Automatic Data Processing (ADP) Rating Increased to Buy at Bank of America

Automatic Data Processing (NASDAQ:ADP) was upgraded by investment analysts at Bank of America from a “neutral” rating to a “buy” rating in a report issued on Tuesday.

A number of other research analysts have also recently commented on ADP. BMO Capital Markets restated a “market perform” rating and set a $105.00 price target on shares of Automatic Data Processing in a research note on Wednesday, August 9th. Wells Fargo & Company reiterated a “market perform” rating on shares of Automatic Data Processing in a research note on Wednesday, August 9th. BidaskClub raised shares of Automatic Data Processing from a “sell” rating to a “hold” rating in a report on Saturday, December 2nd. Barclays reissued an “equal weight” rating and issued a $105.00 price target on shares of Automatic Data Processing in a report on Tuesday, August 15th. Finally, Zacks Investment Research raised shares of Automatic Data Processing from a “sell” rating to a “hold” rating in a report on Monday, October 2nd. Twelve equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $112.37.

Automatic Data Processing (NASDAQ:ADP) opened at $115.92 on Tuesday. The company has a market cap of $51,302.89, a price-to-earnings ratio of 30.93, a price-to-earnings-growth ratio of 2.96 and a beta of 0.85. Automatic Data Processing has a 1 year low of $94.11 and a 1 year high of $121.77. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.51.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Thursday, November 2nd. The business services provider reported $0.91 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.06. The company had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.06 billion. Automatic Data Processing had a return on equity of 42.34% and a net margin of 14.08%. The firm’s revenue was up 5.6% compared to the same quarter last year. During the same period last year, the business posted $0.86 earnings per share. equities analysts anticipate that Automatic Data Processing will post 3.91 EPS for the current fiscal year.

A number of hedge funds have recently made changes to their positions in the business. Washington Trust Bank grew its stake in Automatic Data Processing by 0.4% during 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 in the last quarter. Guardian Life Insurance Co. of America grew its stake in Automatic Data Processing by 0.7% during 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 in the last quarter. Personal Capital Advisors Corp grew its stake in Automatic Data Processing by 0.7% during 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 in the last quarter. Flagship Harbor Advisors LLC grew its stake in Automatic Data Processing by 0.6% during 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 in the last quarter. Finally, Proficio Capital Partners LLC grew its stake in Automatic Data Processing by 1.8% during the second quarter. Proficio Capital Partners LLC now owns 964 shares of the business services provider’s stock valued at $111,000 after acquiring an additional 17 shares in the last quarter. 78.64% of the stock is currently owned by institutional investors and hedge funds.

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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 (NASDAQ:ADP)

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