Automatic Data Processing (ADP) Downgraded by BidaskClub to “Sell”
Automatic Data Processing (NASDAQ:ADP) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a report issued on Saturday.
Several other research analysts have also recently weighed in on ADP. Royal Bank of Canada reaffirmed a “hold” rating and issued a $95.00 price target on shares of Automatic Data Processing in a report on Friday, September 15th. Zacks Investment Research raised shares of Automatic Data Processing from a “sell” rating to a “hold” rating in a report on Monday, October 2nd. Stifel Nicolaus reaffirmed a “hold” rating and issued a $108.00 price target on shares of Automatic Data Processing in a report on Wednesday, October 4th. Bank of America upped their price target on shares of Automatic Data Processing from $111.00 to $114.00 and gave the stock a “neutral” rating in a report on Friday, October 13th. Finally, Barclays upped their price target on shares of Automatic Data Processing from $105.00 to $115.00 and gave the stock an “equal weight” rating in a report on Thursday, October 26th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and five have assigned a buy rating to the stock. Automatic Data Processing currently has an average rating of “Hold” and a consensus target price of $115.21.
Automatic Data Processing (NASDAQ:ADP) opened at $118.47 on Friday. The firm has a market cap of $52,540.00, a price-to-earnings ratio of 30.07, a PEG ratio of 2.93 and a beta of 0.85. Automatic Data Processing has a 1-year low of $94.11 and a 1-year high of $121.77. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.10 and a quick ratio of 1.10.
Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Thursday, November 2nd. The business services provider reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.06. The firm had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $3.06 billion. Automatic Data Processing had a net margin of 14.08% and a return on equity of 42.34%. The business’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.86 earnings per share. research analysts expect that Automatic Data Processing will post 3.91 EPS for the current year.
In other Automatic Data Processing news, Director John P. Jones III sold 5,688 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $116.03, for a total transaction of $659,978.64. Following the completion of the sale, the director now directly owns 53,956 shares in the company, valued at $6,260,514.68. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Michael A. Bonarti sold 3,900 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $116.03, for a total transaction of $452,517.00. The disclosure for this sale can be found here. Insiders sold 115,505 shares of company stock valued at $13,612,788 over the last quarter. 0.25% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Proficio Capital Partners LLC boosted its holdings in shares of Automatic Data Processing by 1.8% during the second quarter. Proficio Capital Partners LLC now owns 964 shares of the business services provider’s stock worth $111,000 after purchasing an additional 17 shares during the period. Acrospire Investment Management LLC purchased a new stake in shares of Automatic Data Processing during the second quarter worth about $102,000. Wealthcare Advisory Partners LLC purchased a new stake in shares of Automatic Data Processing during the third quarter worth about $114,000. Grove Bank & Trust boosted its holdings in shares of Automatic Data Processing by 16.4% during the second quarter. Grove Bank & Trust now owns 1,208 shares of the business services provider’s stock worth $124,000 after purchasing an additional 170 shares during the period. Finally, Family Capital Trust Co purchased a new stake in shares of Automatic Data Processing during the third quarter worth about $137,000. Institutional investors and hedge funds own 78.68% of the company’s stock.
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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.
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