Automatic Data Processing (NYSE:ADP) had its price objective dropped by analysts at BMO Capital Markets from $122.00 to $114.00 in a research report issued to clients and investors on Friday. The brokerage presently has an “outperform” rating on the business services provider’s stock. BMO Capital Markets’ price target suggests a potential upside of 1.57% from the company’s current price.

ADP has been the subject of several other reports. Zacks Investment Research cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Tuesday, October 17th. Royal Bank Of Canada restated a “hold” rating and issued a $95.00 price target on shares of Automatic Data Processing in a research report on Friday, September 15th. BidaskClub upgraded shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a research report on Saturday, September 9th. Robert W. Baird restated a “neutral” rating and issued a $95.00 price target on shares of Automatic Data Processing in a research report on Sunday, July 30th. Finally, Sanford C. Bernstein upped their price target on shares of Automatic Data Processing from $115.00 to $125.00 and gave the company an “outperform” rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $111.57.

Shares of Automatic Data Processing (ADP) traded down $3.16 during midday trading on Friday, reaching $112.24. 2,904,325 shares of the company’s stock traded hands.

Automatic Data Processing (NYSE:ADP) last announced its quarterly earnings results on Thursday, November 2nd. The business services provider reported $0.91 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.06. Automatic Data Processing had a net margin of 13.04% and a return on equity of 40.61%. The firm had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.06 billion. During the same period in the prior year, the company posted $0.86 EPS. The company’s revenue was up 5.6% on a year-over-year basis.

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In related news, VP Maria Black sold 631 shares of the stock in a transaction on Saturday, September 2nd. The shares were 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Brock Albinson sold 3,663 shares of the stock in a transaction on Friday, September 1st. The stock was sold at an average price of $106.54, for a total transaction of $390,256.02. Following the transaction, the vice president now directly owns 6,287 shares in the company, valued at $669,816.98. The disclosure for this sale can be found here.

Several institutional investors have recently added to or reduced their stakes in ADP. BlackRock Inc. lifted its stake in shares of Automatic Data Processing by 1,971.2% in the first quarter. BlackRock Inc. now owns 29,631,769 shares of the business services provider’s stock valued at $3,033,995,000 after buying an additional 28,201,085 shares in the last quarter. Janus Henderson Group PLC lifted its stake in shares of Automatic Data Processing by 5,962.5% in the second quarter. Janus Henderson Group PLC now owns 4,013,865 shares of the business services provider’s stock valued at $411,260,000 after buying an additional 3,947,657 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Automatic Data Processing by 4.4% in the first quarter. Vanguard Group Inc. now owns 34,188,021 shares of the business services provider’s stock valued at $3,500,512,000 after buying an additional 1,430,863 shares in the last quarter. Canada Pension Plan Investment Board lifted its stake in shares of Automatic Data Processing by 42,776.7% in the third quarter. Canada Pension Plan Investment Board now owns 1,376,771 shares of the business services provider’s stock valued at $150,509,000 after buying an additional 1,373,560 shares in the last quarter. Finally, Fundsmith LLP lifted its stake in shares of Automatic Data Processing by 29.0% in the second quarter. Fundsmith LLP now owns 5,176,340 shares of the business services provider’s stock valued at $530,368,000 after buying an additional 1,164,972 shares in 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.

Analyst Recommendations for Automatic Data Processing (NYSE:ADP)

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