Automatic Data Processing (NASDAQ:ADP) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Saturday.

ADP has been the subject of several other research reports. Zacks Investment Research raised shares of Automatic Data Processing from a “hold” rating to a “buy” rating and set a $133.00 price objective for the company in a report on Friday, January 5th. Morgan Stanley reaffirmed an “equal weight” rating on shares of Automatic Data Processing in a report on Wednesday, November 15th. Royal Bank of Canada dropped their price target on shares of Automatic Data Processing from $100.00 to $95.00 and set a “sector perform” rating on the stock in a research report on Monday, November 6th. Bank of America boosted their price target on shares of Automatic Data Processing from $111.00 to $114.00 and gave the stock a “neutral” rating in a research report on Friday, October 13th. Finally, Goldman Sachs Group upgraded shares of Automatic Data Processing from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $116.02 to $135.00 in a research report on Monday, December 11th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the stock. Automatic Data Processing presently has a consensus rating of “Hold” and a consensus target price of $115.21.

Automatic Data Processing (NASDAQ ADP) traded up $1.29 during mid-day trading on Friday, reaching $118.47. 1,644,451 shares of the company traded hands, compared to its average volume of 2,030,000. The firm has a market capitalization of $52,540.00, a P/E ratio of 30.07, a P/E/G ratio of 2.90 and a beta of 0.85. Automatic Data Processing has a 1-year low of $94.11 and a 1-year high of $121.77. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.51.

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

In other Automatic Data Processing news, CEO Carlos A. Rodriguez sold 95,756 shares of the business’s stock in a transaction dated Thursday, January 4th. The stock was sold at an average price of $118.09, for a total transaction of $11,307,826.04. Following the sale, the chief executive officer now owns 124,722 shares in the company, valued at approximately $14,728,420.98. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Michael A. Bonarti sold 3,900 shares of the business’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $116.03, for a total value of $452,517.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 115,505 shares of company stock worth $13,612,788. Corporate insiders own 0.25% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Acrospire Investment Management LLC acquired a new position in shares of Automatic Data Processing in the 2nd quarter valued at about $102,000. Proficio Capital Partners LLC increased its holdings in shares of Automatic Data Processing by 1.8% in the 2nd 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. Wealthcare Advisory Partners LLC acquired a new position in shares of Automatic Data Processing in the 3rd quarter valued at about $114,000. Grove Bank & Trust increased its holdings in shares of Automatic Data Processing by 16.4% in the 2nd 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, Armbruster Capital Management Inc. increased its holdings in shares of Automatic Data Processing by 2.5% in the 2nd quarter. Armbruster Capital Management Inc. now owns 1,322 shares of the business services provider’s stock valued at $135,000 after purchasing an additional 32 shares during the period. Hedge funds and other institutional investors own 78.67% 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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