Automatic Data Processing (NASDAQ:ADP)‘s stock had its “neutral” rating reaffirmed by analysts at Royal Bank of Canada in a research report issued on Thursday, February 1st.
Several other research firms also recently issued reports on ADP. Zacks Investment Research raised Automatic Data Processing from a “hold” rating to a “buy” rating and set a $128.00 price target for the company in a research note on Monday, October 16th. BidaskClub downgraded shares of Automatic Data Processing from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 2nd. Bank of America raised shares of Automatic Data Processing from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 5th. Goldman Sachs Group raised shares of Automatic Data Processing from a “neutral” rating to a “buy” rating and upped their price objective for the company from $116.02 to $135.00 in a research note on Monday, December 11th. Finally, Morgan Stanley raised shares of Automatic Data Processing from an “underweight” rating to an “equal” rating and set a $114.00 price objective for the company in a research note on Tuesday, November 14th. Eleven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $118.43.
Shares of Automatic Data Processing (ADP) traded up $0.75 on Thursday, hitting $112.18. 642,198 shares of the stock were exchanged, compared to its average volume of 2,040,000. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $49,730.00, a price-to-earnings ratio of 29.06, a PEG ratio of 2.43 and a beta of 0.86. Automatic Data Processing has a twelve month low of $95.50 and a twelve month high of $125.24.
Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, January 31st. The business services provider reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.10. Automatic Data Processing had a net margin of 13.47% and a return on equity of 43.28%. The business had revenue of $3.24 billion for the quarter, compared to analyst estimates of $3.18 billion. During the same period last year, the firm posted $0.87 earnings per share. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. analysts expect that Automatic Data Processing will post 4.17 earnings per share for the current fiscal year.
In related news, CEO Carlos A. Rodriguez sold 95,756 shares of the firm’s stock in a transaction dated Thursday, January 4th. The stock was sold at an average price of $118.09, for a total transaction of $11,307,826.04. Following the completion of the transaction, the chief executive officer now owns 124,722 shares of the company’s stock, valued at $14,728,420.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Stuart Sackman sold 238 shares of the stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $121.65, for a total value of $28,952.70. Following the completion of the transaction, the vice president now owns 18,676 shares of the company’s stock, valued at approximately $2,271,935.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 149,767 shares of company stock worth $17,801,722. Corporate insiders own 0.25% of the company’s stock.
A number of institutional investors have recently made changes to their positions in ADP. Cedar Capital LLC acquired a new position in shares of Automatic Data Processing during the 2nd quarter valued at about $254,000. Intl Fcstone Inc. acquired a new stake in Automatic Data Processing in the 2nd quarter valued at approximately $1,699,000. AMP Capital Investors Ltd grew its holdings in Automatic Data Processing by 20.0% in the 3rd quarter. AMP Capital Investors Ltd now owns 307,676 shares of the business services provider’s stock valued at $33,636,000 after buying an additional 51,252 shares during the last quarter. AHL Partners LLP grew its holdings in Automatic Data Processing by 37.3% in the 2nd quarter. AHL Partners LLP now owns 109,735 shares of the business services provider’s stock valued at $11,243,000 after buying an additional 29,836 shares during the last quarter. Finally, Fundsmith LLP grew its holdings in Automatic Data Processing by 29.0% in the 2nd quarter. Fundsmith LLP now owns 5,176,340 shares of the business services provider’s stock valued at $530,368,000 after buying an additional 1,164,972 shares during the last quarter. 78.55% of the stock is owned by hedge funds and other 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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