Automatic Data Processing Inc. (ADP) Upgraded to Strong-Buy by Vetr Inc.
Vetr upgraded shares of Automatic Data Processing Inc. (NASDAQ:ADP) from a buy rating to a strong-buy rating in a report released on Tuesday morning. They currently have $97.00 price objective on the stock.
A number of other equities research analysts also recently commented on the company. Wedbush began coverage on Automatic Data Processing in a research report on Friday, September 9th. They set a neutral rating and a $100.00 price objective for the company. Jefferies Group increased their price objective on Automatic Data Processing from $75.00 to $81.00 and gave the company an underperform rating in a research report on Monday, August 1st. Citigroup Inc. increased their target price on Automatic Data Processing from $89.00 to $90.00 and gave the company a neutral rating in a report on Friday, July 29th. Robert W. Baird lowered Automatic Data Processing from an outperform rating to a neutral rating and set a $94.00 target price for the company. in a report on Friday, July 29th. Finally, Sanford C. Bernstein upgraded Automatic Data Processing from a mkt perform rating to an outperform rating in a report on Monday, July 11th. Four research analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of €90.95 ($101.06).
Shares of Automatic Data Processing (NASDAQ:ADP) opened at 87.99 on Tuesday. Automatic Data Processing has a 12 month low of $76.65 and a 12 month high of $96.00. The stock has a market cap of $40.14 billion, a P/E ratio of 27.09 and a beta of 0.81. The stock has a 50 day moving average price of $89.10 and a 200-day moving average price of $89.31.
Several large investors have recently modified their holdings of the stock. Clear Harbor Asset Management LLC acquired a new stake in shares of Automatic Data Processing during the first quarter valued at about $201,000. Haverford Financial Services Inc. acquired a new stake in shares of Automatic Data Processing during the first quarter valued at about $213,000. NorthRock Partners LLC increased its stake in shares of Automatic Data Processing by 2.4% in the first quarter. NorthRock Partners LLC now owns 2,491 shares of the company’s stock valued at $225,000 after buying an additional 59 shares in the last quarter. NN Investment Partners Holdings N.V. acquired a new stake in shares of Automatic Data Processing during the first quarter valued at about $240,000. Finally, Smith Moore & CO. acquired a new stake in shares of Automatic Data Processing during the first quarter valued at about $256,000. 76.89% of the stock is currently owned by institutional investors.
Automatic Data Processing Company Profile
Automatic Data Processing, Inc (ADP) is a provider of human capital management (HCM) solutions and business process outsourcing. The Company operates through two segments: Employer Services and Professional Employer Organization (PEO) Services. The Employer Services segment offers a range of business outsourcing and technology-enabled HCM solutions.
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