Automatic Data Processing (NYSE: ADP) has recently received a number of price target changes and ratings updates:

  • 11/2/2017 – Automatic Data Processing was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating.
  • 10/31/2017 – Automatic Data Processing had its price target raised by analysts at Sanford C. Bernstein from $115.00 to $125.00. They now have an “outperform” rating on the stock.
  • 10/26/2017 – Automatic Data Processing had its price target raised by analysts at Barclays PLC from $105.00 to $115.00. They now have an “equal weight” rating on the stock.
  • 10/21/2017 – Automatic Data Processing was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating.
  • 10/17/2017 – Automatic Data Processing was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “ADP has outperformed the industry on a year-to-date basis. We expect investments in new initiatives will continue to weigh on the company’s near-term bottom-line results. Increasing competition is also a headwind. Moreover, continuing crticism from activist investor Bill Ackman is expected to management under pressure, which will remain an overhang on the stock. Nonetheless, the company’s higher revenue per client and a decent customer retention ratio place it in an advantageous position. Also, ADP holds a dominant position in the payroll processing and human capital management market, primarily due to its robust product portfolio.”
  • 10/16/2017 – Automatic Data Processing was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $128.00 price target on the stock. According to Zacks, “ADP has outperformed the industry on a year-to-date basis. We expect investments in new initiatives will continue to weigh on the company’s near-term bottom-line results. Increasing competition is also a headwind. Moreover, continuing crticism from activist investor Bill Ackman is expected to management under pressure, which will remain an overhang on the stock. Nonetheless, the company’s higher revenue per client and a decent customer retention ratio place it in an advantageous position. Also, ADP holds a dominant position in the payroll processing and human capital management market, primarily due to its robust product portfolio.”
  • 10/13/2017 – Automatic Data Processing had its price target raised by analysts at Bank of America Corporation from $111.00 to $114.00. They now have a “neutral” rating on the stock.
  • 10/4/2017 – Automatic Data Processing had its “hold” rating reaffirmed by analysts at Stifel Nicolaus. They now have a $108.00 price target on the stock.
  • 10/2/2017 – Automatic Data Processing was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “ADP has outperformed the industry on a year-to-date basis. We expect investments in new initiatives will continue to weigh on the company’s near-term bottom-line results. Increasing competition is also a headwind. Moreover, continuing crticism from activist investor Bill Ackman is expected to management under pressure, which will remain an overhang on the stock. Nonetheless, the company’s higher revenue per client and a decent customer retention ratio place it in an advantageous position. Also, ADP holds a dominant position in the payroll processing and human capital management market, primarily due to its robust product portfolio.”
  • 9/28/2017 – Automatic Data Processing was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 9/15/2017 – Automatic Data Processing was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 9/15/2017 – Automatic Data Processing had its “hold” rating reaffirmed by analysts at Royal Bank Of Canada. They now have a $95.00 price target on the stock.
  • 9/9/2017 – Automatic Data Processing was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.

In other news, VP Brock Albinson sold 3,663 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $106.54, for a total transaction of $390,256.02. Following the completion of the transaction, the vice president now directly owns 6,287 shares of the company’s stock, valued at approximately $669,816.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction, the vice president now directly owns 10,550 shares of the company’s stock, valued at $1,125,052. The disclosure for this sale can be found here.

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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