Vetr Inc. Upgrades Automatic Data Processing Inc. (ADP) to Strong-Buy
Automatic Data Processing Inc. (NASDAQ:ADP) was upgraded by research analysts at Vetr from a “buy” rating to a “strong-buy” rating in a report released on Tuesday. The firm presently has a $97.81 price target on the stock.
ADP has been the topic of a number of other research reports. Sanford C. Bernstein raised shares of Automatic Data Processing from a “mkt perform” rating to an “outperform” rating in a research note on Monday, July 11th. Wedbush assumed coverage on shares of Automatic Data Processing in a research note on Friday, September 9th. They set a “neutral” rating and a $100.00 target price on the stock. Jefferies Group boosted their target price on shares of Automatic Data Processing from $75.00 to $81.00 and gave the stock an “underperform” rating in a research note on Monday, August 1st. Citigroup Inc. boosted their target price on shares of Automatic Data Processing from $89.00 to $90.00 and gave the stock a “neutral” rating in a research note on Friday, July 29th. Finally, Robert W. Baird cut shares of 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. 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 issued a strong buy rating to the stock. Automatic Data Processing presently has a consensus rating of “Hold” and an average target price of €91.08 ($101.20).
Shares of Automatic Data Processing (NASDAQ:ADP) traded down 1.91% during mid-day trading on Tuesday, reaching $86.09. The company had a trading volume of 1,963,464 shares. The firm has a market capitalization of $39.27 billion, a price-to-earnings ratio of 26.51 and a beta of 0.82. The stock has a 50 day moving average of $88.38 and a 200-day moving average of $89.34. Automatic Data Processing has a one year low of $76.65 and a one year high of $96.00.
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A number of institutional investors have recently added to or reduced their stakes in the stock. Clear Harbor Asset Management LLC purchased a new position in Automatic Data Processing during the first quarter valued at about $201,000. Haverford Financial Services Inc. bought a new position in shares of Automatic Data Processing during the first quarter valued at $213,000. NorthRock Partners LLC raised its position in shares of Automatic Data Processing by 2.4% in the first quarter. NorthRock Partners LLC now owns 2,491 shares of the company’s stock valued at $225,000 after buying an additional 59 shares in the last quarter. NN Investment Partners Holdings N.V. bought a new position in shares of Automatic Data Processing during the first quarter valued at $240,000. Finally, Smith Moore & CO. bought a new position in shares of Automatic Data Processing during the first quarter valued at $256,000. Institutional investors and hedge funds own 77.19% 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.
To view Vetr’s full report, visit Vetr’s official website.
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