Equities research analysts at Cowen initiated coverage on shares of Automatic Data Processing (NASDAQ:ADP) in a research note issued on Wednesday, The Fly reports. The brokerage set an “outperform” rating and a $195.00 price target on the business services provider’s stock. Cowen’s price target points to a potential upside of 21.40% from the company’s current price.

Several other equities analysts also recently commented on the stock. Barclays upped their price target on shares of Automatic Data Processing from $180.00 to $190.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Robert W. Baird upped their price target on shares of Automatic Data Processing from $167.00 to $178.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. upped their price target on shares of Automatic Data Processing from $170.00 to $177.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Jefferies Financial Group upped their price target on shares of Automatic Data Processing to $176.00 and gave the company a “hold” rating in a report on Wednesday, July 31st. Finally, Zacks Investment Research upgraded shares of Automatic Data Processing from a “hold” rating to a “buy” rating and set a $179.00 price target on the stock in a report on Friday, June 21st. Ten investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Automatic Data Processing has an average rating of “Hold” and a consensus target price of $176.10.

Shares of Automatic Data Processing stock traded up $0.21 during trading hours on Wednesday, reaching $160.62. The company’s stock had a trading volume of 44,832 shares, compared to its average volume of 1,601,119. The stock has a market cap of $71.31 billion, a P/E ratio of 29.45, a P/E/G ratio of 2.05 and a beta of 0.90. Automatic Data Processing has a one year low of $121.40 and a one year high of $174.50. The firm has a 50 day moving average price of $167.45 and a 200-day moving average price of $162.56. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.05 and a quick ratio of 1.05.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, July 31st. The business services provider reported $1.14 EPS for the quarter, beating the consensus estimate of $1.13 by $0.01. The company had revenue of $3.50 billion for the quarter, compared to the consensus estimate of $3.50 billion. Automatic Data Processing had a net margin of 16.17% and a return on equity of 47.48%. The firm’s revenue was up 5.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.99 EPS. As a group, sell-side analysts forecast that Automatic Data Processing will post 6.16 EPS for the current fiscal year.

In other news, VP Dermot J. O’brien sold 1,771 shares of the company’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $162.04, for a total value of $286,972.84. Following the completion of the sale, the vice president now owns 14,896 shares of the company’s stock, valued at approximately $2,413,747.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Carlos A. Rodriguez sold 49,392 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $161.70, for a total transaction of $7,986,686.40. Following the completion of the sale, the chief executive officer now directly owns 132,338 shares of the company’s stock, valued at approximately $21,399,054.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 57,846 shares of company stock valued at $9,395,534. 0.33% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in ADP. Comerica Securities Inc. increased its holdings in shares of Automatic Data Processing by 411.2% in the 4th quarter. Comerica Securities Inc. now owns 42,538 shares of the business services provider’s stock worth $5,611,000 after buying an additional 34,216 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Automatic Data Processing by 8.6% in the 4th quarter. Geode Capital Management LLC now owns 6,258,804 shares of the business services provider’s stock worth $819,520,000 after buying an additional 496,843 shares during the last quarter. Pinnacle Financial Partners Inc. increased its holdings in shares of Automatic Data Processing by 14.8% in the 1st quarter. Pinnacle Financial Partners Inc. now owns 57,256 shares of the business services provider’s stock worth $9,146,000 after buying an additional 7,394 shares during the last quarter. German American Bancorp Inc. bought a new stake in shares of Automatic Data Processing in the 1st quarter worth about $205,000. Finally, Mackey Komara & Dankovich LLC bought a new stake in shares of Automatic Data Processing in the 1st quarter worth about $33,000. 80.22% of the stock is owned by hedge funds and other institutional investors.

About Automatic Data Processing

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

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Analyst Recommendations for Automatic Data Processing (NASDAQ:ADP)

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