Automatic Data Processing (NASDAQ:ADP) Now Covered by Analysts at UBS Group

UBS Group initiated coverage on shares of Automatic Data Processing (NASDAQ:ADP) in a research report released on Tuesday morning, Marketbeat.com reports. The firm issued a neutral rating and a $235.00 target price on the business services provider’s stock.

A number of other research firms have also issued reports on ADP. JPMorgan Chase & Co. increased their target price on shares of Automatic Data Processing from $260.00 to $280.00 and gave the stock an underweight rating in a report on Tuesday, August 22nd. Royal Bank of Canada started coverage on shares of Automatic Data Processing in a report on Tuesday, September 5th. They issued a sector perform rating and a $267.00 price objective on the stock. Morgan Stanley reduced their price objective on shares of Automatic Data Processing from $260.00 to $250.00 and set an equal weight rating on the stock in a report on Thursday, October 26th. StockNews.com lowered shares of Automatic Data Processing from a buy rating to a hold rating in a report on Wednesday, October 25th. Finally, Barclays reduced their price objective on shares of Automatic Data Processing from $285.00 to $280.00 and set an overweight rating on the stock in a report on Thursday, October 26th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of Hold and an average price target of $248.42.

Automatic Data Processing Stock Performance

Shares of ADP stock opened at $222.25 on Tuesday. The firm’s 50 day moving average price is $240.64 and its 200-day moving average price is $232.16. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.98 and a current ratio of 0.98. Automatic Data Processing has a one year low of $201.46 and a one year high of $274.92. The firm has a market cap of $91.56 billion, a P/E ratio of 26.43, a P/E/G ratio of 2.05 and a beta of 0.83.

Insiders Place Their Bets

In other Automatic Data Processing news, CEO Maria Black sold 17,326 shares of the firm’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $255.03, for a total transaction of $4,418,649.78. Following the transaction, the chief executive officer now directly owns 70,782 shares of the company’s stock, valued at approximately $18,051,533.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Automatic Data Processing news, VP John Ayala sold 27,753 shares of the firm’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $254.79, for a total transaction of $7,071,186.87. Following the transaction, the vice president now directly owns 45,893 shares of the company’s stock, valued at approximately $11,693,077.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Maria Black sold 17,326 shares of the business’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $255.03, for a total transaction of $4,418,649.78. Following the transaction, the chief executive officer now owns 70,782 shares in the company, valued at $18,051,533.46. The disclosure for this sale can be found here. In the last three months, insiders have sold 165,420 shares of company stock valued at $41,491,937. Insiders own 0.26% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. OFI Invest Asset Management acquired a new position in shares of Automatic Data Processing during the third quarter worth about $25,000. Ten Capital Wealth Advisors LLC increased its stake in shares of Automatic Data Processing by 110.7% during the first quarter. Ten Capital Wealth Advisors LLC now owns 118 shares of the business services provider’s stock worth $26,000 after acquiring an additional 62 shares during the period. China Universal Asset Management Co. Ltd. acquired a new position in shares of Automatic Data Processing during the first quarter worth about $28,000. Coppell Advisory Solutions LLC acquired a new position in shares of Automatic Data Processing during the second quarter worth about $30,000. Finally, Coppell Advisory Solutions Corp. acquired a new position in shares of Automatic Data Processing during the fourth quarter worth about $33,000. 79.37% of the stock is currently owned by institutional investors and hedge funds.

About Automatic Data Processing

Automatic Data Processing, Inc provides cloud-based human capital management solutions worldwide. It operates in two segments, Employer Services and Professional Employer Organization (PEO). The Employer Services segment offers strategic, cloud-based platforms, and human resources (HR) outsourcing solutions.