Automatic Data Processing (NASDAQ:ADP) was upgraded by analysts at Bank of America from a “neutral” rating to a “buy” rating in a report issued on Tuesday, Marketbeat reports.

ADP has been the subject of several other reports. BidaskClub lowered Automatic Data Processing from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 2nd. Deutsche Bank reiterated a “hold” rating and set a $102.00 price objective on shares of Automatic Data Processing in a report on Monday, August 21st. Morgan Stanley reiterated an “equal weight” rating on shares of Automatic Data Processing in a report on Wednesday, November 15th. Evercore ISI reiterated an “in-line” rating and set a $115.00 price objective on shares of Automatic Data Processing in a report on Sunday, August 20th. Finally, Royal Bank Of Canada cut their price objective on Automatic Data Processing from $100.00 to $95.00 and set a “sector perform” rating on the stock in a report on Monday, November 6th. Twelve investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $112.37.

Automatic Data Processing (ADP) opened at $115.68 on Tuesday. The stock has a market capitalization of $50,446.95, a PE ratio of 30.41, a PEG ratio of 2.91 and a beta of 0.85. Automatic Data Processing has a 12-month low of $94.11 and a 12-month high of $121.77. 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 posted its earnings results 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. The company had revenue of $3.08 billion during the quarter, compared to analyst estimates of $3.06 billion. Automatic Data Processing had a return on equity of 42.34% and a net margin of 14.08%. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.86 EPS. equities research analysts predict that Automatic Data Processing will post 3.91 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Steward Partners Investment Advisory LLC acquired a new position in shares of Automatic Data Processing during the 3rd quarter worth approximately $1,880,000. Public Employees Retirement System of Ohio increased its position in shares of Automatic Data Processing by 0.4% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 309,760 shares of the business services provider’s stock worth $33,863,000 after purchasing an additional 1,166 shares during the last quarter. Garde Capital Inc. acquired a new position in shares of Automatic Data Processing during the 3rd quarter worth approximately $987,000. Smith Shellnut Wilson LLC ADV acquired a new position in shares of Automatic Data Processing during the 3rd quarter worth approximately $247,000. Finally, Americafirst Capital Management LLC acquired a new position in shares of Automatic Data Processing during the 3rd quarter worth approximately $195,000. Hedge funds and other institutional investors own 78.64% of the company’s stock.

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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 (NASDAQ:ADP)

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