Automatic Data Processing (NASDAQ:ADP) Stock Rating Upgraded by BidaskClub

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Automatic Data Processing (NASDAQ:ADP) was upgraded by equities researchers at BidaskClub from a “hold” rating to a “buy” rating in a report issued on Wednesday, BidAskClub reports.

Several other brokerages also recently weighed in on ADP. Morgan Stanley lifted their target price on Automatic Data Processing from $174.00 to $180.00 and gave the company an “equal weight” rating in a research note on Thursday, January 23rd. Credit Suisse Group reiterated a “buy” rating and issued a $185.00 target price on shares of Automatic Data Processing in a research note on Monday, November 4th. Wolfe Research downgraded Automatic Data Processing from an “outperform” rating to a “market perform” rating in a research note on Thursday, October 31st. Citigroup lifted their target price on Automatic Data Processing from $170.00 to $185.00 and gave the company a “neutral” rating in a research note on Tuesday, January 14th. Finally, Evercore ISI upgraded Automatic Data Processing from an “in-line” rating to an “outperform” rating and set a $212.00 price target on the stock in a research note on Wednesday, January 22nd. Ten research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $185.70.

Shares of ADP stock opened at $178.30 on Wednesday. The business’s 50 day moving average is $171.73 and its two-hundred day moving average is $166.86. Automatic Data Processing has a twelve month low of $133.76 and a twelve month high of $179.89. The company has a market capitalization of $76.68 billion, a P/E ratio of 32.84, a price-to-earnings-growth ratio of 2.21 and a beta of 0.86. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.19.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, October 30th. The business services provider reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.01. Automatic Data Processing had a return on equity of 46.94% and a net margin of 16.52%. The company had revenue of $3.50 billion for the quarter, compared to the consensus estimate of $3.52 billion. During the same period last year, the business posted $1.20 EPS. The company’s revenue was up 5.6% on a year-over-year basis. As a group, equities analysts predict that Automatic Data Processing will post 6.16 earnings per share for the current fiscal year.

Automatic Data Processing announced that its board has approved a share buyback program on Tuesday, November 12th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the business services provider to purchase up to 6.8% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

In other Automatic Data Processing news, VP Don Mcguire sold 326 shares of the business’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $172.07, for a total transaction of $56,094.82. Following the sale, the vice president now directly owns 6,916 shares in the company, valued at $1,190,036.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP John Ayala sold 6,484 shares of the business’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $176.03, for a total value of $1,141,378.52. Following the sale, the vice president now owns 19,578 shares in the company, valued at $3,446,315.34. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 57,381 shares of company stock worth $9,722,333. 0.31% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of ADP. CIBC Asset Management Inc increased its stake in Automatic Data Processing by 2.3% in the third quarter. CIBC Asset Management Inc now owns 74,471 shares of the business services provider’s stock valued at $12,021,000 after purchasing an additional 1,684 shares during the last quarter. Squarepoint Ops LLC increased its stake in Automatic Data Processing by 38.8% in the third quarter. Squarepoint Ops LLC now owns 105,650 shares of the business services provider’s stock valued at $17,054,000 after purchasing an additional 29,532 shares during the last quarter. Lenox Wealth Advisors LLC increased its stake in Automatic Data Processing by 18.1% in the fourth quarter. Lenox Wealth Advisors LLC now owns 1,710 shares of the business services provider’s stock valued at $292,000 after purchasing an additional 262 shares during the last quarter. D.B. Root & Company LLC increased its stake in Automatic Data Processing by 1.5% in the third quarter. D.B. Root & Company LLC now owns 20,396 shares of the business services provider’s stock valued at $3,292,000 after purchasing an additional 306 shares during the last quarter. Finally, Advisors Capital Management LLC increased its stake in Automatic Data Processing by 215.6% in the fourth quarter. Advisors Capital Management LLC now owns 10,958 shares of the business services provider’s stock valued at $1,868,000 after purchasing an additional 7,486 shares during the last quarter. Institutional investors own 80.10% of the company’s stock.

Automatic Data Processing Company Profile

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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