Barclays PLC Downgrades Automatic Data Processing (ADP) to Equal Weight

Automatic Data Processing (NYSE:ADP) was downgraded by analysts at Barclays PLC from an “overweight” rating to an “equal weight” rating in a note issued to investors on Tuesday.

A number of other equities analysts have also recently commented on ADP. BidaskClub cut Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. Goldman Sachs Group, Inc. (The) cut Automatic Data Processing from a “buy” rating to a “neutral” rating and lowered their target price for the company from $115.00 to $108.00 in a report on Tuesday, June 20th. Evercore ISI restated an “underperform” rating and set a $85.00 target price on shares of Automatic Data Processing in a report on Friday, June 2nd. Argus lowered their target price on Automatic Data Processing from $118.00 to $101.50 and set a “buy” rating for the company in a report on Wednesday, May 31st. Finally, Zacks Investment Research cut Automatic Data Processing from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $99.00.

Shares of Automatic Data Processing (ADP) opened at 101.70 on Tuesday. The stock has a market capitalization of $45.50 billion and a price-to-earnings ratio of 26.31. The stock’s 50 day moving average is $100.83 and its 200-day moving average is $101.57. Automatic Data Processing has a 52 week low of $85.48 and a 52 week high of $105.68.

Automatic Data Processing (NYSE:ADP) last issued its quarterly earnings data on Wednesday, May 3rd. The business services provider reported $1.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.23 by $0.08. The firm had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.42 billion. Automatic Data Processing had a return on equity of 59.56% and a net margin of 17.24%. The company’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period last year, the company earned $1.17 EPS. On average, analysts anticipate that Automatic Data Processing will post $3.71 earnings per share for the current fiscal year.

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In other Automatic Data Processing news, VP Donald Weinstein sold 1,933 shares of the business’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $101.98, for a total transaction of $197,127.34. Following the sale, the vice president now directly owns 25,737 shares in the company, valued at $2,624,659.26. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Carlos A. Rodriguez sold 49,392 shares of the business’s stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $100.01, for a total value of $4,939,693.92. Following the sale, the chief executive officer now owns 159,403 shares in the company, valued at $15,941,894.03. The disclosure for this sale can be found here. Insiders have sold 54,257 shares of company stock worth $5,435,827 in the last ninety days.

Hedge funds have recently bought and sold shares of the company. Goelzer Investment Management Inc. increased its stake in 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 worth $434,000 after buying an additional 12 shares during the last quarter. Guardian Life Insurance Co. of America increased its stake in 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 worth $178,000 after buying an additional 12 shares during the last quarter. Flagship Harbor Advisors LLC increased its stake in 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 worth $282,000 after buying an additional 16 shares during the last quarter. Middleton & Co Inc MA increased its stake in Automatic Data Processing by 0.4% in the first quarter. Middleton & Co Inc MA now owns 5,306 shares of the business services provider’s stock worth $543,000 after buying an additional 20 shares during the last quarter. Finally, Parallel Advisors LLC increased its stake in Automatic Data Processing by 0.6% in the first quarter. Parallel Advisors LLC now owns 4,495 shares of the business services provider’s stock worth $438,000 after buying an additional 26 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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