Automatic Data Processing (NASDAQ:ADP)‘s stock had its “neutral” rating reiterated by stock analysts at Citigroup in a research note issued to investors on Friday. They currently have a $118.00 price target on the business services provider’s stock, up from their prior price target of $110.00. Citigroup’s price target points to a potential upside of 0.70% from the company’s previous close.

ADP has been the subject of a number of other research reports. Zacks Investment Research lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Tuesday, October 17th. Royal Bank of Canada reaffirmed a “hold” rating and issued a $95.00 price objective on shares of Automatic Data Processing in a research note on Friday, September 15th. BidaskClub lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Friday, September 15th. Sanford C. Bernstein upped their price objective on Automatic Data Processing from $115.00 to $125.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 31st. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $108.00 price objective on shares of Automatic Data Processing in a research note on Wednesday, October 4th. Twelve investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $115.21.

Automatic Data Processing (NASDAQ ADP) traded down $0.47 during trading hours on Friday, reaching $117.18. The company’s stock had a trading volume of 1,157,500 shares, compared to its average volume of 1,857,225. Automatic Data Processing has a twelve month low of $94.11 and a twelve month high of $121.77. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $52,460.00, a price-to-earnings ratio of 29.74, a PEG ratio of 2.93 and a beta of 0.85.

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 (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.06. Automatic Data Processing had a return on equity of 42.34% and a net margin of 14.08%. The business had revenue of $3.08 billion during the quarter, compared to analyst estimates of $3.06 billion. During the same quarter in the previous year, the company posted $0.86 earnings per share. Automatic Data Processing’s revenue for the quarter was up 5.6% on a year-over-year basis. equities analysts anticipate that Automatic Data Processing will post 3.91 earnings per share for the current year.

In other Automatic Data Processing news, insider Edward B. Flynn III sold 7,886 shares of the company’s stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $117.74, for a total transaction of $928,497.64. Following the sale, the insider now directly owns 40,522 shares in the company, valued at $4,771,060.28. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Carlos A. Rodriguez sold 95,756 shares of the company’s stock in a transaction that occurred on Thursday, January 4th. The shares were sold at an average price of $118.09, for a total value of $11,307,826.04. Following the sale, the chief executive officer now owns 124,722 shares in the company, valued at $14,728,420.98. The disclosure for this sale can be found here. Insiders sold 115,505 shares of company stock worth $13,612,788 over the last quarter. 0.25% of the stock is owned by company insiders.

A number of hedge funds have recently modified their holdings of ADP. Proficio Capital Partners LLC raised its holdings in shares of Automatic Data Processing by 1.8% in the second quarter. Proficio Capital Partners LLC now owns 964 shares of the business services provider’s stock worth $111,000 after buying an additional 17 shares during the period. Northwest Quadrant Wealth Management LLC raised its holdings in shares of Automatic Data Processing by 0.5% in the second quarter. Northwest Quadrant Wealth Management LLC now owns 4,221 shares of the business services provider’s stock worth $458,000 after buying an additional 21 shares during the period. Ironwood Investment Management LLC raised its holdings in shares of Automatic Data Processing by 0.7% in the second quarter. Ironwood Investment Management LLC now owns 3,463 shares of the business services provider’s stock worth $355,000 after buying an additional 25 shares during the period. Savant Capital LLC raised its holdings in shares of Automatic Data Processing by 0.5% in the second quarter. Savant Capital LLC now owns 4,729 shares of the business services provider’s stock worth $484,000 after buying an additional 25 shares during the period. Finally, PagnatoKarp Partners LLC raised its holdings in shares of Automatic Data Processing by 1.1% in the second quarter. PagnatoKarp Partners LLC now owns 2,643 shares of the business services provider’s stock worth $272,000 after buying an additional 29 shares during the period. Institutional investors and hedge funds own 78.67% of the company’s stock.

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About Automatic Data Processing

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.

Analyst Recommendations for Automatic Data Processing (NASDAQ:ADP)

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