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

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

A number of other equities analysts have also weighed in on the company. StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. Evercore ISI lifted 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. Mizuho raised their price objective on Automatic Data Processing from $265.00 to $272.00 and gave the company a “buy” rating in a research report on Monday, March 11th. Bank of America upgraded Automatic Data Processing from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $217.00 to $243.00 in a research report on Wednesday, January 17th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $267.00 price target on shares of Automatic Data Processing in a report on Thursday, February 1st. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $255.82.

Automatic Data Processing Stock Performance

Shares of NASDAQ:ADP traded down $5.68 during midday trading on Thursday, hitting $241.65. The company had a trading volume of 569,865 shares, compared to its average volume of 1,784,899. Automatic Data Processing has a 12-month low of $205.53 and a 12-month high of $256.84. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market cap of $99.27 billion, a price-to-earnings ratio of 28.20, a PEG ratio of 2.27 and a beta of 0.78. The company has a fifty day moving average of $246.16 and a two-hundred day moving average of $239.11.

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

Insider Activity at Automatic Data Processing

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Cambridge Investment Research Advisors Inc. grew its stake in Automatic Data Processing by 3.3% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 44,305 shares of the business services provider’s stock worth $10,659,000 after buying an additional 1,399 shares during the last quarter. NorthRock Partners LLC increased its holdings in shares of Automatic Data Processing by 27.3% during the third quarter. NorthRock Partners LLC now owns 1,567 shares of the business services provider’s stock valued at $377,000 after acquiring an additional 336 shares in the last quarter. Mn Services Vermogensbeheer B.V. raised its position in shares of Automatic Data Processing by 1.7% in the 3rd quarter. Mn Services Vermogensbeheer B.V. now owns 202,165 shares of the business services provider’s stock valued at $48,637,000 after purchasing an additional 3,400 shares during the last quarter. Segment Wealth Management LLC boosted its stake in Automatic Data Processing by 3.0% in the 3rd quarter. Segment Wealth Management LLC now owns 53,999 shares of the business services provider’s stock worth $12,991,000 after purchasing an additional 1,560 shares in the last quarter. Finally, Forsta AP Fonden boosted its stake in Automatic Data Processing by 8.0% in the 3rd quarter. Forsta AP Fonden now owns 131,600 shares of the business services provider’s stock worth $31,660,000 after purchasing an additional 9,800 shares in the last quarter. 80.03% of the stock is 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.