Automatic Data Processing (NASDAQ:ADP – Get Free Report) was upgraded to a “buy” rating from a “hold” rating by analysts at StockNews.com in a report released Wednesday.

Several other research firms have also recently weighed in on ADP. Royal Bank of Canada affirmed a “sector perform” rating and set a $267.00 price target on shares of Automatic Data Processing in a research note on Thursday, August 1st. Barclays increased their price target on shares of Automatic Data Processing from $282.00 to $310.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. JPMorgan Chase & Co. increased their price target on shares of Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a report on Tuesday. Stifel Nicolaus increased their price target on shares of Automatic Data Processing from $271.00 to $287.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Finally, Bank of America raised their price objective on shares of Automatic Data Processing from $250.00 to $267.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $265.36.

View our latest report on automatic data processing

Automatic data processing Inventory increases by 0.6%

Shares of NASDAQ ADP opened at $269.38 on Wednesday. The company has a 50-day simple moving average of $249.95 and a 200-day simple moving average of $248.03. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.01 and a quick ratio of 1.01. Automatic Data Processing has a 1-year low of $205.53 and a 1-year high of $269.58. The company has a market cap of $110.25 billion, a price/earnings ratio of 30.06, a PEG ratio of 2.72 and a beta of 0.78.

Automatic Data Processing (NASDAQ:ADP – Get Free Report) last released its quarterly earnings results on Wednesday, July 31. The professional services company reported $2.09 EPS for the quarter, topping the consensus estimate of $2.06 by $0.03. Automatic Data Processing had a net margin of 19.54% and a return on equity of 89.20%. The company had revenue of $4.80 billion during the quarter, compared to the consensus estimate of $4.74 billion. During the same quarter a year ago, the company reported $1.89 EPS. The company’s revenue increased 7.2% year over year. Research analysts expect Automatic Data Processing to post 10.01 EPS for the current year.

Hedge funds weigh in on automated data processing

Institutional investors and hedge funds have recently bought and sold shares of the company. Kiely Wealth Advisory Group Inc. purchased a new stake in shares of Automatic Data Processing during the second quarter worth $27,000. Keener Financial Planning LLC increased its holdings in shares of Automatic Data Processing by 230.3% during the first quarter. Keener Financial Planning LLC now owns 109 shares of the professional services provider’s stock worth $28,000 after purchasing an additional 76 shares during the last quarter. Crewe Advisors LLC purchased a new stake in shares of Automatic Data Processing during the first quarter worth $33,000. Pathway Financial Advisers LLC purchased a new stake in shares of Automatic Data Processing during the first quarter worth $36,000. Finally, Pineridge Advisors LLC purchased a new stake in shares of Automatic Data Processing during the fourth quarter worth $39,000. 80.03% of the shares are held by hedge funds and other institutional investors.

Automatic data processing Company profile

(Get free report)

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

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