Automatic Data Processing (NASDAQ:ADP) Given New $223.00 Price Target at TD Cowen

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

Several other research analysts have also weighed in on ADP. Stifel Nicolaus lowered their price objective on Automatic Data Processing from $270.00 to $240.00 in a research report on Thursday, April 30th. BMO Capital Markets reduced their price objective on shares of Automatic Data Processing from $281.00 to $234.00 and set a “market perform” rating on the stock in a report on Tuesday, April 7th. 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. Guggenheim assumed coverage on Automatic Data Processing in a report on Thursday, March 19th. They issued a “buy” rating and a $270.00 target price for the company. Finally, Robert W. Baird decreased their price objective on Automatic Data Processing from $300.00 to $270.00 in a research note on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $244.79.

Automatic Data Processing Stock Down 1.7%

NASDAQ:ADP traded down $4.05 during mid-day trading on Monday, hitting $238.22. 201,487 shares of the company’s stock traded hands, compared to its average volume of 3,252,095. The company has a fifty day moving average of $219.94 and a 200 day moving average of $225.54. The company has a market capitalization of $95.22 billion, a P/E 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 twelve month low of $188.16 and a twelve month high of $315.98.

Automatic Data Processing (NASDAQ:ADP) last posted its earnings results 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. Automatic Data Processing had a net margin of 20.12% and a return on equity of 68.82%. The company had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $5.85 billion. During the same period in the previous year, the firm posted $3.06 earnings per share. The firm’s quarterly revenue was up 7.0% on a year-over-year basis. Automatic Data Processing has set its FY 2026 guidance at 11.010-11.110 EPS. On average, analysts forecast that Automatic Data Processing will post 11.08 EPS for the current year.

Hedge Funds Weigh In On Automatic Data Processing

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. increased 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 worth $892,120,000 after acquiring an additional 3,415,576 shares during the period. Cardano Risk Management B.V. boosted its stake in Automatic Data Processing by 950.1% in 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 in the last quarter. Norges Bank bought a new stake in Automatic Data Processing during the 4th quarter worth about $721,738,000. Wellington Management Group LLP raised its position in Automatic Data Processing by 47.8% in the 3rd quarter. Wellington Management Group LLP now owns 6,830,294 shares of the business services provider’s stock worth $2,004,691,000 after purchasing an additional 2,208,927 shares during the last quarter. Finally, Clearbridge Investments LLC lifted its stake in shares of Automatic Data Processing by 133.3% during the fourth quarter. Clearbridge Investments LLC now owns 1,687,793 shares of the business services provider’s stock valued at $434,151,000 after acquiring an additional 964,405 shares during the period. 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.