Automatic Data Processing (NASDAQ:ADP) had its price target dropped by research analysts at BMO Capital Markets from $122.00 to $121.00 in a research note issued on Thursday. The firm currently has an “outperform” rating on the business services provider’s stock. BMO Capital Markets’ price objective would suggest a potential upside of 0.48% from the company’s previous close.
Several other equities analysts also recently issued reports on the stock. Bank of America raised shares of Automatic Data Processing from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 5th. BidaskClub raised shares of Automatic Data Processing from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 21st. Morgan Stanley upgraded shares of Automatic Data Processing from an “underweight” rating to an “equal” rating and set a $114.00 price objective for the company in a research report on Tuesday, November 14th. Sanford C. Bernstein increased their price objective on shares of Automatic Data Processing from $115.00 to $125.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 31st. Finally, Goldman Sachs Group upgraded shares of Automatic Data Processing from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $116.02 to $135.00 in a research report on Monday, December 11th. Twelve research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Automatic Data Processing has an average rating of “Hold” and an average target price of $118.64.
Automatic Data Processing (NASDAQ ADP) traded down $3.21 during mid-day trading on Thursday, hitting $120.42. 2,528,013 shares of the stock traded hands, compared to its average volume of 1,690,000. The company has a market capitalization of $53,410.00, a P/E ratio of 31.20, a P/E/G ratio of 2.99 and a beta of 0.85. Automatic Data Processing has a 12-month low of $94.11 and a 12-month high of $125.24. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.10 and a quick ratio of 1.10.
In other Automatic Data Processing news, VP Stuart Sackman sold 238 shares of the firm’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $121.65, for a total value of $28,952.70. Following the completion of the sale, the vice president now directly owns 18,676 shares in the company, valued at $2,271,935.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Carlos A. Rodriguez sold 95,756 shares of the firm’s stock in a transaction on 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 completion of the sale, the chief executive officer now owns 124,722 shares of the company’s stock, valued at $14,728,420.98. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 149,767 shares of company stock valued at $17,801,722. 0.25% of the stock is currently owned by corporate insiders.
A number of large investors have recently bought and sold shares of ADP. Acrospire Investment Management LLC bought a new position in shares of Automatic Data Processing in the second quarter valued at $102,000. Legacy Advisors LLC bought a new position in shares of Automatic Data Processing in the fourth quarter valued at $103,000. Proficio Capital Partners LLC lifted 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 buying an additional 17 shares in the last quarter. Wealthcare Advisory Partners LLC bought a new position in shares of Automatic Data Processing in the third quarter valued at $114,000. Finally, Cerebellum GP LLC bought a new position in shares of Automatic Data Processing in the fourth quarter valued at $129,000. Institutional investors and hedge funds own 78.80% 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.
