Royal Bank Of Canada Lowers Automatic Data Processing, Inc. (NYSE:ADP) Price Target to $95.00

Automatic Data Processing, Inc. (NASDAQ:ADP) had its price target cut by stock analysts at Royal Bank Of Canada from $100.00 to $95.00 in a research report issued to clients and investors on Monday, November 6th, Marketbeat reports. The firm presently has a “sector perform” rating on the business services provider’s stock. Royal Bank Of Canada’s price objective points to a potential downside of 13.65% from the company’s previous close.

Other research analysts have also issued research reports about the stock. BidaskClub upgraded shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. Argus raised their price objective on shares of Automatic Data Processing from $118.00 to $130.00 and gave the company a “buy” rating in a report on Thursday, August 3rd. Zacks Investment Research upgraded shares of Automatic Data Processing from a “hold” rating to a “buy” rating and set a $128.00 price objective for the company in a report on Monday, October 16th. Barclays PLC restated an “equal weight” rating and set a $105.00 price target on shares of Automatic Data Processing in a report on Tuesday, August 15th. Finally, Stifel Nicolaus restated a “hold” rating and set a $108.00 price target (up previously from $103.00) on shares of Automatic Data Processing in a report on Sunday, July 30th. Thirteen equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $112.37.

Automatic Data Processing (NASDAQ:ADP) traded down $0.19 on Monday, hitting $110.02. 868,554 shares of the stock were exchanged, compared to its average volume of 1,980,000. Automatic Data Processing has a one year low of $94.11 and a one year high of $121.77. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.51. The firm has a market cap of $48,710.00, a P/E ratio of 29.47, a P/E/G ratio of 2.82 and a beta of 0.88.

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

In related news, 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 completion of the sale, the vice president now owns 6,287 shares of the company’s stock, valued at approximately $669,816.98. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Maria Black sold 631 shares of Automatic Data Processing stock in a transaction on Saturday, September 2nd. The shares were sold at an average price of $106.64, for a total transaction of $67,289.84. Following the completion of the sale, the vice president now directly owns 10,550 shares of the company’s stock, valued at approximately $1,125,052. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in Automatic Data Processing by 2.4% during the 2nd quarter. Vanguard Group Inc. now owns 34,999,981 shares of the business services provider’s stock worth $3,586,099,000 after acquiring an additional 811,960 shares during the last quarter. BlackRock Inc. raised its stake in shares of Automatic Data Processing by 0.8% during the 2nd quarter. BlackRock Inc. now owns 29,869,208 shares of the business services provider’s stock worth $3,060,398,000 after purchasing an additional 237,439 shares during the period. Pershing Square Capital Management L.P. raised its stake in shares of Automatic Data Processing by 402.5% during the 3rd quarter. Pershing Square Capital Management L.P. now owns 8,798,442 shares of the business services provider’s stock worth $961,846,000 after purchasing an additional 7,047,575 shares during the period. Alliancebernstein L.P. raised its stake in shares of Automatic Data Processing by 6.2% during the 1st quarter. Alliancebernstein L.P. now owns 8,345,691 shares of the business services provider’s stock worth $854,515,000 after purchasing an additional 485,320 shares during the period. Finally, Polen Capital Management LLC raised its stake in shares of Automatic Data Processing by 2.3% during the 3rd quarter. Polen Capital Management LLC now owns 6,813,929 shares of the business services provider’s stock worth $744,899,000 after purchasing an additional 152,027 shares during the period. 78.41% of the stock is currently owned by hedge funds and other institutional investors.

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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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