Automatic Data Processing (NASDAQ:ADP) Lowered to “Hold” at StockNews.com

StockNews.com cut shares of Automatic Data Processing (NASDAQ:ADPFree Report) from a buy rating to a hold rating in a report issued on Tuesday.

Several other analysts have also recently weighed in on ADP. Barclays lifted their price target on Automatic Data Processing from $280.00 to $282.00 and gave the stock an overweight rating in a report on Thursday, May 2nd. TD Cowen decreased their price target on shares of Automatic Data Processing from $253.00 to $251.00 and set a hold rating on the stock in a research note on Thursday, May 2nd. JPMorgan Chase & Co. dropped their price objective on shares of Automatic Data Processing from $254.00 to $250.00 and set an underweight rating for the company in a research note on Thursday, May 2nd. Evercore ISI increased their target price on shares of Automatic Data Processing from $227.00 to $235.00 and gave the stock an underperform rating in a research report on Tuesday, March 26th. Finally, Mizuho lifted their price target on shares of Automatic Data Processing from $265.00 to $272.00 and gave the company a buy rating in a research report on Monday, March 11th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Automatic Data Processing has an average rating of Hold and an average price target of $255.42.

Get Our Latest Analysis on Automatic Data Processing

Automatic Data Processing Stock Performance

ADP opened at $236.63 on Tuesday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.65. Automatic Data Processing has a 12-month low of $205.53 and a 12-month high of $256.84. The business has a 50 day moving average of $245.58 and a 200-day moving average of $243.86. The stock has a market cap of $96.85 billion, a price-to-earnings ratio of 26.41, a PEG ratio of 2.62 and a beta of 0.78.

Automatic Data Processing (NASDAQ:ADPGet Free Report) last announced its quarterly earnings results on Wednesday, May 1st. The business services provider reported $2.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.79 by $0.09. Automatic Data Processing had a return on equity of 93.09% and a net margin of 19.56%. The business had revenue of $5.30 billion during the quarter, compared to the consensus estimate of $5.22 billion. During the same quarter last year, the firm posted $2.52 EPS. The company’s quarterly revenue was up 7.6% on a year-over-year basis. On average, equities research analysts expect that Automatic Data Processing will post 9.16 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Keener Financial Planning LLC lifted its stake in Automatic Data Processing by 230.3% in the first quarter. Keener Financial Planning LLC now owns 109 shares of the business services provider’s stock valued at $28,000 after buying an additional 76 shares during the period. Crewe Advisors LLC bought a new stake in shares of Automatic Data Processing in the 1st quarter valued at $33,000. Fortitude Family Office LLC bought a new stake in shares of Automatic Data Processing in the 4th quarter valued at $35,000. Pathway Financial Advisers LLC acquired a new position in shares of Automatic Data Processing during the 1st quarter valued at $36,000. Finally, Pineridge Advisors LLC bought a new position in Automatic Data Processing during the fourth quarter worth $39,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

About Automatic Data Processing

(Get Free Report)

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.

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