Automatic Data Processing (ADP) Stock Rating Reaffirmed by Royal Bank Of Canada
Automatic Data Processing (NYSE:ADP)‘s stock had its “hold” rating restated by equities researchers at Royal Bank Of Canada in a report released on Friday. They presently have a $95.00 price target on the business services provider’s stock. Royal Bank Of Canada’s price target would suggest a potential downside of 11.03% from the company’s previous close.
ADP has been the subject of several other research reports. BidaskClub upgraded Automatic Data Processing from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. Stifel Nicolaus reiterated a “hold” rating and set a $108.00 target price (up previously from $103.00) on shares of Automatic Data Processing in a research report on Sunday, July 30th. Robert W. Baird reiterated a “neutral” rating and set a $95.00 target price on shares of Automatic Data Processing in a research report on Sunday, July 30th. BMO Capital Markets reiterated an “outperform” rating and set a $105.00 target price (up previously from $100.00) on shares of Automatic Data Processing in a research report on Friday, July 28th. Finally, Morgan Stanley cut Automatic Data Processing from an “equal weight” rating to an “underweight” rating and increased their target price for the stock from $98.00 to $100.00 in a research report on Thursday, August 3rd. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating to the stock. Automatic Data Processing has a consensus rating of “Hold” and a consensus price target of $107.81.
Shares of Automatic Data Processing (NYSE:ADP) traded down 0.01% during mid-day trading on Friday, hitting $106.78. The stock had a trading volume of 3,116,724 shares. The stock’s 50-day moving average is $108.51 and its 200 day moving average is $103.81. The company has a market cap of $47.45 billion and a PE ratio of 27.74. Automatic Data Processing has a 12 month low of $85.48 and a 12 month high of $121.77.
Automatic Data Processing (NYSE:ADP) last issued its quarterly earnings results on Thursday, July 27th. The business services provider reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.02). The company had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $3.04 billion. Automatic Data Processing had a return on equity of 26.39% and a net margin of 8.67%. The business’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.69 EPS. On average, equities research analysts forecast that Automatic Data Processing will post $3.81 earnings per share for the current fiscal year.
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In other Automatic Data Processing news, VP Maria Black sold 631 shares of the firm’s stock in a transaction that occurred on Saturday, September 2nd. The stock was sold at an average price of $106.64, for a total transaction of $67,289.84. Following the completion of the transaction, the vice president now owns 10,550 shares in the company, valued at approximately $1,125,052. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Carlos A. Rodriguez sold 36,363 shares of the firm’s stock in a transaction that occurred on 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 owns 146,494 shares of the company’s stock, valued at approximately $16,114,340. The disclosure for this sale can be found here. Insiders have sold a total of 45,522 shares of company stock valued at $4,953,609 in the last 90 days.
Several large investors have recently bought and sold shares of ADP. Acrospire Investment Management LLC bought a new stake in shares of Automatic Data Processing in the 2nd quarter valued at approximately $102,000. Coconut Grove Bank lifted its stake in shares of Automatic Data Processing by 79.6% in the 1st quarter. Coconut Grove Bank now owns 1,038 shares of the business services provider’s stock valued at $106,000 after purchasing an additional 460 shares during the last quarter. Grisanti Capital Management LLC lifted its stake in shares of Automatic Data Processing by 4.5% in the 1st quarter. Grisanti Capital Management LLC now owns 1,045 shares of the business services provider’s stock valued at $107,000 after purchasing an additional 45 shares during the last quarter. Zions Bancorporation lifted its stake in shares of Automatic Data Processing by 228.5% in the 2nd quarter. Zions Bancorporation now owns 1,189 shares of the business services provider’s stock valued at $110,000 after purchasing an additional 827 shares during the last quarter. Finally, Proficio Capital Partners LLC lifted its stake in shares of Automatic Data Processing by 1.8% in the 2nd quarter. Proficio Capital Partners LLC now owns 964 shares of the business services provider’s stock valued at $111,000 after purchasing an additional 17 shares during the last quarter.
About Automatic Data Processing
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.
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