Automatic Data Processing (NASDAQ:ADP – Free Report) had its price target hoisted by Jefferies Financial Group from $250.00 to $260.00 in a research report released on Thursday, Benzinga reports. They currently have a hold rating on the business services provider’s stock.
Several other research analysts have also weighed in on ADP. TD Cowen lowered their price objective on Automatic Data Processing from $253.00 to $251.00 and set a hold rating for the company in a research report on Thursday, May 2nd. JPMorgan Chase & Co. lowered their price objective on Automatic Data Processing from $254.00 to $250.00 and set an underweight rating for the company in a research report on Thursday, May 2nd. StockNews.com cut Automatic Data Processing from a buy rating to a hold rating in a research note on Tuesday, July 2nd. Finally, Barclays upped their price target 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 research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Hold and an average target price of $259.64.
Read Our Latest Research Report on Automatic Data Processing
Automatic Data Processing Trading Up 0.6 %
Automatic Data Processing (NASDAQ:ADP – Get Free Report) last posted its quarterly 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 business had revenue of $4.80 billion during the quarter, compared to analyst estimates of $4.74 billion. Automatic Data Processing had a return on equity of 89.20% and a net margin of 19.54%. The business’s revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.89 earnings per share. On average, sell-side analysts anticipate that Automatic Data Processing will post 10.01 EPS for the current fiscal year.
Hedge Funds Weigh In On Automatic Data Processing
Several hedge funds have recently made changes to their positions in ADP. Keener Financial Planning LLC grew its holdings in shares of Automatic Data Processing by 230.3% during the first quarter. Keener Financial Planning LLC now owns 109 shares of the business services provider’s stock worth $28,000 after buying an additional 76 shares during the last quarter. Crewe Advisors LLC purchased a new position in shares of Automatic Data Processing during the first quarter worth about $33,000. Pathway Financial Advisers LLC purchased a new position in shares of Automatic Data Processing during the first quarter worth about $36,000. Pineridge Advisors LLC purchased a new position in shares of Automatic Data Processing during the fourth quarter worth about $39,000. Finally, MFA Wealth Advisors LLC purchased a new position in shares of Automatic Data Processing during the second quarter worth about $40,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.
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.
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