Automatic Data Processing (NASDAQ:ADP) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a report issued on Saturday.
A number of other research analysts have also recently issued reports on the company. Citigroup reissued a “neutral” rating and issued a $118.00 target price (up from $110.00) on shares of Automatic Data Processing in a research note on Friday. Zacks Investment Research cut Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday. Goldman Sachs Group raised Automatic Data Processing from a “neutral” rating to a “buy” rating and boosted their target price for the company from $116.02 to $135.00 in a research note on Monday, December 11th. Bank of America upgraded Automatic Data Processing from a “neutral” rating to a “buy” rating in a report on Tuesday, December 5th. Finally, Morgan Stanley restated an “equal weight” rating on shares of Automatic Data Processing in a report on Wednesday, November 15th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $115.21.
Automatic Data Processing (NASDAQ ADP) opened at $118.47 on Friday. Automatic Data Processing has a 52 week low of $94.11 and a 52 week 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. The stock has a market capitalization of $52,540.00, a PE ratio of 30.07, a price-to-earnings-growth ratio of 2.93 and a beta of 0.85.
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, beating analysts’ consensus estimates of $0.85 by $0.06. Automatic Data Processing had a return on equity of 42.34% and a net margin of 14.08%. The firm had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.06 billion. During the same period in the previous year, the firm earned $0.86 earnings per share. The company’s revenue was up 5.6% on a year-over-year basis. equities research analysts predict that Automatic Data Processing will post 3.91 EPS for the current year.
In related news, insider Edward B. Flynn III sold 7,886 shares of the company’s stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $117.74, for a total transaction of $928,497.64. Following the sale, the insider now owns 40,522 shares in the company, valued at $4,771,060.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Carlos A. Rodriguez sold 95,756 shares of the company’s stock in a transaction dated Thursday, January 4th. The stock was sold at an average price of $118.09, for a total value 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 115,505 shares of company stock worth $13,612,788. Corporate insiders own 0.25% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Acrospire Investment Management LLC bought a new stake in Automatic Data Processing during the second quarter worth about $102,000. Proficio Capital Partners LLC raised its holdings in Automatic Data Processing by 1.8% during the second quarter. Proficio Capital Partners LLC now owns 964 shares of the business services provider’s stock worth $111,000 after acquiring an additional 17 shares in the last quarter. Wealthcare Advisory Partners LLC bought a new stake in Automatic Data Processing during the third quarter worth about $114,000. Grove Bank & Trust raised its holdings in Automatic Data Processing by 16.4% during the second quarter. Grove Bank & Trust now owns 1,208 shares of the business services provider’s stock worth $124,000 after acquiring an additional 170 shares in the last quarter. Finally, Armbruster Capital Management Inc. raised its holdings in Automatic Data Processing by 2.5% during the second quarter. Armbruster Capital Management Inc. now owns 1,322 shares of the business services provider’s stock worth $135,000 after acquiring an additional 32 shares in the last quarter. Institutional investors and hedge funds 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.
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