Automatic Data Processing Inc. (ADP) Upgraded to Strong-Buy by Vetr Inc.
Automatic Data Processing Inc. (NASDAQ:ADP) was upgraded by equities research analysts at Vetr from a “buy” rating to a “strong-buy” rating in a research report issued on Tuesday. The firm currently has a $97.00 price target on the stock.
A number of other research analysts also recently issued reports on ADP. Citigroup Inc. raised their price target on Automatic Data Processing from $89.00 to $90.00 and gave the stock a “neutral” rating in a research note on Friday, July 29th. Jefferies Group lifted their target price on Automatic Data Processing from $75.00 to $81.00 and gave the company an “underperform” rating in a research note on Monday, August 1st. Robert W. Baird downgraded Automatic Data Processing from an “outperform” rating to a “neutral” rating and set a $94.00 target price on the stock. in a research note on Friday, July 29th. Wedbush assumed coverage on Automatic Data Processing in a research note on Friday, September 9th. They issued a “neutral” rating and a $100.00 target price on the stock. Finally, Sanford C. Bernstein upgraded Automatic Data Processing from a “mkt perform” rating to an “outperform” rating in a research note on Monday, July 11th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Automatic Data Processing presently has an average rating of “Hold” and an average price target of €91.00 ($101.11).
Shares of Automatic Data Processing (NASDAQ:ADP) traded up 0.94% during trading on Tuesday, reaching $87.37. 161,366 shares of the company traded hands. The stock has a market capitalization of $39.86 billion, a PE ratio of 26.90 and a beta of 0.81. The firm’s 50-day moving average is $89.12 and its 200-day moving average is $89.30. Automatic Data Processing has a 12-month low of $76.65 and a 12-month high of $96.00.
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A number of institutional investors have recently modified their holdings of the company. Clear Harbor Asset Management LLC bought a new position in Automatic Data Processing during the first quarter worth $201,000. Haverford Financial Services Inc. bought a new position in Automatic Data Processing during the first quarter worth $213,000. NorthRock Partners LLC boosted its position in Automatic Data Processing by 2.4% in the first quarter. NorthRock Partners LLC now owns 2,491 shares of the company’s stock worth $225,000 after buying an additional 59 shares during the period. NN Investment Partners Holdings N.V. bought a new position in Automatic Data Processing during the first quarter worth $240,000. Finally, Smith Moore & CO. bought a new position in Automatic Data Processing during the first quarter worth $256,000. 76.80% of the stock is owned by hedge funds and other institutional investors.
About Automatic Data Processing
Automatic Data Processing, Inc (ADP) is a provider of human capital management (HCM) solutions and business process outsourcing. The Company operates through two segments: Employer Services and Professional Employer Organization (PEO) Services. The Employer Services segment offers a range of business outsourcing and technology-enabled HCM solutions.
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