Automatic Data Processing (NASDAQ:ADP) had its price objective upped by research analysts at Citigroup from $137.00 to $147.00 in a research report issued on Thursday. The firm presently has a “neutral” rating on the business services provider’s stock. Citigroup’s price objective suggests a potential upside of 4.46% from the stock’s previous close.
Several other analysts have also commented on ADP. Zacks Investment Research lowered shares of Automatic Data Processing from a “strong-buy” rating to a “hold” rating and set a $152.00 target price for the company. in a research note on Thursday, July 12th. Wolfe Research began coverage on shares of Automatic Data Processing in a research report on Tuesday, July 17th. They issued an “outperform” rating for the company. BidaskClub downgraded shares of Automatic Data Processing from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 1st. Credit Suisse Group began coverage on shares of Automatic Data Processing in a research report on Friday, August 10th. They issued an “outperform” rating and a $160.00 price target for the company. Finally, Argus upped their price target on shares of Automatic Data Processing from $145.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, August 13th. Nine research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $148.69.
ADP stock opened at $140.72 on Thursday. Automatic Data Processing has a 12 month low of $107.61 and a 12 month high of $153.51. The company has a market cap of $63.03 billion, a P/E ratio of 32.35, a price-to-earnings-growth ratio of 2.23 and a beta of 0.91. The company has a quick ratio of 1.05, a current ratio of 1.03 and a debt-to-equity ratio of 0.43.
Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, October 31st. The business services provider reported $1.20 EPS for the quarter, beating the consensus estimate of $1.11 by $0.09. Automatic Data Processing had a net margin of 12.71% and a return on equity of 50.96%. The business had revenue of $3.32 billion during the quarter, compared to analyst estimates of $3.28 billion. During the same period in the prior year, the business earned $0.94 earnings per share. The business’s quarterly revenue was up 8.0% on a year-over-year basis. Equities analysts predict that Automatic Data Processing will post 5.27 earnings per share for the current fiscal year.
In other Automatic Data Processing news, insider Michael A. Bonarti sold 2,334 shares of the company’s stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $144.77, for a total value of $337,893.18. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Brock Albinson sold 3,345 shares of the company’s stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $144.35, for a total transaction of $482,850.75. Following the completion of the transaction, the vice president now owns 6,081 shares in the company, valued at approximately $877,792.35. The disclosure for this sale can be found here. In the last 90 days, insiders sold 15,919 shares of company stock valued at $2,351,933. 0.33% of the stock is owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in ADP. Atlantic Trust LLC acquired a new position in shares of Automatic Data Processing during the 2nd quarter worth $104,000. Integrated Investment Consultants LLC acquired a new position in shares of Automatic Data Processing during the 2nd quarter worth $111,000. Willingdon Wealth Management increased its stake in shares of Automatic Data Processing by 328.5% during the 3rd quarter. Willingdon Wealth Management now owns 857 shares of the business services provider’s stock worth $129,000 after purchasing an additional 657 shares during the last quarter. Jolley Asset Management LLC acquired a new position in shares of Automatic Data Processing during the 2nd quarter worth $117,000. Finally, Fort L.P. acquired a new position in shares of Automatic Data Processing during the 2nd quarter worth $119,000. Hedge funds and other institutional investors own 77.89% of the company’s stock.
Automatic Data Processing Company Profile
Automatic Data Processing, Inc provides business process outsourcing services worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO) Services. The Employer Services segment offers various human resources (HR) outsourcing and technology-based human capital management solutions.
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