Automatic Data Processing Inc. (NASDAQ:ADP) was downgraded by investment analysts at Vetr from a “strong-buy” rating to a “buy” rating in a research report issued on Monday. They presently have a $97.81 price target on the stock.

A number of other equities analysts have also recently commented on ADP. Sanford C. Bernstein raised shares of Automatic Data Processing from a “mkt perform” rating to an “outperform” rating in a research report on Monday, July 11th. Robert W. Baird cut shares of Automatic Data Processing from an “outperform” rating to a “neutral” rating and set a $94.00 price objective for the company. in a research report on Friday, July 29th. Citigroup Inc. lifted their price objective on shares of Automatic Data Processing from $89.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, July 29th. Jefferies Group lifted their price objective on shares of Automatic Data Processing from $75.00 to $81.00 and gave the stock an “underperform” rating in a research report on Monday, August 1st. Finally, Wedbush initiated coverage on shares of Automatic Data Processing in a research report on Friday, September 9th. They set a “neutral” rating and a $100.00 price objective for the company. Four research analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of €91.08 ($100.09).

Analyst Recommendations for Automatic Data Processing (NASDAQ:ADP)

Shares of Automatic Data Processing (NASDAQ:ADP) opened at 87.38 on Monday. The company has a market cap of $39.86 billion, a price-to-earnings ratio of 26.90 and a beta of 0.82. The stock has a 50 day moving average of $88.01 and a 200 day moving average of $89.26. Automatic Data Processing has a 12-month low of $76.65 and a 12-month high of $96.00.

A number of hedge funds and other institutional investors have recently bought and sold shares of ADP. Wellington Management Group LLP increased its position in Automatic Data Processing by 4.5% in the first quarter. Wellington Management Group LLP now owns 15,124,721 shares of the company’s stock worth $1,356,838,000 after buying an additional 648,854 shares during the period. Geode Capital Management LLC increased its position in Automatic Data Processing by 5.3% in the first quarter. Geode Capital Management LLC now owns 4,094,098 shares of the company’s stock worth $366,606,000 after buying an additional 206,762 shares during the period. State Farm Mutual Automobile Insurance Co. increased its position in Automatic Data Processing by 5.2% in the first quarter. State Farm Mutual Automobile Insurance Co. now owns 3,873,905 shares of the company’s stock worth $347,528,000 after buying an additional 191,755 shares during the period. 1832 Asset Management L.P. increased its position in Automatic Data Processing by 10.8% in the first quarter. 1832 Asset Management L.P. now owns 2,875,851 shares of the company’s stock worth $425,669,000 after buying an additional 279,466 shares during the period. Finally, Legal & General Group Plc increased its position in Automatic Data Processing by 1.5% in the first quarter. Legal & General Group Plc now owns 2,290,173 shares of the company’s stock worth $205,438,000 after buying an additional 33,983 shares during the period. 77.22% of the stock is owned by institutional investors and hedge funds.

About Automatic Data Processing

Automatic Data Processing, Inc (ADP) is a provider of human capital management (HCM) solutions and business process outsourcing. The Company operates through two segments: Employer Services and Professional Employer Organization (PEO) Services. The Employer Services segment offers a range of business outsourcing and technology-enabled HCM solutions.

5 Day Chart for NASDAQ:ADP

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