Weekly Analysts’ Ratings Updates for Automatic Data Processing (ADP)

A number of firms have modified their ratings and price targets on shares of Automatic Data Processing (NYSE: ADP) recently:

  • 8/9/2017 – Automatic Data Processing had its “market perform” rating reaffirmed by analysts at BMO Capital Markets. They now have a $105.00 price target on the stock.
  • 8/9/2017 – Automatic Data Processing had its “market perform” rating reaffirmed by analysts at Wells Fargo & Company.
  • 8/3/2017 – Automatic Data Processing was downgraded by analysts at Morgan Stanley from an “equal weight” rating to an “underweight” rating. They now have a $100.00 price target on the stock, up previously from $98.00.
  • 8/3/2017 – Automatic Data Processing had its price target raised by analysts at Argus from $118.00 to $130.00. They now have a “buy” rating on the stock.
  • 8/1/2017 – Automatic Data Processing was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 8/1/2017 – Automatic Data Processing had its price target raised by analysts at Royal Bank Of Canada from $94.00 to $95.00. They now have a “sector perform” rating on the stock.
  • 7/30/2017 – Automatic Data Processing had its “neutral” rating reaffirmed by analysts at Robert W. Baird. They now have a $95.00 price target on the stock.
  • 7/30/2017 – Automatic Data Processing had its “hold” rating reaffirmed by analysts at Stifel Nicolaus. They now have a $108.00 price target on the stock, up previously from $103.00.
  • 7/28/2017 – Automatic Data Processing had its “outperform” rating reaffirmed by analysts at BMO Capital Markets. They now have a $105.00 price target on the stock, up previously from $100.00.
  • 7/21/2017 – Automatic Data Processing was downgraded by analysts at William Blair from an “outperform” rating to a “market perform” rating.
  • 7/18/2017 – Automatic Data Processing was downgraded by analysts at Barclays PLC from an “overweight” rating to an “equal weight” rating. They now have a $105.00 price target on the stock, down previously from $110.00.
  • 7/12/2017 – Automatic Data Processing was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 7/4/2017 – Automatic Data Processing was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “ADP holds a dominant position in the payroll processing and human capital management market, primarily due to its robust product portfolio.  We believe that the company’s higher revenue per client and a decent customer retention ratio place it in an advantageous position. The company now expects new business bookings to decline year-over-year in fiscal 2017. Further, we expect the company’s investments in new initiatives to weigh on near-term earnings growth. Moreover, the divestiture of Consumer Health Spending Account (CHSA) and Consolidated Omnibus Reconciliation Act (COBRA) businesses will impact top-line growth in the rest of 2017. Increasing competition is also a headiwnd. We  note that the stock has underperformed the S&P 500 index on a year-to-date.”
  • 6/20/2017 – Automatic Data Processing was downgraded by analysts at Goldman Sachs Group, Inc. (The) from a “buy” rating to a “neutral” rating. They now have a $108.00 price target on the stock, down previously from $115.00.

Automatic Data Processing (ADP) traded up 0.38% on Friday, hitting $109.31. The stock had a trading volume of 2,398,071 shares. The company has a 50-day moving average price of $106.07 and a 200-day moving average price of $102.56. Automatic Data Processing has a 52 week low of $85.48 and a 52 week high of $121.77. The stock has a market capitalization of $48.57 billion and a price-to-earnings ratio of 28.39. Automatic Data Processing also was the target of some unusual options trading on Tuesday. Stock traders purchased 15,090 put options on the company. This represents an increase of approximately 264% compared to the typical volume of 4,143 put options.

Automatic Data Processing (NYSE:ADP) last released its quarterly earnings results on Thursday, July 27th. The business services provider reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by $0.02. The company had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.04 billion. Automatic Data Processing had a net margin of 17.24% and a return on equity of 59.56%. Automatic Data Processing’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.69 EPS. Equities research analysts anticipate that Automatic Data Processing will post $3.82 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Sunday, October 1st. Shareholders of record on Friday, September 8th will be paid a dividend of $0.57 per share. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $2.28 dividend on an annualized basis and a yield of 2.09%.

In other Automatic Data Processing news, insider Michael A. Bonarti sold 2,932 shares of Automatic Data Processing stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $101.98, for a total transaction of $299,005.36. Following the completion of the transaction, the insider now owns 46,256 shares in the company, valued at approximately $4,717,186.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Carlos A. Rodriguez sold 36,363 shares of Automatic Data Processing stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $110.00, for a total value of $3,999,930.00. Following the transaction, the chief executive officer now owns 146,494 shares of the company’s stock, valued at approximately $16,114,340. The disclosure for this sale can be found here. Insiders have sold a total of 90,620 shares of company stock valued at $9,435,757 in the last quarter.

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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