Automatic Data Processing (NASDAQ:ADP)‘s stock had its “neutral” rating restated by equities researchers at Citigroup in a note issued to investors on Friday. They presently have a $118.00 price objective on the business services provider’s stock, up from their prior price objective of $110.00. Citigroup’s price target indicates a potential upside of 0.70% from the stock’s previous close.
ADP has been the subject of a number of other research reports. Zacks Investment Research cut Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Tuesday, October 17th. Royal Bank of Canada reiterated a “hold” rating and set a $95.00 price objective on shares of Automatic Data Processing in a research note on Friday, September 15th. BidaskClub cut Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Friday, September 15th. Sanford C. Bernstein lifted their price objective on Automatic Data Processing from $115.00 to $125.00 and gave the company an “outperform” rating in a research note on Tuesday, October 31st. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $108.00 price objective on shares of Automatic Data Processing in a research note on Wednesday, October 4th. Twelve equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Automatic Data Processing presently has an average rating of “Hold” and an average price target of $115.21.
Shares of Automatic Data Processing (NASDAQ ADP) traded down $0.47 during trading hours on Friday, reaching $117.18. The company’s stock had a trading volume of 1,157,500 shares, compared to its average volume of 1,857,225. The stock has a market capitalization of $52,460.00, a PE ratio of 29.74, a price-to-earnings-growth ratio of 2.93 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 announced its quarterly earnings data on Thursday, November 2nd. The business services provider reported $0.91 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.06. The business had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.06 billion. Automatic Data Processing had a return on equity of 42.34% and a net margin of 14.08%. The firm’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.86 earnings per share. sell-side analysts predict that Automatic Data Processing will post 3.91 EPS for the current fiscal year.
In related news, VP Donald Weinstein sold 2,275 shares of Automatic Data Processing stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $116.03, for a total value of $263,968.25. Following the completion of the sale, the vice president now owns 27,399 shares of the company’s stock, valued at $3,179,105.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael A. Bonarti sold 3,900 shares of Automatic Data Processing stock in a transaction on 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. Insiders sold 115,505 shares of company stock valued at $13,612,788 in the last ninety days. 0.25% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently modified their holdings of the stock. America First Investment Advisors LLC grew its holdings in Automatic Data Processing by 2.0% during the second quarter. America First Investment Advisors LLC now owns 125,619 shares of the business services provider’s stock valued at $12,871,000 after purchasing an additional 2,503 shares during the period. Evanson Asset Management LLC bought a new stake in Automatic Data Processing during the second quarter valued at about $225,000. City Holding Co. grew its holdings in Automatic Data Processing by 5.1% during the second quarter. City Holding Co. now owns 33,112 shares of the business services provider’s stock valued at $3,392,000 after purchasing an additional 1,595 shares during the period. Oakmont Partners LLC grew its holdings in Automatic Data Processing by 54.3% during the second quarter. Oakmont Partners LLC now owns 15,146 shares of the business services provider’s stock valued at $1,552,000 after purchasing an additional 5,327 shares during the period. Finally, Atria Investments LLC grew its holdings in Automatic Data Processing by 4.7% during the second quarter. Atria Investments LLC now owns 22,843 shares of the business services provider’s stock valued at $2,340,000 after purchasing an additional 1,028 shares during the period. 78.67% of the stock is owned by institutional investors.
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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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