Automatic Data Processing (ADP) Upgraded to “Strong-Buy” by BidaskClub
Automatic Data Processing (NYSE:ADP) was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Saturday.
Several other equities research analysts have also recently weighed in on the company. Royal Bank Of Canada boosted their target price on Automatic Data Processing from $94.00 to $95.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 1st. Stifel Nicolaus restated a “hold” rating and set a $108.00 target price (up previously from $103.00) on shares of Automatic Data Processing in a research note on Sunday, July 30th. Barclays PLC cut Automatic Data Processing from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $110.00 to $105.00 in a research note on Tuesday, July 18th. Citigroup Inc. restated a “neutral” rating and set a $110.00 target price (up previously from $98.00) on shares of Automatic Data Processing in a research note on Thursday, August 17th. Finally, Zacks Investment Research upgraded Automatic Data Processing from a “hold” rating to a “buy” rating and set a $128.00 target price for the company in a research note on Monday, October 16th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Automatic Data Processing has a consensus rating of “Hold” and a consensus target price of $109.25.
Shares of Automatic Data Processing (NYSE:ADP) opened at 115.93 on Friday. The stock has a market capitalization of $51.52 billion and a price-to-earnings ratio of 30.11. The firm’s 50 day moving average is $110.16 and its 200 day moving average is $105.16. Automatic Data Processing has a 52-week low of $86.53 and a 52-week high of $121.77.
Automatic Data Processing (NYSE:ADP) last announced its quarterly earnings data on Thursday, July 27th. The business services provider reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate 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 net margin of 8.67% and a return on equity of 26.39%. 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 business posted $0.69 EPS. Equities analysts expect that Automatic Data Processing will post $3.81 earnings per share for the current year.
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In other news, VP Brock Albinson sold 3,663 shares of the business’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $106.54, for a total value of $390,256.02. Following the transaction, the vice president now owns 6,287 shares of the company’s stock, valued at $669,816.98. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Maria Black sold 631 shares of the business’s stock in a transaction that occurred on Saturday, September 2nd. The shares were sold at an average price of $106.64, for a total value of $67,289.84. Following the completion of the transaction, the vice president now directly owns 10,550 shares in the company, valued at approximately $1,125,052. The disclosure for this sale can be found here. In the last quarter, insiders sold 40,657 shares of company stock valued at $4,457,476.
Large investors have recently added to or reduced their stakes in the company. Proficio Capital Partners LLC increased its holdings in shares of Automatic Data Processing by 1.8% in the second 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 period. Acrospire Investment Management LLC acquired a new position in shares of Automatic Data Processing in the second quarter valued at approximately $102,000. Edmond DE Rothschild Holding S.A. acquired a new position in shares of Automatic Data Processing in the first quarter valued at approximately $113,000. Grove Bank & Trust increased its holdings in shares of Automatic Data Processing by 16.4% in the second quarter. Grove Bank & Trust now owns 1,208 shares of the business services provider’s stock valued at $124,000 after purchasing an additional 170 shares during the period. Finally, Family Capital Trust Co acquired a new position in shares of Automatic Data Processing in the third quarter valued at approximately $137,000.
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.
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