Automatic Data Processing (NASDAQ:ADP) had its price objective trimmed by Stifel Nicolaus from $155.00 to $142.00 in a report released on Thursday morning, BenzingaRatingsTable reports. The firm currently has a hold rating on the business services provider’s stock.
A number of other research firms have also recently weighed in on ADP. Cfra reduced their price target on Automatic Data Processing from $176.00 to $161.00 and set a hold rating for the company in a report on Wednesday, April 29th. Citigroup decreased their target price on Automatic Data Processing from $148.00 to $144.00 and set a neutral rating on the stock in a research report on Thursday. Cowen cut their price target on shares of Automatic Data Processing from $195.00 to $158.00 and set an outperform rating for the company in a report on Friday, April 24th. BidaskClub downgraded shares of Automatic Data Processing from a hold rating to a sell rating in a report on Thursday, July 23rd. Finally, Wedbush reissued a neutral rating on shares of Automatic Data Processing in a research note on Wednesday, April 29th. Five investment analysts have rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the company’s stock. Automatic Data Processing currently has an average rating of Hold and a consensus price target of $157.46.
NASDAQ:ADP opened at $132.91 on Thursday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.05 and a quick ratio of 1.03. The company has a 50 day moving average price of $147.29 and a 200-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 firm has a market cap of $57.12 billion, a price-to-earnings ratio of 22.45, a price-to-earnings-growth ratio of 2.22 and a beta of 0.82.
Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, July 29th. The business services provider reported $1.14 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.96 by $0.18. The company had revenue of $3.40 billion for the quarter, compared to analyst estimates of $3.32 billion. Automatic Data Processing had a net margin of 16.91% and a return on equity of 46.66%. The firm’s revenue was down 2.8% on a year-over-year basis. During the same quarter last year, the business earned $1.14 earnings per share. On average, sell-side analysts anticipate 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 the stock in a transaction that occurred on Friday, July 10th. The stock was sold at an average price of $145.00, for a total value of $36,250.00. Following the completion of the sale, the vice president now owns 5,162 shares of the company’s stock, valued at $748,490. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.31% of the company’s stock.
A number of large investors have recently modified their holdings of the business. APG Asset Management N.V. grew its holdings in shares of Automatic Data Processing by 97.0% in the first quarter. APG Asset Management N.V. now owns 588,720 shares of the business services provider’s stock valued at $80,466,000 after purchasing an additional 289,810 shares during the period. BDO Wealth Advisors LLC purchased a new stake in shares of Automatic Data Processing in the 1st quarter valued at approximately $82,000. OmniStar Financial Group Inc. increased its holdings in shares of Automatic Data Processing by 40.3% during the 2nd quarter. OmniStar Financial Group Inc. now owns 9,597 shares of the business services provider’s stock worth $1,429,000 after buying an additional 2,756 shares during the last quarter. Financial Management Professionals Inc. raised its position in shares of Automatic Data Processing by 28,100.0% during the 2nd quarter. Financial Management Professionals Inc. now owns 282 shares of the business services provider’s stock valued at $42,000 after buying an additional 281 shares during the period. Finally, Meeder Asset Management Inc. lifted its holdings in Automatic Data Processing by 17.0% in the first quarter. Meeder Asset Management Inc. now owns 1,290 shares of the business services provider’s stock valued at $176,000 after acquiring an additional 187 shares during the last quarter. Institutional investors 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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