Automatic Data Processing (ADP) Rating Increased to Hold at BidaskClub

Automatic Data Processing (NASDAQ:ADP) was upgraded by equities researchers at BidaskClub from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Several other equities research analysts have also recently issued reports on the stock. Morgan Stanley restated an “equal weight” rating on shares of Automatic Data Processing in a research report on Wednesday, November 15th. Zacks Investment Research upgraded shares of Automatic Data Processing from a “hold” rating to a “buy” rating and set a $126.00 price objective for the company in a research report on Wednesday, November 8th. Royal Bank Of Canada lowered their target price on shares of Automatic Data Processing from $100.00 to $95.00 and set a “sector perform” rating for the company in a research note on Monday, November 6th. BMO Capital Markets lowered their target price on shares of Automatic Data Processing from $122.00 to $114.00 and set an “outperform” rating for the company in a research note on Friday, November 3rd. Finally, Sanford C. Bernstein increased their target price on shares of Automatic Data Processing from $115.00 to $125.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 31st. Thirteen analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $112.37.

Automatic Data Processing (NASDAQ ADP) traded down $0.71 during trading on Friday, reaching $113.75. 2,615,560 shares of the company traded hands, compared to its average volume of 2,371,704. Automatic Data Processing has a 52-week low of $94.11 and a 52-week high of $121.77. The firm has a market capitalization of $50,761.83, a PE ratio of 30.60, a P/E/G ratio of 2.93 and a beta of 0.85. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.51.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Thursday, November 2nd. The business services provider reported $0.91 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.85 by $0.06. Automatic Data Processing had a net margin of 14.08% and a return on equity of 42.34%. The firm had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.06 billion. During the same period last year, the business earned $0.86 earnings per share. Automatic Data Processing’s revenue was up 5.6% compared to the same quarter last year. research analysts anticipate that Automatic Data Processing will post 3.91 earnings per share for the current fiscal year.

A number of hedge funds have recently made changes to their positions in ADP. Guardian Life Insurance Co. of America boosted its stake in shares of Automatic Data Processing by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,740 shares of the business services provider’s stock valued at $178,000 after purchasing an additional 12 shares during the period. Washington Trust Bank boosted its stake in shares of Automatic Data Processing by 0.4% in the second quarter. Washington Trust Bank now owns 3,392 shares of the business services provider’s stock valued at $348,000 after purchasing an additional 12 shares during the period. Flagship Harbor Advisors LLC boosted its stake in shares of Automatic Data Processing by 0.6% in the first quarter. Flagship Harbor Advisors LLC now owns 2,778 shares of the business services provider’s stock valued at $282,000 after purchasing an additional 16 shares during the period. Personal Capital Advisors Corp boosted its stake in shares of Automatic Data Processing by 0.7% in the second quarter. Personal Capital Advisors Corp now owns 2,371 shares of the business services provider’s stock valued at $243,000 after purchasing an additional 16 shares during the period. Finally, Proficio Capital Partners LLC boosted its stake 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. 78.64% of the stock is owned by institutional investors.

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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 (NASDAQ:ADP)

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