Barclays Believes Automatic Data Processing (ADP) Won’t Stop Here

Barclays analyst Ramsey El Assal maintained a Buy rating on Automatic Data Processing (ADPResearch Report) on July 29 and set a price target of $280.00. The company’s shares closed last Friday at $241.12, close to its 52-week high of $248.96.

According to TipRanks.com, Assal is a 3-star analyst with an average return of 2.3% and a 50.6% success rate. Assal covers the Technology sector, focusing on stocks such as TELUS International (CDA), Fidelity National Info, and Rackspace Technology.

The word on The Street in general, suggests a Hold analyst consensus rating for Automatic Data Processing with a $240.88 average price target, a 0.5% upside from current levels. In a report issued on July 27, Mizuho Securities also maintained a Buy rating on the stock with a $250.00 price target.

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Automatic Data Processing’s market cap is currently $100.7B and has a P/E ratio of 34.41.

Based on the recent corporate insider activity of 89 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ADP in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Automatic Data Processing, Inc. is one of the leading providers of cloud-based human resources management solutions worldwide. The company has two operating business segments – Employer Services and Professional Employer Organization (PEO). Under the Employer Services segment, the company provides payroll, talent management, benefits administration, workforce management, HR management, insurance, retirement, and compliance services to clients with workforces ranging from a single employee to tens of thousands of staff members across the world. Under its PEO services division, it offers HR outsourcing solutions to small and mid-sized businesses through a co-employment model.

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