Automatic Data Processing (ADP) Earns Overweight Rating from Analysts at Barclays
Investment analysts at Barclays started coverage on shares of Automatic Data Processing (NASDAQ:ADP) in a note issued to investors on Wednesday, The Fly reports. The firm set an “overweight” rating on the business services provider’s stock.
Several other equities analysts have also issued reports on ADP. Zacks Investment Research raised Automatic Data Processing from a “sell” rating to a “hold” rating in a research note on Friday, October 26th. BMO Capital Markets cut their price target on Automatic Data Processing from $155.00 to $150.00 and set a “market perform” rating on the stock in a research note on Thursday, November 1st. BidaskClub lowered Automatic Data Processing from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 1st. Citigroup upped their price target on Automatic Data Processing from $137.00 to $147.00 and gave the company a “neutral” rating in a research note on Thursday, November 1st. Finally, Jefferies Financial Group upped their price target on Automatic Data Processing to $167.00 and gave the company a “hold” rating in a research note on Thursday, November 1st. Eight research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $148.69.
Shares of ADP traded down $2.00 during trading hours on Wednesday, hitting $142.72. 2,239,600 shares of the stock traded hands, compared to its average volume of 2,160,297. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.43. Automatic Data Processing has a 1-year low of $107.61 and a 1-year high of $153.51. The firm has a market capitalization of $63.11 billion, a PE ratio of 32.81, a price-to-earnings-growth ratio of 2.19 and a beta of 0.91.
In other Automatic Data Processing news, CEO Carlos A. Rodriguez sold 101,620 shares of the stock in a transaction dated Thursday, November 8th. The stock was sold at an average price of $147.46, for a total value of $14,984,885.20. Following the transaction, the chief executive officer now owns 199,405 shares of the company’s stock, valued at $29,404,261.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Michael C. Eberhard sold 9,100 shares of the stock in a transaction dated Friday, September 21st. The shares were sold at an average price of $150.00, for a total value of $1,365,000.00. Following the completion of the transaction, the vice president now directly owns 48,468 shares in the company, valued at approximately $7,270,200. The disclosure for this sale can be found here. Insiders sold 117,539 shares of company stock worth $17,336,818 in the last three months. Insiders own 0.33% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. Atlantic Trust LLC acquired a new position in Automatic Data Processing during the second quarter valued at approximately $104,000. Integrated Investment Consultants LLC acquired a new position in Automatic Data Processing during the second quarter valued at approximately $111,000. Willingdon Wealth Management boosted its position in Automatic Data Processing by 328.5% during the third quarter. Willingdon Wealth Management now owns 857 shares of the business services provider’s stock valued at $129,000 after purchasing an additional 657 shares during the last quarter. Jolley Asset Management LLC acquired a new position in Automatic Data Processing during the second quarter valued at approximately $117,000. Finally, Fort L.P. acquired a new position in Automatic Data Processing during the second quarter valued at approximately $119,000. Institutional investors own 78.14% of the company’s stock.
Automatic Data Processing Company Profile
Automatic Data Processing, Inc provides business process outsourcing services worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO) Services. The Employer Services segment offers various human resources (HR) outsourcing and technology-based human capital management solutions.
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