BMO Capital Markets Increases Automatic Data Processing (NASDAQ:ADP) Price Target to $165.00

Samuel Edwards

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Automatic Data Processing (NASDAQ:ADP) had its target price boosted by equities researchers at BMO Capital Markets from $149.00 to $165.00 in a research note issued on Thursday, The Fly reports. The firm currently has a “market perform” rating on the business services provider’s stock. BMO Capital Markets’ target price would indicate a potential upside of 4.46% from the company’s previous close.

Several other research firms have also recently weighed in on ADP. Citigroup reduced their price target on shares of Automatic Data Processing from $148.00 to $144.00 and set a “neutral” rating for the company in a report on Thursday, July 30th. The Goldman Sachs Group started coverage on shares of Automatic Data Processing in a report on Tuesday, July 14th. They set a “sell” rating and a $146.00 target price for the company. Morgan Stanley increased their target price on shares of Automatic Data Processing from $147.00 to $159.00 and gave the stock an “equal weight” rating in a report on Thursday. Jefferies Financial Group increased their target price on shares of Automatic Data Processing from $135.00 to $168.00 and gave the stock a “hold” rating in a report on Wednesday. Finally, Zacks Investment Research upgraded shares of Automatic Data Processing from a “sell” rating to a “hold” rating and set a $146.00 target price for the company in a report on Wednesday, September 30th. Three investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $158.38.

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Shares of NASDAQ ADP opened at $157.96 on Thursday. The stock has a market cap of $67.90 billion, a P/E ratio of 27.71, a P/E/G ratio of 2.48 and a beta of 0.76. The firm has a 50 day moving average price of $141.73 and a 200 day moving average price of $142.64. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.05 and a current ratio of 1.05. Automatic Data Processing has a 52-week low of $103.11 and a 52-week high of $182.32.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, October 28th. The business services provider reported $1.41 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.97 by $0.44. Automatic Data Processing had a net margin of 16.91% and a return on equity of 46.66%. During the same quarter in the previous year, the company earned $1.34 earnings per share. Analysts predict that Automatic Data Processing will post 5.01 earnings per share for the current fiscal year.

In related news, VP Brian L. Michaud sold 250 shares of the company’s stock in a transaction dated Friday, October 9th. The shares were sold at an average price of $148.00, for a total value of $37,000.00. Following the transaction, the vice president now directly owns 6,112 shares in the company, valued at $904,576. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Carlos A. Rodriguez sold 52,229 shares of the stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $136.85, for a total transaction of $7,147,538.65. Following the sale, the chief executive officer now owns 116,284 shares in the company, valued at $15,913,465.40. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company’s stock.

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Institutional investors have recently made changes to their positions in the business. Riggs Asset Managment Co. Inc. grew its stake in Automatic Data Processing by 200.0% during the third quarter. Riggs Asset Managment Co. Inc. now owns 600 shares of the business services provider’s stock worth $38,000 after buying an additional 400 shares in the last quarter. Financial Management Professionals Inc. boosted its stake in shares of Automatic Data Processing by 28,100.0% in the 2nd quarter. Financial Management Professionals Inc. now owns 282 shares of the business services provider’s stock valued at $42,000 after purchasing an additional 281 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Automatic Data Processing by 15,650.0% in the 1st quarter. Tower Research Capital LLC TRC now owns 315 shares of the business services provider’s stock valued at $43,000 after purchasing an additional 313 shares in the last quarter. JJJ Advisors Inc. acquired a new stake in shares of Automatic Data Processing in the 2nd quarter valued at approximately $44,000. Finally, Tarbox Family Office Inc. boosted its stake in shares of Automatic Data Processing by 86.3% in the 2nd quarter. Tarbox Family Office Inc. now owns 300 shares of the business services provider’s stock valued at $45,000 after purchasing an additional 139 shares in the last quarter. Hedge funds and other institutional investors own 78.77% of the company’s stock.

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Automatic Data Processing Company Profile

Automatic Data Processing, Inc provides business process outsourcing services worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO) Services. The Employer Services segment offers various human resources (HR) outsourcing and technology-based human capital management solutions.

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