Automatic Data Processing, Inc. (NASDAQ:ADP) Receives Consensus Rating of “Hold” from Brokerages

Shares of Automatic Data Processing, Inc. (NASDAQ:ADP) have been assigned a consensus rating of “Hold” from the thirteen brokerages that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, ten have given a hold recommendation and two have given a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $310.69.

Several equities analysts have weighed in on the company. TD Securities raised their price objective on Automatic Data Processing from $298.00 to $321.00 and gave the company a “hold” rating in a research note on Wednesday, May 21st. UBS Group lowered their target price on shares of Automatic Data Processing from $323.00 to $315.00 and set a “neutral” rating for the company in a report on Friday, June 13th. Morgan Stanley boosted their price target on shares of Automatic Data Processing from $310.00 to $311.00 and gave the stock an “equal weight” rating in a report on Thursday. Mizuho upped their price objective on shares of Automatic Data Processing from $321.00 to $332.00 and gave the stock an “outperform” rating in a research report on Friday, June 13th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and set a $315.00 target price on shares of Automatic Data Processing in a research report on Thursday, June 5th.

Automatic Data Processing Stock Down 0.5%

Shares of NASDAQ ADP opened at $309.50 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.05 and a debt-to-equity ratio of 0.64. The firm has a market cap of $125.63 billion, a PE ratio of 31.01, a P/E/G ratio of 2.85 and a beta of 0.76. The company’s fifty day simple moving average is $310.70 and its 200 day simple moving average is $305.12. Automatic Data Processing has a 12-month low of $256.47 and a 12-month high of $329.93.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, July 30th. The business services provider reported $2.26 EPS for the quarter, beating analysts’ consensus estimates of $2.23 by $0.03. Automatic Data Processing had a return on equity of 72.84% and a net margin of 19.84%. The firm had revenue of $5.13 billion during the quarter, compared to analysts’ expectations of $5.05 billion. During the same quarter last year, the firm posted $2.09 earnings per share. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Automatic Data Processing will post 9.93 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Automatic Data Processing

A number of institutional investors and hedge funds have recently bought and sold shares of ADP. Activest Wealth Management increased its position in shares of Automatic Data Processing by 2,600.0% during the 1st quarter. Activest Wealth Management now owns 81 shares of the business services provider’s stock valued at $25,000 after purchasing an additional 78 shares during the last quarter. Mid American Wealth Advisory Group Inc. purchased a new stake in Automatic Data Processing in the second quarter worth approximately $26,000. Harbor Asset Planning Inc. purchased a new stake in Automatic Data Processing in the second quarter worth approximately $26,000. Clarity Asset Management Inc. bought a new position in Automatic Data Processing during the first quarter valued at approximately $29,000. Finally, von Borstel & Associates Inc. purchased a new position in shares of Automatic Data Processing during the first quarter worth approximately $30,000. 80.03% of the stock is owned by hedge funds and other institutional investors.

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.