings in Automatic Data Processing by 2,740.0% in the 1st quarter. Whipplewood Advisors LLC now owns 142 shares of the business services provider’s stock worth $29,000 after purchasing an additional 137 shares in the last quarter. Finally, Prosperity Bancshares Inc acquired a new position in Automatic Data Processing in the 4th quarter worth about $33,000. Institutional investors own 80.03% of the company’s stock.

About Automatic Data Processing

Automatic Data Processing, Inc (ADP) is a global provider of cloud-based human capital management (HCM) and payroll solutions. Founded in 1949 and headquartered in Roseland, New Jersey, ADP began as a payroll processing company and has evolved into a diversified provider of workforce management, HR, benefits administration, tax and compliance services, and analytics for employers of all sizes.

ADP’s product portfolio includes payroll processing and tax filing, time and attendance systems, benefits administration, talent management, and HR outsourcing.