StockNews.com Downgrades Automatic Data Processing (NASDAQ:ADP) to Hold

Automatic Data Processing (NASDAQ:ADP) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Wednesday.

A number of other brokerages have also issued reports on ADP. TD Cowen boosted their price target on shares of Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Barclays boosted their price target on shares of Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a research note on Monday. Royal Bank of Canada reiterated a “sector perform” rating and set a $315.00 price target on shares of Automatic Data Processing in a research note on Thursday, January 30th. Mizuho upped their target price on shares of Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. Finally, Jefferies Financial Group upped their target price on shares of Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $293.55.

Automatic Data Processing Trading Down 0.9 %

Shares of ADP stock opened at $304.67 on Wednesday. The company’s 50-day moving average price is $297.22 and its 200-day moving average price is $285.26. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59. The stock has a market cap of $124.14 billion, a price-to-earnings ratio of 31.77, a PEG ratio of 3.52 and a beta of 0.79. Automatic Data Processing has a twelve month low of $231.27 and a twelve month high of $311.67.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.05. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. As a group, equities analysts predict that Automatic Data Processing will post 9.94 earnings per share for the current year.

Insider Activity

In other Automatic Data Processing news, VP David Foskett sold 1,004 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $289.29, for a total value of $290,447.16. Following the transaction, the vice president now owns 5,958 shares in the company, valued at $1,723,589.82. The trade was a 14.42 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Brian L. Michaud sold 362 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $293.83, for a total transaction of $106,366.46. Following the completion of the transaction, the vice president now owns 13,706 shares in the company, valued at $4,027,233.98. This represents a 2.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,478 shares of company stock valued at $1,617,241 in the last ninety days. Company insiders own 0.21% of the company’s stock.

Institutional Investors Weigh In On Automatic Data Processing

Several hedge funds and other institutional investors have recently modified their holdings of ADP. Tower Wealth Partners Inc. increased its holdings in shares of Automatic Data Processing by 3.4% in the third quarter. Tower Wealth Partners Inc. now owns 1,054 shares of the business services provider’s stock valued at $292,000 after purchasing an additional 35 shares during the last quarter. Harbour Investments Inc. increased its holdings in shares of Automatic Data Processing by 2.1% in the third quarter. Harbour Investments Inc. now owns 1,742 shares of the business services provider’s stock valued at $482,000 after purchasing an additional 36 shares during the last quarter. Aspiriant LLC increased its holdings in shares of Automatic Data Processing by 1.5% in the fourth quarter. Aspiriant LLC now owns 2,372 shares of the business services provider’s stock valued at $694,000 after purchasing an additional 36 shares during the last quarter. Precedent Wealth Partners LLC increased its holdings in shares of Automatic Data Processing by 0.7% in the fourth quarter. Precedent Wealth Partners LLC now owns 5,009 shares of the business services provider’s stock valued at $1,466,000 after purchasing an additional 36 shares during the last quarter. Finally, Petredis Investment Advisors LLC increased its holdings in shares of Automatic Data Processing by 0.4% in the third quarter. Petredis Investment Advisors LLC now owns 10,485 shares of the business services provider’s stock valued at $2,902,000 after purchasing an additional 37 shares during the last quarter. Institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Company Profile

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.