Deutsche Bank AG Reaffirms “Hold” Rating for Automatic Data Processing (ADP)
Automatic Data Processing (NYSE:ADP)‘s stock had its “hold” rating reaffirmed by investment analysts at Deutsche Bank AG in a report issued on Monday. They currently have a $102.00 price objective on the business services provider’s stock. Deutsche Bank AG’s price objective points to a potential downside of 2.31% from the stock’s previous close.
Other equities research analysts also recently issued reports about the stock. Evercore ISI reiterated an “in-line” rating and set a $115.00 price objective on shares of Automatic Data Processing in a research note on Sunday. Goldman Sachs Group, Inc. (The) downgraded shares of Automatic Data Processing from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $115.00 to $108.00 in a research note on Tuesday, June 20th. Barclays PLC reiterated a “buy” rating on shares of Automatic Data Processing in a research note on Thursday, April 27th. Stifel Nicolaus reiterated a “hold” rating and set a $108.00 price objective (up from $103.00) on shares of Automatic Data Processing in a research note on Sunday, July 30th. Finally, Royal Bank Of Canada lifted their price objective on shares of Automatic Data Processing from $94.00 to $95.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 1st. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the stock. Automatic Data Processing presently has an average rating of “Hold” and a consensus target price of $107.25.
Shares of Automatic Data Processing (NYSE ADP) opened at 104.41 on Monday. The firm’s 50-day moving average price is $107.19 and its 200 day moving average price is $102.82. The company has a market capitalization of $46.40 billion and a PE ratio of 27.12. Automatic Data Processing has a 52-week low of $85.48 and a 52-week high of $121.77.
Automatic Data Processing (NYSE:ADP) last posted its quarterly earnings data on Thursday, July 27th. The business services provider reported $0.65 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.67 by $0.02. Automatic Data Processing had a return on equity of 26.39% and a net margin of 8.67%. The company had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.04 billion. During the same quarter in the previous year, the firm posted $0.69 earnings per share. The company’s quarterly revenue was up 5.7% on a year-over-year basis. On average, equities analysts forecast that Automatic Data Processing will post $3.81 earnings per share for the current year.
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In related news, CEO Carlos A. Rodriguez sold 36,363 shares of the business’s stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $110.00, for a total transaction of $3,999,930.00. Following the completion of the transaction, the chief executive officer now directly owns 146,494 shares in the company, valued at $16,114,340. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael A. Bonarti sold 2,932 shares of the business’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $101.98, for a total transaction of $299,005.36. Following the transaction, the insider now owns 46,256 shares of the company’s stock, valued at $4,717,186.88. The disclosure for this sale can be found here. Insiders have sold 90,620 shares of company stock valued at $9,435,757 over the last 90 days.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. increased its position in Automatic Data Processing by 1,971.2% in the first quarter. BlackRock Inc. now owns 29,631,769 shares of the business services provider’s stock worth $3,033,995,000 after buying an additional 28,201,085 shares in the last quarter. Janus Henderson Group PLC boosted its position in Automatic Data Processing by 5,962.5% in the second quarter. Janus Henderson Group PLC now owns 4,013,865 shares of the business services provider’s stock worth $411,260,000 after buying an additional 3,947,657 shares during the last quarter. Vanguard Group Inc. boosted its position in Automatic Data Processing by 4.4% in the first quarter. Vanguard Group Inc. now owns 34,188,021 shares of the business services provider’s stock worth $3,500,512,000 after buying an additional 1,430,863 shares during the last quarter. Fundsmith LLP boosted its position in Automatic Data Processing by 29.0% in the second quarter. Fundsmith LLP now owns 5,176,340 shares of the business services provider’s stock worth $530,368,000 after buying an additional 1,164,972 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its position in Automatic Data Processing by 671.9% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,245,110 shares of the business services provider’s stock worth $127,574,000 after buying an additional 1,083,799 shares during the last quarter.
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.
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