Automatic Data Processing (NYSE:ADP)‘s stock had its “equal weight” rating reaffirmed by equities researchers at Barclays PLC in a report released on Tuesday. They currently have a $105.00 price target on the business services provider’s stock. Barclays PLC’s price target would indicate a potential downside of 5.90% from the stock’s previous close.

A number of other equities research analysts have also recently issued reports on ADP. Argus dropped their target price on shares of Automatic Data Processing from $118.00 to $101.50 and set a “buy” rating on the stock in a report on Wednesday, May 31st. Evercore ISI reaffirmed an “underperform” rating and issued a $85.00 target price on shares of Automatic Data Processing in a report on Friday, June 2nd. Goldman Sachs Group, Inc. (The) cut shares of Automatic Data Processing from a “buy” rating to a “neutral” rating and dropped their target price for the company from $115.00 to $108.00 in a report on Tuesday, June 20th. Zacks Investment Research cut shares of Automatic Data Processing from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. Finally, BidaskClub cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $104.96.

Shares of Automatic Data Processing (NYSE:ADP) traded up 1.72% during midday trading on Tuesday, hitting $111.58. The stock had a trading volume of 5,796,206 shares. Automatic Data Processing has a 1-year low of $85.48 and a 1-year high of $121.77. The company’s 50 day moving average price is $106.77 and its 200-day moving average price is $102.73. The firm has a market capitalization of $49.58 billion and a PE ratio of 28.98.

Automatic Data Processing (NYSE:ADP) last issued its earnings results on Thursday, July 27th. The business services provider reported $0.65 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.67 by $0.02. The firm had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $3.04 billion. Automatic Data Processing had a net margin of 17.24% and a return on equity of 59.56%. The firm’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.69 earnings per share. Equities analysts predict that Automatic Data Processing will post $3.82 earnings per share for the current year.

TRADEMARK VIOLATION WARNING: This piece of content was reported by American Banking News and is the property of of American Banking News. If you are accessing this piece of content on another domain, it was illegally stolen and republished in violation of U.S. & international copyright and trademark laws. The legal version of this piece of content can be accessed at https://www.americanbankingnews.com/2017/08/15/automatic-data-processing-adp-given-equal-weight-rating-at-barclays-plc.html.

In other Automatic Data Processing news, CEO Carlos A. Rodriguez sold 36,363 shares of the stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $110.00, for a total value of $3,999,930.00. Following the transaction, the chief executive officer now directly owns 146,494 shares of the company’s stock, valued at approximately $16,114,340. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Carlos A. Rodriguez sold 49,392 shares of the stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $100.01, for a total transaction of $4,939,693.92. Following the completion of the transaction, the chief executive officer now directly owns 159,403 shares in the company, valued at $15,941,894.03. The disclosure for this sale can be found here. Over the last three months, insiders sold 90,620 shares of company stock worth $9,435,757.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ADP. Vanguard Group Inc. raised its position in shares of Automatic Data Processing by 2.4% in the second quarter. Vanguard Group Inc. now owns 34,999,981 shares of the business services provider’s stock worth $3,586,099,000 after buying an additional 811,960 shares during the last quarter. BlackRock Inc. raised its position in shares of Automatic Data Processing by 0.8% in the second quarter. BlackRock Inc. now owns 29,869,208 shares of the business services provider’s stock worth $3,060,398,000 after buying an additional 237,439 shares during the last quarter. State Street Corp raised its position in shares of Automatic Data Processing by 3.8% in the fourth quarter. State Street Corp now owns 20,759,452 shares of the business services provider’s stock worth $2,133,753,000 after buying an additional 763,365 shares during the last quarter. Wellington Management Group LLP raised its position 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 business services provider’s stock worth $1,356,838,000 after buying an additional 648,854 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. raised its position in shares of Automatic Data Processing by 1.0% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 12,836,545 shares of the business services provider’s stock worth $1,132,183,000 after buying an additional 123,283 shares during 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)

Receive News & Ratings for Automatic Data Processing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Automatic Data Processing and related companies with MarketBeat.com's FREE daily email newsletter.