Automatic Data Processing, Inc. (NASDAQ:ADP) was upgraded by analysts at Morgan Stanley from an “underweight” rating to an “equal weight” rating in a note issued to investors on Tuesday, Marketbeat reports. The brokerage currently has a $114.00 price objective on the business services provider’s stock. Morgan Stanley’s price target indicates a potential upside of 1.71% from the stock’s previous close.
A number of other brokerages have also commented on ADP. Zacks Investment Research upgraded shares of Automatic Data Processing from a “hold” rating to a “buy” rating and set a $126.00 price objective on the stock in a report on Wednesday, November 8th. BidaskClub lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, November 8th. Royal Bank Of Canada cut their price objective on shares of 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. BMO Capital Markets cut their price objective on shares of Automatic Data Processing from $122.00 to $114.00 and set an “outperform” rating on the stock in a report on Friday, November 3rd. Finally, Sanford C. Bernstein boosted their price objective on shares of Automatic Data Processing from $115.00 to $125.00 and gave the stock an “outperform” rating in a report on Tuesday, October 31st. Thirteen research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Automatic Data Processing presently has a consensus rating of “Hold” and an average price target of $112.37.
Automatic Data Processing (NASDAQ:ADP) traded up $0.55 during trading hours on Tuesday, hitting $112.08. 1,992,000 shares of the company traded hands, compared to its average volume of 2,916,417. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.10 and a quick ratio of 1.10. The firm has a market cap of $49,462.40, a price-to-earnings ratio of 29.82, a price-to-earnings-growth ratio of 2.86 and a beta of 0.87. Automatic Data Processing has a 1-year low of $91.60 and a 1-year high of $121.77.
Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Thursday, November 2nd. The business services provider reported $0.91 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.06. The business had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.06 billion. Automatic Data Processing had a net margin of 14.08% and a return on equity of 42.34%. The business’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.86 EPS. equities research analysts forecast that Automatic Data Processing will post 3.91 EPS for the current year.
In related news, VP Maria Black sold 631 shares of the business’s stock in a transaction dated Saturday, September 2nd. The shares were sold at an average price of $106.64, for a total transaction of $67,289.84. Following the completion of the sale, the vice president now owns 10,550 shares of the company’s stock, valued at approximately $1,125,052. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Brock Albinson sold 3,663 shares of the business’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $106.54, for a total transaction of $390,256.02. Following the sale, the vice president now directly owns 6,287 shares of the company’s stock, valued at approximately $669,816.98. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by insiders.
Large investors have recently made changes to their positions in the stock. Acrospire Investment Management LLC bought a new stake in shares of Automatic Data Processing during the 2nd quarter valued at about $102,000. Proficio Capital Partners LLC grew its position in 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 worth $111,000 after purchasing an additional 17 shares during the last quarter. Edmond DE Rothschild Holding S.A. bought a new position in Automatic Data Processing in the 1st quarter worth about $113,000. Grove Bank & Trust grew its position in 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 worth $124,000 after purchasing an additional 170 shares during the last quarter. Finally, Armbruster Capital Management Inc. grew its position in 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 worth $135,000 after purchasing an additional 32 shares during the last quarter. 79.74% of the stock is owned by institutional investors and hedge funds.
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.
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