Automatic Data Processing (NASDAQ:ADP) was downgraded by analysts at Evercore ISI from an “outperform” rating to an “underperform” rating in a report issued on Tuesday, AR Network reports. They presently have a $143.00 price objective on the business services provider’s stock, down from their previous price objective of $197.00. Evercore ISI’s price target would suggest a potential downside of 13.15% from the company’s current price.
A number of other brokerages have also recently commented on ADP. Jefferies Financial Group increased their target price on Automatic Data Processing from $135.00 to $168.00 and gave the company a “hold” rating in a report on Wednesday, October 28th. Barclays increased their price objective on Automatic Data Processing from $145.00 to $180.00 and gave the company an “overweight” rating in a research note on Monday, November 2nd. Wells Fargo & Company assumed coverage on shares of Automatic Data Processing in a research note on Friday, December 18th. They set an “overweight” rating and a $200.00 target price on the stock. BMO Capital Markets increased their target price on shares of Automatic Data Processing from $149.00 to $165.00 and gave the company a “market perform” rating in a research report on Thursday, October 29th. Finally, Zacks Investment Research upgraded shares of Automatic Data Processing from a “sell” rating to a “hold” rating and set a $146.00 price target on the stock in a research report on Wednesday, September 30th. Four equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the company. Automatic Data Processing currently has a consensus rating of “Hold” and an average target price of $158.00.
Shares of ADP stock opened at $164.66 on Tuesday. Automatic Data Processing has a 1-year low of $103.11 and a 1-year high of $182.32. The company has a market cap of $70.61 billion, a price-to-earnings ratio of 28.59, a PEG ratio of 2.53 and a beta of 0.70. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.08 and a quick ratio of 1.08. The stock has a 50 day simple moving average of $174.09 and a 200-day simple moving average of $153.43.
In other news, VP Deborah L. Dyson sold 600 shares of the business’s stock in a transaction that occurred on Monday, January 11th. The shares were sold at an average price of $170.93, for a total value of $102,558.00. Following the sale, the vice president now directly owns 24,786 shares of the company’s stock, valued at approximately $4,236,670.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Joseph Desilva sold 450 shares of the company’s stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $160.00, for a total transaction of $72,000.00. Following the completion of the transaction, the vice president now owns 2,855 shares in the company, valued at $456,800. The disclosure for this sale can be found here. In the last three months, insiders have sold 77,731 shares of company stock valued at $12,957,058. 0.34% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Bainco International Investors acquired a new stake in shares of Automatic Data Processing during the fourth quarter worth about $34,000. Glassman Wealth Services lifted its holdings in Automatic Data Processing by 67.8% during the 3rd quarter. Glassman Wealth Services now owns 198 shares of the business services provider’s stock worth $28,000 after buying an additional 80 shares in the last quarter. Advisory Alpha LLC purchased a new position in Automatic Data Processing in the 3rd quarter valued at approximately $29,000. Sun Life Financial INC acquired a new position in shares of Automatic Data Processing in the third quarter worth $36,000. Finally, ELM Advisors LLC purchased a new stake in shares of Automatic Data Processing during the fourth quarter worth $48,000. 79.65% of the stock is owned by institutional investors and hedge funds.
About Automatic Data Processing
Automatic Data Processing, Inc provides cloud-based human capital management solutions worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO). The Employer Services segment offers strategic, cloud-based platforms, and human resources (HR) outsourcing solutions.
Read More: Analyzing a company’s cash flow statement
Receive News & Ratings for Automatic Data Processing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Automatic Data Processing and related companies with MarketBeat.com's FREE daily email newsletter.