Automatic Data Processing (NASDAQ:ADP) had its price target decreased by analysts at Stifel Nicolaus from $155.00 to $142.00 in a research report issued on Thursday, BenzingaRatingsTable reports. The firm presently has a “hold” rating on the business services provider’s stock. Stifel Nicolaus’ price target suggests a potential upside of 6.84% from the stock’s current price.
Several other equities analysts have also commented on ADP. UBS Group upgraded Automatic Data Processing from a “sell” rating to a “neutral” rating in a research note on Wednesday, April 1st. Bank of America downgraded Automatic Data Processing from a “neutral” rating to an “underperform” rating and set a $132.00 price target for the company. in a research report on Monday, May 18th. Cfra lowered their price target on Automatic Data Processing from $176.00 to $161.00 and set a “hold” rating for the company in a research report on Wednesday, April 29th. BMO Capital Markets lowered their price target on Automatic Data Processing from $179.00 to $154.00 and set a “market perform” rating for the company in a research report on Thursday, April 30th. Finally, Morgan Stanley boosted their price target on Automatic Data Processing from $140.00 to $147.00 and gave the company an “equal weight” rating in a research report on Thursday, April 30th. Five equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $158.93.
NASDAQ ADP opened at $132.91 on Thursday. Automatic Data Processing has a fifty-two week low of $103.11 and a fifty-two week high of $182.32. The stock has a market cap of $57.11 billion, a price-to-earnings ratio of 23.32, a price-to-earnings-growth ratio of 2.22 and a beta of 0.82. The business has a fifty day moving average of $147.29 and a 200-day moving average of $150.95. The company has a quick ratio of 1.03, a current ratio of 1.05 and a debt-to-equity ratio of 0.23.
Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, July 29th. The business services provider reported $1.14 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.96 by $0.18. Automatic Data Processing had a return on equity of 46.66% and a net margin of 16.91%. The company had revenue of $3.40 billion during the quarter, compared to analysts’ expectations of $3.32 billion. During the same period in the previous year, the firm posted $1.14 earnings per share. The business’s revenue for the quarter was down 2.8% compared to the same quarter last year. As a group, analysts anticipate that Automatic Data Processing will post 4.99 EPS for the current year.
In other Automatic Data Processing news, VP Brian L. Michaud sold 250 shares of the company’s stock in a transaction that occurred on Friday, July 10th. The stock was sold at an average price of $145.00, for a total transaction of $36,250.00. Following the sale, the vice president now owns 5,162 shares in the company, valued at $748,490. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.31% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in ADP. Valmark Advisers Inc. raised its position in shares of Automatic Data Processing by 3.0% during the 2nd quarter. Valmark Advisers Inc. now owns 3,752 shares of the business services provider’s stock worth $559,000 after purchasing an additional 111 shares during the period. Carolina Wealth Advisors LLC acquired a new stake in shares of Automatic Data Processing during the 2nd quarter worth approximately $2,516,000. Sigma Planning Corp raised its position in shares of Automatic Data Processing by 0.8% during the 2nd quarter. Sigma Planning Corp now owns 12,947 shares of the business services provider’s stock worth $1,928,000 after purchasing an additional 100 shares during the period. Flagship Harbor Advisors LLC raised its position in shares of Automatic Data Processing by 5.8% during the 2nd quarter. Flagship Harbor Advisors LLC now owns 3,528 shares of the business services provider’s stock worth $525,000 after purchasing an additional 192 shares during the period. Finally, PAX Financial Group LLC acquired a new stake in shares of Automatic Data Processing during the 2nd quarter worth approximately $494,000. Hedge funds and other institutional investors own 79.82% of the company’s stock.
Automatic Data Processing Company Profile
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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