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

Automatic Data Processing (NASDAQ:ADP) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Saturday.

Other analysts also recently issued research reports about the stock. Citigroup increased their target price on shares of Automatic Data Processing from $260.00 to $295.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. TD Cowen increased their price objective on shares of Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Barclays lifted their target price on shares of Automatic Data Processing from $310.00 to $325.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Mizuho increased their price target on Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Finally, UBS Group raised their price objective on Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Automatic Data Processing currently has an average rating of “Hold” and an average target price of $289.91.

Automatic Data Processing Stock Down 1.7 %

Shares of NASDAQ ADP opened at $286.85 on Friday. The stock has a market capitalization of $116.88 billion, a PE ratio of 30.61, a P/E/G ratio of 3.50 and a beta of 0.79. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.56. The firm has a fifty day moving average of $298.46 and a 200-day moving average of $278.61. Automatic Data Processing has a 52-week low of $231.27 and a 52-week high of $309.63.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, October 30th. The business services provider reported $2.33 earnings per share for the quarter, beating analysts’ consensus estimates of $2.21 by $0.12. The firm had revenue of $4.83 billion for the quarter, compared to analysts’ expectations of $4.77 billion. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter last year, the firm earned $2.08 earnings per share. On average, analysts anticipate that Automatic Data Processing will post 9.93 EPS for the current year.

Insider Buying and Selling at Automatic Data Processing

In other news, VP Sreenivasa Kutam sold 38,975 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $300.00, for a total value of $11,692,500.00. Following the completion of the sale, the vice president now directly owns 32,604 shares in the company, valued at approximately $9,781,200. The trade was a 54.45 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP David Foskett sold 1,004 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was 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. This trade represents a 14.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 41,062 shares of company stock valued at $12,299,550 in the last three months. Corporate insiders own 0.21% of the company’s stock.

Hedge Funds Weigh In On Automatic Data Processing

Institutional investors have recently made changes to their positions in the stock. Plato Investment Management Ltd boosted its stake in Automatic Data Processing by 23.8% during the 2nd quarter. Plato Investment Management Ltd now owns 26,610 shares of the business services provider’s stock valued at $6,352,000 after purchasing an additional 5,114 shares during the period. Moloney Securities Asset Management LLC bought a new stake in shares of Automatic Data Processing during the third quarter valued at approximately $209,000. Nomura Asset Management Co. Ltd. boosted its position in shares of Automatic Data Processing by 5.8% during the third quarter. Nomura Asset Management Co. Ltd. now owns 280,961 shares of the business services provider’s stock worth $77,750,000 after buying an additional 15,340 shares during the period. RIA Advisory Group LLC bought a new position in Automatic Data Processing in the 3rd quarter worth approximately $470,000. Finally, Dash Acquisitions Inc. increased its position in Automatic Data Processing by 5.6% in the 3rd quarter. Dash Acquisitions Inc. now owns 52,329 shares of the business services provider’s stock valued at $15,069,000 after acquiring an additional 2,781 shares during the period. 80.03% of the stock is owned by institutional investors.

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.