Automatic Data Processing (ADP) Rating Reiterated by Royal Bank Of Canada

Automatic Data Processing (NYSE:ADP)‘s stock had its “hold” rating reissued by analysts at Royal Bank Of Canada in a research note issued on Friday. They currently have a $95.00 price objective on the business services provider’s stock. Royal Bank Of Canada’s price target indicates a potential downside of 11.03% from the stock’s previous close.

Other research analysts also recently issued reports about the stock. Argus dropped their target price on shares of Automatic Data Processing from $118.00 to $101.50 and set a “buy” rating on the stock in a research report on Wednesday, May 31st. BidaskClub raised shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. Barclays PLC downgraded shares of Automatic Data Processing from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $110.00 to $105.00 in a research report on Tuesday, July 18th. Stifel Nicolaus reissued a “hold” rating and issued a $108.00 target price (up from $103.00) on shares of Automatic Data Processing in a research report on Sunday, July 30th. Finally, Deutsche Bank AG reissued a “hold” rating and issued a $102.00 target price on shares of Automatic Data Processing in a research report on Monday, August 21st. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $107.81.

Shares of Automatic Data Processing (NYSE ADP) traded down 0.01% during mid-day trading on Friday, reaching $106.78. 3,116,724 shares of the company were exchanged. The company’s 50 day moving average price is $108.51 and its 200 day moving average price is $103.81. Automatic Data Processing has a 12 month low of $85.48 and a 12 month high of $121.77. The firm has a market capitalization of $47.45 billion and a PE ratio of 27.74.

Automatic Data Processing (NYSE:ADP) last released its earnings results on Thursday, July 27th. The business services provider reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.02). The firm had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $3.04 billion. Automatic Data Processing had a return on equity of 26.39% and a net margin of 8.67%. The business’s revenue was up 5.7% on a year-over-year basis. During the same period last year, the business earned $0.69 earnings per share. Equities analysts anticipate that Automatic Data Processing will post $3.81 earnings per share for the current year.

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In other Automatic Data Processing news, VP Brock Albinson sold 3,663 shares of Automatic Data Processing stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $106.54, for a total value of $390,256.02. Following the completion of the sale, the vice president now directly owns 6,287 shares in the company, valued at $669,816.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Maria Black sold 631 shares of Automatic Data Processing stock in a transaction that occurred on Saturday, September 2nd. The shares were sold at an average price of $106.64, for a total transaction of $67,289.84. Following the completion of the sale, the vice president now owns 10,550 shares of the company’s stock, valued at $1,125,052. The disclosure for this sale can be found here. Insiders sold 45,522 shares of company stock valued at $4,953,609 over the last quarter.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Goelzer Investment Management Inc. lifted 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 valued at $434,000 after acquiring an additional 12 shares during the last quarter. Guardian Life Insurance Co. of America lifted 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 valued at $178,000 after acquiring an additional 12 shares during the last quarter. Washington Trust Bank lifted its stake in Automatic Data Processing by 0.4% in the second quarter. Washington Trust Bank now owns 3,392 shares of the business services provider’s stock valued at $348,000 after acquiring an additional 12 shares during the last quarter. Flagship Harbor Advisors LLC lifted 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 valued at $282,000 after acquiring an additional 16 shares during the last quarter. Finally, Personal Capital Advisors Corp lifted its stake in Automatic Data Processing by 0.7% in the second quarter. Personal Capital Advisors Corp now owns 2,371 shares of the business services provider’s stock valued at $243,000 after acquiring an additional 16 shares during the last quarter.

About Automatic Data Processing

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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