Automatic Data Processing (NASDAQ:ADP) PT Lowered to $250.00 at JPMorgan Chase & Co.

Automatic Data Processing (NASDAQ:ADP) had its price target dropped by equities researchers at JPMorgan Chase & Co. from $254.00 to $250.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has an “underweight” rating on the business services provider’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 3.46% from the stock’s current price.

A number of other equities analysts have also issued reports on the stock. Mizuho upped their price target on Automatic Data Processing from $265.00 to $272.00 and gave the company a “buy” rating in a report on Monday, March 11th. Evercore ISI boosted their price target on shares of Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a report on Tuesday, March 26th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $267.00 price objective on shares of Automatic Data Processing in a report on Thursday, February 1st. Bank of America upgraded shares of Automatic Data Processing from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $217.00 to $243.00 in a research report on Wednesday, January 17th. Finally, Barclays increased their price target on shares of Automatic Data Processing from $280.00 to $282.00 and gave the stock an “overweight” rating in a research report on Thursday. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $255.82.

Automatic Data Processing Trading Down 2.3 %

Shares of ADP stock traded down $5.68 during trading hours on Thursday, reaching $241.65. 569,865 shares of the stock traded hands, compared to its average volume of 1,784,899. The business has a fifty day moving average price of $246.16 and a 200 day moving average price of $239.11. The firm has a market capitalization of $99.27 billion, a PE ratio of 28.20, a PEG ratio of 2.27 and a beta of 0.78. Automatic Data Processing has a 1-year low of $205.53 and a 1-year high of $256.84. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.69.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, May 1st. The business services provider reported $2.88 earnings per share for the quarter, topping the consensus estimate of $2.79 by $0.09. The company had revenue of $5.30 billion for the quarter, compared to analyst estimates of $5.22 billion. Automatic Data Processing had a return on equity of 95.22% and a net margin of 19.14%. The business’s revenue was up 7.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.52 EPS. On average, equities research analysts forecast that Automatic Data Processing will post 9.14 EPS for the current year.

Insider Activity at Automatic Data Processing

In related news, VP Sreenivasa Kutam sold 368 shares of Automatic Data Processing stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $247.01, for a total value of $90,899.68. Following the sale, the vice president now owns 20,319 shares of the company’s stock, valued at approximately $5,018,996.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, VP Sreenivasa Kutam sold 368 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $247.01, for a total transaction of $90,899.68. Following the completion of the transaction, the vice president now directly owns 20,319 shares in the company, valued at approximately $5,018,996.19. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Joseph Desilva sold 1,904 shares of Automatic Data Processing stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $255.00, for a total value of $485,520.00. Following the sale, the vice president now owns 17,179 shares of the company’s stock, valued at approximately $4,380,645. The disclosure for this sale can be found here. Insiders have sold 3,829 shares of company stock valued at $965,274 over the last ninety days. Corporate insiders own 0.26% of the company’s stock.

Institutional Trading of Automatic Data Processing

Several large investors have recently added to or reduced their stakes in the business. OFI Invest Asset Management bought a new stake in shares of Automatic Data Processing in the 3rd quarter worth about $25,000. Fortitude Family Office LLC purchased a new position in shares of Automatic Data Processing in the fourth quarter worth $35,000. Pineridge Advisors LLC acquired a new stake in Automatic Data Processing during the 4th quarter worth about $39,000. Raleigh Capital Management Inc. raised its holdings in shares of Automatic Data Processing by 106.0% during the third quarter. Raleigh Capital Management Inc. now owns 173 shares of the business services provider’s stock worth $42,000 after purchasing an additional 89 shares during the last quarter. Finally, Evolution Advisers Inc. purchased a new stake in Automatic Data Processing in the 4th quarter worth approximately $41,000. 80.03% of the stock is currently owned by institutional investors.

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.