Automatic Data Processing (NASDAQ:ADP) Stock Rating Lowered by StockNews.com

Automatic Data Processing (NASDAQ:ADP) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Tuesday.

ADP has been the subject of a number of other research reports. TD Cowen cut their price objective on shares of Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating for the company in a research note on Thursday, May 2nd. JPMorgan Chase & Co. lowered their price target on shares of Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating for the company in a report on Thursday, May 2nd. Mizuho upped their price target on shares of Automatic Data Processing from $265.00 to $272.00 and gave the company a “buy” rating in a report on Monday, March 11th. Barclays upped their price target on shares of Automatic Data Processing from $280.00 to $282.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Finally, Evercore ISI upped their price target on shares of Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a report on Tuesday, March 26th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $255.42.

Automatic Data Processing Price Performance

ADP stock opened at $236.91 on Tuesday. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.01 and a quick ratio of 1.01. Automatic Data Processing has a one year low of $205.53 and a one year high of $256.84. The stock has a market cap of $96.96 billion, a PE ratio of 26.45, a P/E/G ratio of 2.62 and a beta of 0.78. The firm has a 50 day simple moving average of $245.37 and a two-hundred day simple moving average of $243.88.

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

Institutional Trading of Automatic Data Processing

Institutional investors have recently bought and sold shares of the company. Cornerstone Wealth Group LLC purchased a new stake in shares of Automatic Data Processing during the 1st quarter valued at about $2,924,000. Everence Capital Management Inc. boosted its holdings in shares of Automatic Data Processing by 28.5% during the 4th quarter. Everence Capital Management Inc. now owns 17,150 shares of the business services provider’s stock valued at $3,995,000 after acquiring an additional 3,800 shares during the last quarter. Cyndeo Wealth Partners LLC boosted its holdings in shares of Automatic Data Processing by 36.7% during the 4th quarter. Cyndeo Wealth Partners LLC now owns 19,800 shares of the business services provider’s stock valued at $4,613,000 after acquiring an additional 5,318 shares during the last quarter. BKM Wealth Management LLC purchased a new stake in shares of Automatic Data Processing during the 4th quarter valued at about $1,635,000. Finally, LVW Advisors LLC boosted its holdings in shares of Automatic Data Processing by 23.8% during the 1st quarter. LVW Advisors LLC now owns 3,854 shares of the business services provider’s stock valued at $962,000 after acquiring an additional 740 shares during the last quarter. 80.03% of the stock is owned by hedge funds and other institutional investors.

Automatic Data Processing Company Profile

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.