TD Cowen Raises Automatic Data Processing (NASDAQ:ADP) Price Target to $223.00

Automatic Data Processing (NASDAQ:ADP) had its price target lifted by investment analysts at TD Cowen from $216.00 to $223.00 in a report issued on Monday,Benzinga reports. The firm presently has a “hold” rating on the business services provider’s stock. TD Cowen’s price target suggests a potential downside of 6.39% from the company’s current price.

A number of other research analysts have also recently issued reports on the stock. Robert W. Baird decreased their price objective on shares of Automatic Data Processing from $300.00 to $270.00 in a research note on Thursday, April 30th. Morgan Stanley reduced their price objective on shares of Automatic Data Processing from $311.00 to $274.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 28th. Mizuho decreased their target price on shares of Automatic Data Processing from $332.00 to $305.00 in a research report on Thursday, April 30th. BMO Capital Markets cut their target price on Automatic Data Processing from $281.00 to $234.00 and set a “market perform” rating on the stock in a research report on Tuesday, April 7th. Finally, Citigroup decreased their price target on shares of Automatic Data Processing from $265.00 to $230.00 and set a “neutral” rating for the company in a research note on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Automatic Data Processing currently has an average rating of “Hold” and an average target price of $244.79.

Automatic Data Processing Stock Down 1.7%

ADP traded down $4.05 on Monday, hitting $238.22. 201,487 shares of the company were exchanged, compared to its average volume of 3,252,095. The company has a market cap of $95.22 billion, a PE ratio of 22.21 and a beta of 0.83. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.04 and a current ratio of 1.04. Automatic Data Processing has a 12 month low of $188.16 and a 12 month high of $315.98. The stock’s fifty day moving average is $219.94 and its 200-day moving average is $225.54.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, April 29th. The business services provider reported $3.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.30 by $0.07. The company had revenue of $5.94 billion during the quarter, compared to analysts’ expectations of $5.85 billion. Automatic Data Processing had a return on equity of 68.82% and a net margin of 20.12%.The business’s revenue was up 7.0% on a year-over-year basis. During the same period last year, the firm posted $3.06 earnings per share. Automatic Data Processing has set its FY 2026 guidance at 11.010-11.110 EPS. Equities research analysts predict that Automatic Data Processing will post 11.08 EPS for the current fiscal year.

Institutional Trading of Automatic Data Processing

Several institutional investors and hedge funds have recently made changes to their positions in ADP. Northwestern Mutual Wealth Management Co. grew its position in Automatic Data Processing by 6,493.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,468,180 shares of the business services provider’s stock valued at $892,120,000 after acquiring an additional 3,415,576 shares during the last quarter. Cardano Risk Management B.V. boosted its holdings in shares of Automatic Data Processing by 950.1% during the fourth quarter. Cardano Risk Management B.V. now owns 3,563,180 shares of the business services provider’s stock worth $916,557,000 after purchasing an additional 3,223,855 shares during the period. Norges Bank purchased a new position in shares of Automatic Data Processing during the fourth quarter valued at approximately $721,738,000. Wellington Management Group LLP increased its position in Automatic Data Processing by 47.8% during the 3rd quarter. Wellington Management Group LLP now owns 6,830,294 shares of the business services provider’s stock valued at $2,004,691,000 after purchasing an additional 2,208,927 shares during the period. Finally, Clearbridge Investments LLC raised its stake in Automatic Data Processing by 133.3% in the fourth quarter. Clearbridge Investments LLC now owns 1,687,793 shares of the business services provider’s stock worth $434,151,000 after buying an additional 964,405 shares in the last quarter. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Company Profile

Automatic Data Processing, Inc (ADP) is a global provider of cloud-based human capital management (HCM) and payroll solutions. Founded in 1949 and headquartered in Roseland, New Jersey, ADP began as a payroll processing company and has evolved into a diversified provider of workforce management, HR, benefits administration, tax and compliance services, and analytics for employers of all sizes.

ADP’s product portfolio includes payroll processing and tax filing, time and attendance systems, benefits administration, talent management, and HR outsourcing.