Automatic Data Processing (NYSE:ADP) was downgraded by equities researchers at William Blair from an “outperform” rating to a “market perform” rating in a research report issued on Friday, MarketBeat Ratings reports.

ADP has been the subject of several other reports. Barclays PLC reiterated a “buy” rating on shares of Automatic Data Processing in a research note on Thursday, April 27th. Evercore ISI lowered Automatic Data Processing from an “in-line” rating to an “underperform” rating and set a $85.00 price objective for the company. in a research note on Friday, June 2nd. Goldman Sachs Group, Inc. (The) lowered Automatic Data Processing from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $115.00 to $108.00 in a research note on Tuesday, June 20th. BidaskClub lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Finally, Zacks Investment Research lowered Automatic Data Processing from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the stock. Automatic Data Processing currently has an average rating of “Hold” and an average price target of $98.43.

Shares of Automatic Data Processing (ADP) traded up 1.20% during trading on Friday, hitting $104.58. 3,722,249 shares of the stock traded hands. The firm’s 50-day moving average price is $102.19 and its 200-day moving average price is $101.71. The company has a market cap of $46.79 billion and a price-to-earnings ratio of 27.06. Automatic Data Processing has a 52 week low of $85.48 and a 52 week high of $105.68.

Automatic Data Processing (NYSE:ADP) last released its quarterly earnings data on Wednesday, May 3rd. The business services provider reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.08. Automatic Data Processing had a return on equity of 59.56% and a net margin of 17.24%. The firm had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.42 billion. During the same period in the prior year, the company posted $1.17 earnings per share. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. On average, equities research analysts anticipate that Automatic Data Processing will post $3.71 earnings per share for the current year.

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In related news, insider Michael A. Bonarti sold 2,932 shares of the firm’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $101.98, for a total value of $299,005.36. Following the transaction, the insider now owns 46,256 shares in the company, valued at $4,717,186.88. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Carlos A. Rodriguez sold 49,392 shares of the firm’s stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $100.01, for a total value of $4,939,693.92. Following the completion of the transaction, the chief executive officer now owns 159,403 shares in the company, valued at approximately $15,941,894.03. The disclosure for this sale can be found here. Insiders have sold 54,257 shares of company stock worth $5,435,827 in the last 90 days.

A number of institutional investors have recently bought and sold shares of ADP. Copeland Capital Management LLC boosted its position in Automatic Data Processing by 0.3% in the second quarter. Copeland Capital Management LLC now owns 11,530 shares of the business services provider’s stock valued at $1,181,000 after buying an additional 37 shares in the last quarter. Delta Asset Management LLC TN boosted its position in Automatic Data Processing by 5.2% in the second quarter. Delta Asset Management LLC TN now owns 2,858 shares of the business services provider’s stock valued at $293,000 after buying an additional 141 shares in the last quarter. Bridges Investment Counsel Inc. boosted its position in Automatic Data Processing by 80.3% in the second quarter. Bridges Investment Counsel Inc. now owns 3,975 shares of the business services provider’s stock valued at $407,000 after buying an additional 1,770 shares in the last quarter. Financial Architects Inc boosted its position in Automatic Data Processing by 0.6% in the second quarter. Financial Architects Inc now owns 16,033 shares of the business services provider’s stock valued at $1,643,000 after buying an additional 100 shares in the last quarter. Finally, APG Asset Management N.V. boosted its position in Automatic Data Processing by 59.3% in the second quarter. APG Asset Management N.V. now owns 1,766,271 shares of the business services provider’s stock valued at $180,972,000 after buying an additional 657,209 shares in the last quarter.

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 (NYSE:ADP)

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