Automatic Data Processing (NASDAQ:ADP) Cut to Hold at BidaskClub

BidaskClub lowered shares of Automatic Data Processing (NASDAQ:ADP) from a buy rating to a hold rating in a report published on Tuesday, BidAskClub reports.

A number of other analysts have also weighed in on ADP. JPMorgan Chase & Co. increased their price objective on shares of Automatic Data Processing from $170.00 to $177.00 and gave the stock a neutral rating in a research report on Thursday, August 1st. Credit Suisse Group reissued a buy rating and issued a $185.00 price objective on shares of Automatic Data Processing in a research report on Monday, November 4th. Wolfe Research lowered shares of Automatic Data Processing from an outperform rating to a market perform rating in a research report on Thursday, October 31st. Bank of America lowered shares of Automatic Data Processing from a buy rating to a neutral rating in a research report on Wednesday, September 11th. Finally, Jefferies Financial Group raised their target price on shares of Automatic Data Processing to $176.00 and gave the stock a hold rating in a research report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company’s stock. Automatic Data Processing has a consensus rating of Hold and an average target price of $179.56.

ADP stock traded up $0.63 during trading on Tuesday, reaching $162.73. The company’s stock had a trading volume of 1,787,500 shares, compared to its average volume of 1,965,491. The company has a quick ratio of 1.05, a current ratio of 1.01 and a debt-to-equity ratio of 0.19. Automatic Data Processing has a 1 year low of $121.40 and a 1 year high of $174.50. The company has a market capitalization of $67.94 billion, a P/E ratio of 29.86, a price-to-earnings-growth ratio of 1.96 and a beta of 0.88. The company’s fifty day moving average is $161.15 and its 200-day moving average is $163.76.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, October 30th. The business services provider reported $1.34 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.33 by $0.01. Automatic Data Processing had a net margin of 16.52% and a return on equity of 46.94%. The company had revenue of $3.50 billion for the quarter, compared to analyst estimates of $3.52 billion. During the same period in the prior year, the company posted $1.20 EPS. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. Analysts anticipate that Automatic Data Processing will post 6.17 earnings per share for the current year.

In related news, VP Brock Albinson sold 6,683 shares of Automatic Data Processing stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $167.87, for a total transaction of $1,121,875.21. Following the transaction, the vice president now directly owns 6,302 shares of the company’s stock, valued at $1,057,916.74. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Carlos A. Rodriguez sold 49,392 shares of Automatic Data Processing stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $161.70, for a total transaction of $7,986,686.40. Following the transaction, the chief executive officer now directly owns 132,338 shares in the company, valued at $21,399,054.60. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. Valmark Advisers Inc. increased its holdings in Automatic Data Processing by 6.7% during the third quarter. Valmark Advisers Inc. now owns 2,325 shares of the business services provider’s stock valued at $375,000 after buying an additional 147 shares during the period. Cetera Investment Advisers increased its holdings in Automatic Data Processing by 33.1% during the third quarter. Cetera Investment Advisers now owns 2,965 shares of the business services provider’s stock valued at $476,000 after buying an additional 738 shares during the period. Cetera Advisors LLC increased its holdings in Automatic Data Processing by 19.3% during the third quarter. Cetera Advisors LLC now owns 10,884 shares of the business services provider’s stock valued at $1,754,000 after buying an additional 1,763 shares during the period. Cetera Advisor Networks LLC increased its holdings in Automatic Data Processing by 8.4% during the third quarter. Cetera Advisor Networks LLC now owns 11,723 shares of the business services provider’s stock valued at $1,888,000 after buying an additional 907 shares during the period. Finally, Trillium Asset Management LLC purchased a new position in Automatic Data Processing during the third quarter valued at approximately $353,000. 80.28% of the stock is currently owned by institutional investors.

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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Analyst Recommendations for Automatic Data Processing (NASDAQ:ADP)

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