Citigroup Increases Automatic Data Processing (NASDAQ:ADP) Price Target to $212.00

Automatic Data Processing (NASDAQ:ADP) had its price target increased by investment analysts at Citigroup from $190.00 to $212.00 in a research report issued on Monday, The Fly reports. Citigroup’s price target points to a potential upside of 9.30% from the stock’s current price.

ADP has been the subject of several other research reports. Morgan Stanley upped their price target on Automatic Data Processing from $171.00 to $185.00 and gave the company an “equal weight” rating in a report on Thursday, April 29th. Wells Fargo & Company increased their price objective on shares of Automatic Data Processing from $200.00 to $205.00 and gave the company an “overweight” rating in a research note on Thursday, January 28th. Evercore ISI lowered shares of Automatic Data Processing from an “outperform” rating to an “underperform” rating and decreased their target price for the company from $197.00 to $143.00 in a research report on Tuesday, January 12th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell increased their price target on shares of Automatic Data Processing from $190.00 to $212.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Mizuho started coverage on shares of Automatic Data Processing in a research note on Wednesday, February 10th. They set a “buy” rating and a $210.00 price target for the company. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company. Automatic Data Processing presently has an average rating of “Hold” and an average target price of $174.53.

Shares of Automatic Data Processing stock opened at $193.97 on Monday. Automatic Data Processing has a 1 year low of $127.31 and a 1 year high of $197.28. The company’s fifty day simple moving average is $189.95 and its 200-day simple moving average is $174.37. The company has a market cap of $83.01 billion, a price-to-earnings ratio of 33.68, a PEG ratio of 2.39 and a beta of 0.70. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.34.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Tuesday, April 27th. The business services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.82 by $0.07. Automatic Data Processing had a net margin of 17.07% and a return on equity of 46.13%. The firm had revenue of $4.10 billion during the quarter, compared to the consensus estimate of $4.08 billion. During the same period in the prior year, the firm earned $1.92 EPS. The business’s revenue was up 1.3% on a year-over-year basis. As a group, research analysts forecast that Automatic Data Processing will post 5.63 earnings per share for the current fiscal year.

In other news, VP Stuart Sackman sold 576 shares of the business’s stock in a transaction on Monday, March 15th. The stock was sold at an average price of $185.00, for a total transaction of $106,560.00. Following the completion of the sale, the vice president now owns 23,221 shares in the company, valued at $4,295,885. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Deborah L. Dyson sold 500 shares of the business’s stock in a transaction on Monday, April 12th. The stock was sold at an average price of $188.72, for a total value of $94,360.00. Following the sale, the vice president now owns 24,686 shares of the company’s stock, valued at approximately $4,658,741.92. The disclosure for this sale can be found here. Company insiders own 0.34% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the business. Chandler Asset Management Inc. acquired a new position in Automatic Data Processing in the fourth quarter valued at approximately $26,000. Bainco International Investors acquired a new position in shares of Automatic Data Processing in the 4th quarter valued at $34,000. Freedman Financial Associates Inc. bought a new position in shares of Automatic Data Processing in the 4th quarter worth $35,000. Exchange Traded Concepts LLC grew its stake in shares of Automatic Data Processing by 1,005.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 221 shares of the business services provider’s stock worth $39,000 after purchasing an additional 201 shares during the period. Finally, Atlas Private Wealth Advisors increased its holdings in Automatic Data Processing by 127.6% in the first quarter. Atlas Private Wealth Advisors now owns 223 shares of the business services provider’s stock valued at $42,000 after purchasing an additional 125 shares during the last quarter. Institutional investors own 79.65% of the company’s stock.

About Automatic Data Processing

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

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