Automatic Data Processing (NASDAQ:ADP) Price Target Raised to $295.00

Automatic Data Processing (NASDAQ:ADP) had its price target raised by Cantor Fitzgerald from $244.00 to $295.00 in a report issued on Wednesday,Benzinga reports. They currently have an overweight rating on the business services provider’s stock.

ADP has been the subject of a number of other reports. Argus lowered their target price on Automatic Data Processing from $300.00 to $240.00 and set a “buy” rating for the company in a research note on Tuesday, May 5th. UBS Group upped their price target on shares of Automatic Data Processing from $210.00 to $218.00 and gave the company a “neutral” rating in a report on Thursday, April 30th. Robert W. Baird lowered their price objective on shares of Automatic Data Processing from $300.00 to $270.00 in a research report on Thursday, April 30th. Citigroup dropped their price objective on shares of Automatic Data Processing from $265.00 to $230.00 and set a “neutral” rating on the stock in a report on Thursday, April 30th. Finally, Wells Fargo & Company boosted 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 report on Thursday, July 9th. Three 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 stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $256.00.

Automatic Data Processing Stock Performance

ADP stock opened at $250.09 on Wednesday. The business’s 50-day moving average price is $231.61 and its two-hundred day moving average price is $224.52. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.63. The firm has a market cap of $99.97 billion, a PE ratio of 23.33 and a beta of 0.83. Automatic Data Processing has a 1-year low of $188.16 and a 1-year high of $315.98.

Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Wednesday, April 29th. The business services provider reported $3.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.30 by $0.07. The firm had revenue of $5.94 billion during the quarter, compared to analysts’ expectations of $5.85 billion. Automatic Data Processing had a return on equity of 68.82% and a net margin of 20.12%.The company’s revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the firm earned $3.06 earnings per share. Automatic Data Processing has set its FY 2026 guidance at 11.010-11.110 EPS. As a group, research analysts forecast that Automatic Data Processing will post 11.08 earnings per share for the current year.

Hedge Funds Weigh In On Automatic Data Processing

Large investors have recently bought and sold shares of the company. Northcape Wealth Management LLC lifted its position in shares of Automatic Data Processing by 0.6% in the fourth quarter. Northcape Wealth Management LLC now owns 6,577 shares of the business services provider’s stock worth $1,692,000 after purchasing an additional 39 shares in the last quarter. Rathbones Group PLC grew its position in Automatic Data Processing by 1.1% in the fourth quarter. Rathbones Group PLC now owns 4,027 shares of the business services provider’s stock valued at $1,036,000 after purchasing an additional 42 shares in the last quarter. Zullo Investment Group Inc. increased its stake in Automatic Data Processing by 2.3% in the 4th quarter. Zullo Investment Group Inc. now owns 1,885 shares of the business services provider’s stock valued at $485,000 after buying an additional 42 shares during the last quarter. Trilogy Capital Inc. increased its stake in Automatic Data Processing by 5.3% in the 4th quarter. Trilogy Capital Inc. now owns 850 shares of the business services provider’s stock valued at $219,000 after buying an additional 43 shares during the last quarter. Finally, Blossom Wealth Management lifted its position in Automatic Data Processing by 3.1% during the 4th quarter. Blossom Wealth Management now owns 1,470 shares of the business services provider’s stock worth $378,000 after buying an additional 44 shares in 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 (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.