BMO Capital Markets reiterated their outperform rating on shares of Automatic Data Processing (NYSE:ADP) in a report published on Friday. They currently have a $105.00 target price on the business services provider’s stock, up from their prior target price of $100.00.

Several other analysts also recently issued reports on the company. Zacks Investment Research downgraded Automatic Data Processing from a hold rating to a sell rating in a research note on Tuesday, July 4th. Barclays PLC reissued a buy rating on shares of Automatic Data Processing in a research note on Thursday, April 27th. Evercore ISI downgraded Automatic Data Processing from an in-line rating to an underperform rating and set a $85.00 price target on the stock. in a research note on Friday, June 2nd. Argus dropped their price target on Automatic Data Processing from $118.00 to $101.50 and set a buy rating on the stock in a research note on Wednesday, May 31st. Finally, BidaskClub downgraded Automatic Data Processing from a buy rating to a hold rating in a research note on Wednesday, July 12th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the stock. Automatic Data Processing has an average rating of Hold and a consensus target price of $101.00.

Automatic Data Processing (NYSE ADP) opened at 118.91 on Friday. Automatic Data Processing has a 52 week low of $85.48 and a 52 week high of $121.77. The firm has a 50-day moving average price of $103.93 and a 200-day moving average price of $102.04. The stock has a market cap of $52.83 billion and a P/E ratio of 30.89.

Automatic Data Processing (NYSE:ADP) last issued its quarterly earnings data on Thursday, July 27th. The business services provider reported $0.65 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.67 by $0.02. Automatic Data Processing had a return on equity of 59.56% and a net margin of 17.24%. The business had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.04 billion. During the same period in the previous year, the business posted $0.69 EPS. The business’s quarterly revenue was up 5.7% compared to the same quarter last year. On average, equities research analysts predict that Automatic Data Processing will post $3.91 EPS for the current year.

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In other news, VP Donald Weinstein sold 1,933 shares of the firm’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $101.98, for a total value of $197,127.34. Following the completion of the transaction, the vice president now owns 25,737 shares in the company, valued at approximately $2,624,659.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Carlos A. Rodriguez sold 49,392 shares of the firm’s stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $100.01, for a total value of $4,939,693.92. Following the completion of the transaction, the chief executive officer now owns 159,403 shares of the company’s stock, valued at approximately $15,941,894.03. The disclosure for this sale can be found here. Insiders sold a total of 90,620 shares of company stock valued at $9,435,757 in the last 90 days.

Several institutional investors have recently made changes to their positions in ADP. Goelzer Investment Management Inc. boosted its position in shares of Automatic Data Processing by 0.3% in the first quarter. Goelzer Investment Management Inc. now owns 4,239 shares of the business services provider’s stock valued at $434,000 after buying an additional 12 shares during the last quarter. Guardian Life Insurance Co. of America boosted its position in shares of Automatic Data Processing by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,740 shares of the business services provider’s stock valued at $178,000 after buying an additional 12 shares during the last quarter. Washington Trust Bank boosted its position in shares of Automatic Data Processing by 0.4% in the second quarter. Washington Trust Bank now owns 3,392 shares of the business services provider’s stock valued at $348,000 after buying an additional 12 shares during the last quarter. Flagship Harbor Advisors LLC boosted its position in shares of Automatic Data Processing by 0.6% in the first quarter. Flagship Harbor Advisors LLC now owns 2,778 shares of the business services provider’s stock valued at $282,000 after buying an additional 16 shares during the last quarter. Finally, Personal Capital Advisors Corp boosted its position in shares of Automatic Data Processing by 0.7% in the second quarter. Personal Capital Advisors Corp now owns 2,371 shares of the business services provider’s stock valued at $243,000 after buying an additional 16 shares during the last quarter.

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.

Analyst Recommendations for Automatic Data Processing (NYSE:ADP)

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