Automatic Data Processing (NASDAQ:ADP) Downgraded to “Hold” at StockNews.com

Automatic Data Processing (NASDAQ:ADP) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a report released on Tuesday.

ADP has been the subject of several other research reports. Evercore ISI boosted their target price on shares of Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a research report on Tuesday, March 26th. Mizuho boosted their target price on shares of Automatic Data Processing from $265.00 to $272.00 and gave the stock a “buy” rating in a research report on Monday, March 11th. JPMorgan Chase & Co. dropped their target price on shares of Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating for the company in a research report on Thursday, May 2nd. Barclays lifted their price target on shares of Automatic Data Processing from $280.00 to $282.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Finally, TD Cowen decreased their price target on shares of Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating for the company in a report on Thursday, May 2nd. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $255.42.

Automatic Data Processing Stock Up 0.4 %

NASDAQ:ADP traded up $0.96 on Tuesday, reaching $236.63. The stock had a trading volume of 1,276,975 shares, compared to its average volume of 1,695,143. The company has a 50-day moving average of $245.58 and a 200 day moving average of $243.86. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.65. The stock has a market cap of $96.85 billion, a P/E ratio of 26.41, a price-to-earnings-growth ratio of 2.62 and a beta of 0.78. Automatic Data Processing has a 12-month low of $205.53 and a 12-month high of $256.84.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, May 1st. The business services provider reported $2.88 EPS for the quarter, beating analysts’ consensus estimates of $2.79 by $0.09. Automatic Data Processing had a return on equity of 93.09% and a net margin of 19.56%. The firm had revenue of $5.30 billion during the quarter, compared to the consensus estimate of $5.22 billion. During the same quarter in the prior year, the business posted $2.52 earnings per share. Automatic Data Processing’s revenue for the quarter was up 7.6% on a year-over-year basis. On average, research analysts predict that Automatic Data Processing will post 9.16 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Heritage Investment Group Inc. boosted its holdings in shares of Automatic Data Processing by 1.9% during the 4th quarter. Heritage Investment Group Inc. now owns 2,201 shares of the business services provider’s stock worth $513,000 after buying an additional 41 shares during the period. Bedel Financial Consulting Inc. boosted its holdings in Automatic Data Processing by 0.8% in the 4th quarter. Bedel Financial Consulting Inc. now owns 5,254 shares of the business services provider’s stock valued at $1,224,000 after purchasing an additional 42 shares during the period. Argus Investors Counsel Inc. boosted its holdings in Automatic Data Processing by 0.5% in the 4th quarter. Argus Investors Counsel Inc. now owns 8,863 shares of the business services provider’s stock valued at $2,065,000 after purchasing an additional 43 shares during the period. Prestige Wealth Management Group LLC boosted its holdings in Automatic Data Processing by 0.8% in the 1st quarter. Prestige Wealth Management Group LLC now owns 5,581 shares of the business services provider’s stock valued at $1,402,000 after purchasing an additional 43 shares during the period. Finally, Patron Partners LLC boosted its holdings in Automatic Data Processing by 1.6% in the 1st quarter. Patron Partners LLC now owns 2,733 shares of the business services provider’s stock valued at $683,000 after purchasing an additional 44 shares during the period. 80.03% 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 in two segments, Employer Services and Professional Employer Organization (PEO). The Employer Services segment offers strategic, cloud-based platforms, and human resources (HR) outsourcing solutions.