Automatic Data Processing, Inc. (NYSE:ADP) Downgraded by BidaskClub to Hold

Automatic Data Processing, Inc. (NASDAQ:ADP) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday, November 8th.

A number of other research firms have also commented on ADP. BMO Capital Markets dropped their price target on Automatic Data Processing from $122.00 to $114.00 and set an “outperform” rating on the stock in a research report on Friday, November 3rd. Morgan Stanley lowered Automatic Data Processing from an “equal weight” rating to an “underweight” rating and lifted their target price for the company from $98.00 to $100.00 in a research report on Thursday, August 3rd. Bank of America Corporation boosted their price target on Automatic Data Processing from $111.00 to $114.00 and gave the stock a “neutral” rating in a research report on Friday, October 13th. Barclays PLC reaffirmed an “equal weight” rating and set a $105.00 price target on shares of Automatic Data Processing in a research report on Tuesday, August 15th. Finally, Citigroup Inc. reiterated a “neutral” rating and set a $110.00 target price (up from $98.00) on shares of Automatic Data Processing in a research note on Thursday, August 17th. Thirteen analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Automatic Data Processing has an average rating of “Hold” and a consensus target price of $112.37.

Shares of Automatic Data Processing (NASDAQ:ADP) traded up $0.12 during midday trading on Wednesday, hitting $110.14. The company had a trading volume of 1,466,782 shares, compared to its average volume of 2,870,953. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $48,792.77, a price-to-earnings ratio of 29.42, a price-to-earnings-growth ratio of 2.82 and a beta of 0.87. Automatic Data Processing has a twelve month low of $94.11 and a twelve month high of $121.77.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Thursday, November 2nd. The business services provider reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.06. The firm had revenue of $3.08 billion during the quarter, compared to analyst estimates of $3.06 billion. Automatic Data Processing had a return on equity of 42.34% and a net margin of 14.08%. The business’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.86 earnings per share. equities analysts anticipate that Automatic Data Processing will post 3.91 EPS for the current year.

In other news, VP Maria Black sold 631 shares of the firm’s stock in a transaction on Saturday, September 2nd. The stock was sold at an average price of $106.64, for a total value of $67,289.84. Following the completion of the transaction, the vice president now directly owns 10,550 shares of the company’s stock, valued at $1,125,052. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Brock Albinson sold 3,663 shares of Automatic Data Processing stock in a transaction on Friday, September 1st. The shares were sold at an average price of $106.54, for a total value of $390,256.02. Following the sale, the vice president now directly owns 6,287 shares of the company’s stock, valued at approximately $669,816.98. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in ADP. Mutual of America Capital Management LLC raised its stake in Automatic Data Processing by 2.7% during the 1st quarter. Mutual of America Capital Management LLC now owns 54,242 shares of the business services provider’s stock valued at $5,554,000 after buying an additional 1,434 shares during the last quarter. Intellectus Partners LLC increased its stake in shares of Automatic Data Processing by 1.6% in the 1st quarter. Intellectus Partners LLC now owns 7,137 shares of the business services provider’s stock worth $735,000 after purchasing an additional 110 shares in the last quarter. Segment Wealth Management LLC increased its stake in shares of Automatic Data Processing by 2.4% in the 1st quarter. Segment Wealth Management LLC now owns 28,700 shares of the business services provider’s stock worth $2,939,000 after purchasing an additional 672 shares in the last quarter. Buckingham Asset Management LLC increased its stake in shares of Automatic Data Processing by 2.0% in the 1st quarter. Buckingham Asset Management LLC now owns 3,844 shares of the business services provider’s stock worth $394,000 after purchasing an additional 77 shares in the last quarter. Finally, Ffcm LLC increased its stake in shares of Automatic Data Processing by 8.5% in the 1st quarter. Ffcm LLC now owns 27,953 shares of the business services provider’s stock worth $2,862,000 after purchasing an additional 2,198 shares in the last quarter. Hedge funds and other institutional investors own 78.41% of the company’s stock.

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Automatic Data Processing Company Profile

Automatic Data Processing, Inc (ADP) is a provider of human capital management (HCM) solutions to employers, offering solutions to businesses of various sizes. The Company also provides business process outsourcing solutions. Its segments include Employer Services and Professional Employer Organization (PEO) Services.

Analyst Recommendations for Automatic Data Processing (NASDAQ:ADP)

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