Automatic Data Processing (NASDAQ:ADP) had its price objective decreased by Citigroup from $148.00 to $144.00 in a report released on Thursday, BenzingaRatingsTable reports. Citigroup currently has a neutral rating on the business services provider’s stock.
ADP has been the subject of several other research reports. UBS Group upgraded shares of Automatic Data Processing from a sell rating to a neutral rating in a report on Wednesday, April 1st. Stifel Nicolaus increased their price target on Automatic Data Processing from $150.00 to $155.00 and gave the company a hold rating in a research report on Thursday, April 30th. BMO Capital Markets decreased their price target on Automatic Data Processing from $179.00 to $154.00 and set a market perform rating for the company in a research note on Thursday, April 30th. JPMorgan Chase & Co. dropped their price objective on Automatic Data Processing from $189.00 to $159.00 and set a neutral rating on the stock in a research note on Wednesday, April 15th. Finally, Cfra decreased their target price on shares of Automatic Data Processing from $176.00 to $161.00 and set a hold rating for the company in a research note on Wednesday, April 29th. Five research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the stock. The company has an average rating of Hold and an average price target of $157.46.
ADP stock opened at $132.91 on Thursday. The stock has a 50-day moving average price of $147.29 and a two-hundred day moving average price of $150.95. Automatic Data Processing has a 1 year low of $103.11 and a 1 year high of $182.32. The stock has a market cap of $57.12 billion, a PE ratio of 22.45, a price-to-earnings-growth ratio of 2.22 and a beta of 0.82. The company has a current ratio of 1.05, a quick ratio of 1.03 and a debt-to-equity ratio of 0.23.
Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, July 29th. The business services provider reported $1.14 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.18. Automatic Data Processing had a return on equity of 46.66% and a net margin of 16.91%. The company had revenue of $3.40 billion during the quarter, compared to analysts’ expectations of $3.32 billion. During the same period in the prior year, the firm earned $1.14 earnings per share. Automatic Data Processing’s revenue for the quarter was down 2.8% compared to the same quarter last year. On average, analysts forecast that Automatic Data Processing will post 5.04 earnings per share for the current fiscal year.
In related news, VP Brian L. Michaud sold 250 shares of Automatic Data Processing stock in a transaction that occurred on Friday, July 10th. The stock was sold at an average price of $145.00, for a total transaction of $36,250.00. Following the completion of the sale, the vice president now directly owns 5,162 shares of the company’s stock, valued at approximately $748,490. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.31% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Alliancebernstein L.P. raised its stake in Automatic Data Processing by 26.8% in the 1st quarter. Alliancebernstein L.P. now owns 9,561,003 shares of the business services provider’s stock worth $1,306,798,000 after purchasing an additional 2,021,774 shares in the last quarter. M&G Investment Management Ltd. increased its holdings in shares of Automatic Data Processing by 9,689.2% during the first quarter. M&G Investment Management Ltd. now owns 901,978 shares of the business services provider’s stock worth $123,571,000 after purchasing an additional 892,764 shares during the period. Morgan Stanley raised its position in shares of Automatic Data Processing by 6.5% in the first quarter. Morgan Stanley now owns 11,440,067 shares of the business services provider’s stock valued at $1,563,628,000 after buying an additional 702,522 shares in the last quarter. Mackenzie Financial Corp boosted its stake in shares of Automatic Data Processing by 37.3% in the first quarter. Mackenzie Financial Corp now owns 2,238,027 shares of the business services provider’s stock valued at $305,894,000 after buying an additional 608,417 shares during the period. Finally, Public Investment Fund acquired a new stake in Automatic Data Processing during the first quarter worth approximately $78,454,000. Institutional investors and hedge funds own 79.82% 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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