Automatic Data Processing (NYSE:ADP) had its price target boosted by equities researchers at Bank of America Corporation from $111.00 to $114.00 in a research note issued to investors on Friday, October 13th. The brokerage presently has a “neutral” rating on the business services provider’s stock. Bank of America Corporation’s price target indicates a potential downside of 2.01% from the stock’s current price.
Other equities analysts have also recently issued research reports about the company. Argus upped their price target on Automatic Data Processing from $118.00 to $130.00 and gave the stock a “buy” rating in a report on Thursday, August 3rd. BidaskClub raised Automatic Data Processing from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. Barclays PLC cut Automatic Data Processing from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $110.00 to $105.00 in a report on Tuesday, July 18th. Stifel Nicolaus restated a “hold” rating and issued a $108.00 price target (up from $103.00) on shares of Automatic Data Processing in a research report on Sunday, July 30th. Finally, Deutsche Bank AG restated a “hold” rating and issued a $102.00 price target on shares of Automatic Data Processing in a research report on Monday, August 21st. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Automatic Data Processing currently has an average rating of “Hold” and an average target price of $109.25.
Automatic Data Processing (ADP) traded up 0.65% on Friday, reaching $117.10. 592,354 shares of the company’s stock traded hands. The firm’s 50-day moving average is $110.88 and its 200 day moving average is $105.50. The firm has a market cap of $52.04 billion and a PE ratio of 30.42. Automatic Data Processing has a 12 month low of $85.48 and a 12 month high of $121.77.
Automatic Data Processing (NYSE:ADP) last issued its earnings results on Thursday, July 27th. The business services provider reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.02). The company had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $3.04 billion. Automatic Data Processing had a return on equity of 26.39% and a net margin of 8.67%. The firm’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.69 EPS. Equities analysts predict that Automatic Data Processing will post $3.81 EPS for the current year.
In related news, VP Maria Black sold 631 shares of the firm’s stock in a transaction dated Saturday, September 2nd. The stock was sold at an average price of $106.64, for a total transaction of $67,289.84. Following the transaction, the vice president now owns 10,550 shares of the company’s stock, valued at $1,125,052. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Brock Albinson sold 3,663 shares of Automatic Data Processing stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $106.54, for a total value of $390,256.02. Following the completion of the sale, the vice president now directly owns 6,287 shares in the company, valued at approximately $669,816.98. The disclosure for this sale can be found here.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in Automatic Data Processing by 2.4% in the 2nd quarter. Vanguard Group Inc. now owns 34,999,981 shares of the business services provider’s stock valued at $3,586,099,000 after purchasing an additional 811,960 shares in the last quarter. BlackRock Inc. lifted its position in shares of Automatic Data Processing by 0.8% during the 2nd quarter. BlackRock Inc. now owns 29,869,208 shares of the business services provider’s stock valued at $3,060,398,000 after acquiring an additional 237,439 shares during the period. Alliancebernstein L.P. lifted its position in shares of Automatic Data Processing by 6.2% during the 1st quarter. Alliancebernstein L.P. now owns 8,345,691 shares of the business services provider’s stock valued at $854,515,000 after acquiring an additional 485,320 shares during the period. Wells Fargo & Company MN lifted its position in shares of Automatic Data Processing by 2.9% during the 2nd quarter. Wells Fargo & Company MN now owns 6,794,660 shares of the business services provider’s stock valued at $696,182,000 after acquiring an additional 190,717 shares during the period. Finally, Polen Capital Management LLC lifted its position in shares of Automatic Data Processing by 6.6% during the 2nd quarter. Polen Capital Management LLC now owns 6,661,902 shares of the business services provider’s stock valued at $682,578,000 after acquiring an additional 411,369 shares during the period.
Automatic Data Processing Company Profile
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.