Automatic Data Processing (NASDAQ:ADP) Reaches New 1-Year High at $257.80

Automatic Data Processing, Inc. (NASDAQ:ADP)’s stock price hit a new 52-week high during trading on Tuesday . The company traded as high as $257.80 and last traded at $257.80, with a volume of 78152 shares changing hands. The stock had previously closed at $255.21.

Analysts Set New Price Targets

A number of research analysts recently commented on ADP shares. Barclays increased their price target on shares of Automatic Data Processing from $280.00 to $282.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. TD Cowen lowered their price target on shares of Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating for the company in a report on Thursday, May 2nd. StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Tuesday, July 2nd. Finally, JPMorgan Chase & Co. lowered their price target on shares of Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating for the company in a report on Thursday, May 2nd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Automatic Data Processing presently has a consensus rating of “Hold” and an average target price of $253.50.

Automatic Data Processing Price Performance

The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $105.49 billion, a PE ratio of 28.48, a price-to-earnings-growth ratio of 2.64 and a beta of 0.78. The stock’s 50-day moving average is $244.34 and its two-hundred day moving average is $245.19.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, May 1st. The business services provider reported $2.88 EPS for the quarter, topping analysts’ consensus estimates of $2.79 by $0.09. The business had revenue of $5.30 billion for the quarter, compared to analyst estimates of $5.22 billion. Automatic Data Processing had a net margin of 19.56% and a return on equity of 93.09%. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same period last year, the company posted $2.52 earnings per share. On average, equities analysts predict that Automatic Data Processing, Inc. will post 9.16 EPS for the current year.

Hedge Funds Weigh In On Automatic Data Processing

Institutional investors have recently modified their holdings of the stock. TD Asset Management Inc increased its position in shares of Automatic Data Processing by 14.2% during the first quarter. TD Asset Management Inc now owns 801,857 shares of the business services provider’s stock worth $200,256,000 after acquiring an additional 99,515 shares during the period. SG Americas Securities LLC boosted its stake in shares of Automatic Data Processing by 195.1% during the first quarter. SG Americas Securities LLC now owns 51,607 shares of the business services provider’s stock valued at $12,888,000 after purchasing an additional 34,118 shares in the last quarter. Cornerstone Wealth Group LLC bought a new position in shares of Automatic Data Processing during the first quarter valued at approximately $2,924,000. Everence Capital Management Inc. boosted its stake in shares of Automatic Data Processing by 28.5% during the fourth quarter. Everence Capital Management Inc. now owns 17,150 shares of the business services provider’s stock valued at $3,995,000 after purchasing an additional 3,800 shares in the last quarter. Finally, LVW Advisors LLC boosted its stake in shares of Automatic Data Processing by 23.8% during the first quarter. LVW Advisors LLC now owns 3,854 shares of the business services provider’s stock valued at $962,000 after purchasing an additional 740 shares in the last quarter. 80.03% of the stock is owned by hedge funds and other 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.