BidaskClub downgraded shares of Automatic Data Processing (NASDAQ:ADP) from a buy rating to a hold rating in a research report released on Tuesday, BidAskClub reports.

A number of other analysts have also issued reports on the stock. Cowen initiated coverage on shares of Automatic Data Processing in a research note on Wednesday, September 11th. They set an outperform rating and a $195.00 price target on the stock. Barclays boosted their price target on shares of Automatic Data Processing from $180.00 to $190.00 and gave the stock an overweight rating in a research note on Monday, August 5th. JPMorgan Chase & Co. boosted their price target on shares of Automatic Data Processing from $170.00 to $177.00 and gave the stock a neutral rating in a research note on Thursday, August 1st. Robert W. Baird boosted their price target on shares of Automatic Data Processing from $167.00 to $178.00 and gave the stock a neutral rating in a research note on Thursday, August 1st. Finally, Credit Suisse Group reiterated a buy rating and set a $185.00 price target on shares of Automatic Data Processing in a research note on Monday. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the stock. Automatic Data Processing has a consensus rating of Hold and a consensus price target of $179.56.

ADP traded up $0.63 on Tuesday, hitting $162.73. The company had a trading volume of 1,787,500 shares, compared to its average volume of 1,965,491. The firm has a market cap of $67.94 billion, a P/E ratio of 29.86, a PEG ratio of 1.96 and a beta of 0.88. Automatic Data Processing has a 1 year low of $121.40 and a 1 year high of $174.50. The company’s fifty day moving average price is $161.15 and its 200 day moving average price is $163.76. The company has a current ratio of 1.01, a quick ratio of 1.05 and a debt-to-equity ratio of 0.19.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, October 30th. The business services provider reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.01. The firm had revenue of $3.50 billion for the quarter, compared to analyst estimates of $3.52 billion. Automatic Data Processing had a net margin of 16.52% and a return on equity of 46.94%. Automatic Data Processing’s revenue was up 5.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.20 EPS. On average, analysts predict that Automatic Data Processing will post 6.17 earnings per share for the current year.

In other news, VP Brock Albinson sold 6,683 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $167.87, for a total transaction of $1,121,875.21. Following the completion of the transaction, the vice president now directly owns 6,302 shares of the company’s stock, valued at $1,057,916.74. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Carlos A. Rodriguez sold 49,392 shares of the business’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $161.70, for a total value of $7,986,686.40. Following the transaction, the chief executive officer now directly owns 132,338 shares of the company’s stock, valued at $21,399,054.60. The disclosure for this sale can be found here. 0.31% of the stock is owned by corporate insiders.

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Automatic Data Processing by 1.7% during the second quarter. Vanguard Group Inc. now owns 38,214,507 shares of the business services provider’s stock worth $6,318,005,000 after buying an additional 644,178 shares in the last quarter. BlackRock Inc. grew its position in shares of Automatic Data Processing by 1.2% during the second quarter. BlackRock Inc. now owns 30,955,650 shares of the business services provider’s stock worth $5,117,899,000 after buying an additional 368,108 shares in the last quarter. Morgan Stanley boosted its holdings in Automatic Data Processing by 6.5% in the second quarter. Morgan Stanley now owns 8,414,928 shares of the business services provider’s stock valued at $1,391,241,000 after purchasing an additional 516,484 shares in the last quarter. Nuveen Asset Management LLC boosted its holdings in Automatic Data Processing by 40,836.2% in the second quarter. Nuveen Asset Management LLC now owns 4,719,538 shares of the business services provider’s stock valued at $780,281,000 after purchasing an additional 4,708,009 shares in the last quarter. Finally, UBS Asset Management Americas Inc. boosted its holdings in Automatic Data Processing by 1.9% in the second quarter. UBS Asset Management Americas Inc. now owns 2,654,667 shares of the business services provider’s stock valued at $438,896,000 after purchasing an additional 48,315 shares in the last quarter. 80.28% of the stock is owned by institutional investors and hedge funds.

About Automatic Data Processing

Automatic Data Processing, Inc provides business process outsourcing services worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO) Services. The Employer Services segment offers various human resources (HR) outsourcing and technology-based human capital management solutions.

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Analyst Recommendations for Automatic Data Processing (NASDAQ:ADP)

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