Automatic Data Processing (NASDAQ:ADP) Stock Rating Lowered by StockNews.com

by · The Markets Daily

Automatic Data Processing (NASDAQ:ADP – Get Free Report) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Thursday.

ADP has been the topic of a number of other research reports. Bank of America upped their target price on Automatic Data Processing from $250.00 to $267.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Jefferies Financial Group upped their target price on Automatic Data Processing from $250.00 to $260.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. Barclays upped their target price on Automatic Data Processing from $282.00 to $310.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Stifel Nicolaus upped their target price on Automatic Data Processing from $271.00 to $287.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. Finally, JPMorgan Chase & Co. upped their target price on Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a research note on Tuesday, August 20th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $265.36.

Get Our Latest Research Report on Automatic Data Processing

Automatic Data Processing Trading Down 0.5 %

Shares of NASDAQ ADP opened at $276.41 on Thursday. The business’s 50 day moving average is $264.76 and its two-hundred day moving average is $251.51. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.01 and a quick ratio of 1.01. Automatic Data Processing has a 1-year low of $205.53 and a 1-year high of $281.54. The stock has a market capitalization of $113.13 billion, a P/E ratio of 30.85, a PEG ratio of 3.02 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP – Get Free Report) last issued its quarterly earnings data on Wednesday, July 31st. The business services provider reported $2.09 earnings per share for the quarter, topping the consensus estimate of $2.06 by $0.03. Automatic Data Processing had a return on equity of 89.20% and a net margin of 19.54%. The company had revenue of $4.80 billion for the quarter, compared to analysts’ expectations of $4.74 billion. During the same period in the previous year, the firm posted $1.89 earnings per share. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. As a group, research analysts expect that Automatic Data Processing will post 10.04 EPS for the current year.

Insiders Place Their Bets

In other Automatic Data Processing news, Director Carlos A. Rodriguez sold 9,203 shares of the company’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $269.45, for a total transaction of $2,479,748.35. Following the completion of the sale, the director now owns 36,741 shares in the company, valued at $9,899,862.45. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Automatic Data Processing news, Director Carlos A. Rodriguez sold 9,203 shares of the company’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $269.45, for a total transaction of $2,479,748.35. Following the completion of the sale, the director now owns 36,741 shares in the company, valued at $9,899,862.45. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Michael A. Bonarti sold 26,442 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $270.96, for a total value of $7,164,724.32. Following the sale, the vice president now owns 88,426 shares of the company’s stock, valued at approximately $23,959,908.96. The disclosure for this sale can be found here. Insiders sold a total of 58,817 shares of company stock worth $15,999,208 over the last 90 days. Company insiders own 0.26% of the company’s stock.

Institutional Trading of Automatic Data Processing

Hedge funds and other institutional investors have recently made changes to their positions in the business. Kiely Wealth Advisory Group Inc. purchased a new stake in shares of Automatic Data Processing during the 2nd quarter valued at $27,000. Keener Financial Planning LLC lifted its holdings in shares of Automatic Data Processing by 230.3% during the 1st quarter. Keener Financial Planning LLC now owns 109 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 76 shares during the last quarter. Crewe Advisors LLC purchased a new stake in shares of Automatic Data Processing during the 1st quarter valued at $33,000. Pathway Financial Advisers LLC purchased a new stake in shares of Automatic Data Processing during the 1st quarter valued at $36,000. Finally, New Millennium Group LLC purchased a new stake in shares of Automatic Data Processing during the 2nd quarter valued at $40,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Company Profile

(Get Free Report)

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.

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