Automatic Data Processing (NASDAQ:ADP) Cut to Hold at StockNews.com

StockNews.com cut shares of Automatic Data Processing (NASDAQ:ADP) from a buy rating to a hold rating in a research report released on Tuesday morning.

Other equities analysts have also recently issued reports about the company. Mizuho raised their price objective on Automatic Data Processing from $265.00 to $272.00 and gave the company a buy rating in a research note on Monday, March 11th. JPMorgan Chase & Co. lowered their target price 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. TD Cowen cut their price target on shares of Automatic Data Processing from $253.00 to $251.00 and set a hold rating on the stock in a report on Thursday, May 2nd. Evercore ISI increased their price objective on shares of Automatic Data Processing from $227.00 to $235.00 and gave the company an underperform rating in a research note on Tuesday, March 26th. Finally, Barclays lifted their target price on shares of Automatic Data Processing from $280.00 to $282.00 and gave the stock an overweight rating in a research report on Thursday, May 2nd. Two analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of Hold and a consensus price target of $255.42.

Automatic Data Processing Trading Up 0.1 %

NASDAQ:ADP 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 company has a market cap of $96.96 billion, a PE ratio of 26.44, a PEG ratio of 2.39 and a beta of 0.78. The firm has a 50-day moving average of $245.18 and a 200-day moving average of $243.83.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, May 1st. The business services provider reported $2.88 EPS for the quarter, topping analysts’ consensus estimates of $2.79 by $0.09. The firm had revenue of $5.30 billion during the quarter, compared to analyst estimates of $5.22 billion. Automatic Data Processing had a return on equity of 93.09% and a net margin of 19.56%. The company’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period in the previous year, the company posted $2.52 EPS. As a group, equities research analysts expect that Automatic Data Processing will post 9.16 EPS for the current fiscal year.

Hedge Funds Weigh In On Automatic Data Processing

Several institutional investors and hedge funds have recently bought and sold shares of ADP. Keener Financial Planning LLC lifted its stake in shares of Automatic Data Processing by 230.3% during the 1st quarter. Keener Financial Planning LLC now owns 109 shares of the business services provider’s stock valued at $28,000 after buying an additional 76 shares in the last quarter. Crewe Advisors LLC bought a new stake in Automatic Data Processing during the 1st quarter valued at $33,000. Fortitude Family Office LLC purchased a new stake in shares of Automatic Data Processing during the fourth quarter worth $35,000. Pathway Financial Advisers LLC bought a new position in shares of Automatic Data Processing in the first quarter worth $36,000. Finally, Pineridge Advisors LLC purchased a new position in shares of Automatic Data Processing in the fourth quarter valued at $39,000. 80.03% of the stock is owned by 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.