Automatic Data Processing Inc. (NASDAQ:ADP) was downgraded by equities researchers at Vetr from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Wednesday. They currently have a $96.54 price target on the stock.

Several other research firms have also recently issued reports on ADP. Sanford C. Bernstein upgraded shares of Automatic Data Processing from a “mkt perform” rating to an “outperform” rating in a research note on Monday, July 11th. Robert W. Baird cut shares of Automatic Data Processing from an “outperform” rating to a “neutral” rating and set a $94.00 target price for the company. in a research note on Friday, July 29th. Citigroup Inc. boosted their target price on shares of Automatic Data Processing from $89.00 to $90.00 and gave the company a “neutral” rating in a research note on Friday, July 29th. Jefferies Group boosted their target price on shares of Automatic Data Processing from $75.00 to $81.00 and gave the company an “underperform” rating in a research note on Monday, August 1st. Finally, Wedbush initiated coverage on shares of Automatic Data Processing in a research note on Friday, September 9th. They issued a “neutral” rating and a $100.00 target price for the company. Four research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. Automatic Data Processing presently has an average rating of “Hold” and an average price target of €90.95 ($101.06).

Automatic Data Processing (NASDAQ:ADP) opened at 87.79 on Wednesday. Automatic Data Processing has a 52 week low of $76.65 and a 52 week high of $96.00. The firm has a 50 day moving average of $89.10 and a 200-day moving average of $89.31. The stock has a market capitalization of $40.05 billion, a PE ratio of 27.03 and a beta of 0.81.

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Several large investors have recently modified their holdings of ADP. Investec Asset Management LTD acquired a new stake in shares of Automatic Data Processing during the first quarter worth approximately $80,120,000. TIAA CREF Investment Management LLC boosted its stake in shares of Automatic Data Processing by 45.2% in the first quarter. TIAA CREF Investment Management LLC now owns 2,613,512 shares of the company’s stock worth $234,458,000 after buying an additional 813,121 shares during the period. Wellington Management Group LLP boosted its stake in shares of Automatic Data Processing by 4.5% in the first quarter. Wellington Management Group LLP now owns 15,124,721 shares of the company’s stock worth $1,356,838,000 after buying an additional 648,854 shares during the period. BlackRock Fund Advisors boosted its stake in shares of Automatic Data Processing by 7.8% in the first quarter. BlackRock Fund Advisors now owns 7,661,029 shares of the company’s stock worth $687,271,000 after buying an additional 555,545 shares during the period. Finally, Adage Capital Partners GP L.L.C. boosted its stake in shares of Automatic Data Processing by 130.0% in the first quarter. Adage Capital Partners GP L.L.C. now owns 832,300 shares of the company’s stock worth $74,666,000 after buying an additional 470,500 shares during the period. Institutional investors and hedge funds own 76.80% of the company’s stock.

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.

5 Day Chart for NASDAQ:ADP

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