Automatic Data Processing (NASDAQ:ADP) Price Target Cut to $244.00 by Analysts at Cantor Fitzgerald

Automatic Data Processing (NASDAQ:ADP) had its price objective decreased by analysts at Cantor Fitzgerald from $306.00 to $244.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the business services provider’s stock. Cantor Fitzgerald’s price objective would suggest a potential upside of 20.56% from the company’s current price.

Several other analysts have also commented on the stock. Guggenheim initiated coverage on shares of Automatic Data Processing in a research report on Thursday, March 19th. They set a “buy” rating and a $270.00 price target on the stock. Wells Fargo & Company reduced their price target on shares of Automatic Data Processing from $262.00 to $214.00 and set an “underweight” rating on the stock in a research report on Friday, March 27th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Automatic Data Processing in a research report on Monday, December 29th. JPMorgan Chase & Co. cut their target price on Automatic Data Processing from $295.00 to $275.00 and set an “underweight” rating on the stock in a research report on Thursday, January 29th. Finally, Citigroup cut their target price on Automatic Data Processing from $303.00 to $265.00 and set a “neutral” rating on the stock in a research report on Thursday, January 29th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $273.85.

Automatic Data Processing Stock Up 1.0%

ADP stock opened at $202.39 on Tuesday. The firm has a market cap of $81.49 billion, a PE ratio of 19.46 and a beta of 0.85. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.03 and a current ratio of 1.03. The firm’s 50 day moving average price is $208.68 and its 200-day moving average price is $242.80. Automatic Data Processing has a one year low of $188.16 and a one year high of $329.93.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, January 28th. The business services provider reported $2.62 EPS for the quarter, beating the consensus estimate of $2.57 by $0.05. The firm had revenue of $5.36 billion for the quarter, compared to analyst estimates of $5.34 billion. Automatic Data Processing had a net margin of 19.96% and a return on equity of 68.44%. The business’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.35 EPS. Automatic Data Processing has set its FY 2026 guidance at 10.091-11.011 EPS. On average, equities research analysts anticipate that Automatic Data Processing will post 10.96 EPS for the current year.

Automatic Data Processing announced that its Board of Directors has initiated a share repurchase plan on Wednesday, January 14th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the business services provider to buy up to 5.8% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, VP Brian L. Michaud sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $234.18, for a total value of $234,180.00. Following the sale, the vice president owned 15,310 shares of the company’s stock, valued at $3,585,295.80. The trade was a 6.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Christopher D’ambrosio sold 543 shares of the business’s stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $208.45, for a total value of $113,188.35. Following the completion of the sale, the vice president directly owned 8,912 shares in the company, valued at approximately $1,857,706.40. The trade was a 5.74% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,809 shares of company stock valued at $410,410 over the last quarter. 0.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Automatic Data Processing

Institutional investors have recently modified their holdings of the business. Imprint Wealth LLC acquired a new position in shares of Automatic Data Processing in the third quarter worth $25,000. TruNorth Capital Management LLC acquired a new position in shares of Automatic Data Processing in the third quarter worth $28,000. Cloud Capital Management LLC acquired a new position in shares of Automatic Data Processing in the third quarter worth $29,000. Cornerstone Financial Management LLC acquired a new position in shares of Automatic Data Processing in the fourth quarter worth $26,000. Finally, Y.D. More Investments Ltd acquired a new position in shares of Automatic Data Processing in the third quarter worth $32,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

About Automatic Data Processing

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.