Automatic Data Processing (NASDAQ:ADP – Get Free Report) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.
Several other equities research analysts have also recently weighed in on the stock. Royal Bank of Canada began coverage on shares of Automatic Data Processing in a research report on Tuesday, September 5th. They issued a “sector perform” rating and a $267.00 price target on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Automatic Data Processing from $260.00 to $280.00 and gave the stock an “underweight” rating in a research note on Tuesday, August 22nd. Robert W. Baird lifted their price objective on shares of Automatic Data Processing from $235.00 to $270.00 in a research note on Thursday, July 27th. Morgan Stanley lifted their price objective on shares of Automatic Data Processing from $240.00 to $260.00 in a research note on Thursday, July 27th. Finally, Jefferies Financial Group lifted their price objective on shares of Automatic Data Processing from $240.00 to $260.00 in a research note on Wednesday, July 26th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $250.62.
Automatic Data Processing Price Performance
ADP traded up $0.63 during trading hours on Friday, hitting $239.35. The company’s stock had a trading volume of 1,026,175 shares, compared to its average volume of 1,780,207. The business’s 50-day moving average price is $247.83 and its 200-day moving average price is $227.40. Automatic Data Processing has a 12 month low of $201.46 and a 12 month high of $274.92. The stock has a market cap of $98.61 billion, a price-to-earnings ratio of 29.19, a P/E/G ratio of 2.29 and a beta of 0.81. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.85.
Automatic Data Processing (NASDAQ:ADP – Get Free Report) last announced its quarterly earnings results on Wednesday, July 26th. The business services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.06. Automatic Data Processing had a net margin of 18.94% and a return on equity of 107.15%. The company had revenue of $4.48 billion for the quarter, compared to analysts’ expectations of $4.39 billion. During the same quarter in the previous year, the business posted $1.50 earnings per share. Automatic Data Processing’s quarterly revenue was up 8.5% on a year-over-year basis. Sell-side analysts expect that Automatic Data Processing will post 9.14 earnings per share for the current fiscal year.
Insider Activity
In related news, VP Michael A. Bonarti sold 7,049 shares of Automatic Data Processing stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $254.75, for a total value of $1,795,732.75. Following the completion of the sale, the vice president now directly owns 67,044 shares in the company, valued at $17,079,459. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Maria Black sold 17,326 shares of Automatic Data Processing stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $255.03, for a total value of $4,418,649.78. Following the completion of the sale, the chief executive officer now directly owns 70,782 shares in the company, valued at $18,051,533.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Michael A. Bonarti sold 7,049 shares of Automatic Data Processing stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $254.75, for a total value of $1,795,732.75. Following the completion of the sale, the vice president now owns 67,044 shares of the company’s stock, valued at $17,079,459. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 170,089 shares of company stock valued at $42,719,064. 0.33% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Automatic Data Processing
A number of large investors have recently added to or reduced their stakes in the company. Bank of New Hampshire boosted its stake in shares of Automatic Data Processing by 0.3% in the second quarter. Bank of New Hampshire now owns 13,356 shares of the business services provider’s stock valued at $2,936,000 after buying an additional 40 shares in the last quarter. Key Financial Inc boosted its position in Automatic Data Processing by 0.4% during the second quarter. Key Financial Inc now owns 10,731 shares of the business services provider’s stock worth $2,359,000 after purchasing an additional 41 shares in the last quarter. Bell Investment Advisors Inc boosted its position in Automatic Data Processing by 23.2% during the second quarter. Bell Investment Advisors Inc now owns 218 shares of the business services provider’s stock worth $48,000 after purchasing an additional 41 shares in the last quarter. Angeles Wealth Management LLC boosted its position in Automatic Data Processing by 4.2% during the second quarter. Angeles Wealth Management LLC now owns 1,011 shares of the business services provider’s stock worth $222,000 after purchasing an additional 41 shares in the last quarter. Finally, Signet Financial Management LLC boosted its position in Automatic Data Processing by 1.3% during the fourth quarter. Signet Financial Management LLC now owns 3,587 shares of the business services provider’s stock worth $857,000 after purchasing an additional 45 shares in the last quarter. 79.37% of the stock is currently owned by institutional investors.
About Automatic Data Processing
Automatic Data Processing, Inc provides cloud-based human capital management solutions worldwide. It operates in two segments, Employer Services and Professional Employer Organization (PEO). The Employer Services segment offers strategic, cloud-based platforms, and human resources (HR) outsourcing solutions.