Investment analysts at Guggenheim began coverage on shares of Automatic Data Processing (NASDAQ:ADP) in a research note issued on Monday, MarketBeat Ratings reports. The firm set a “buy” rating and a $175.00 price target on the business services provider’s stock. Guggenheim’s price target indicates a potential upside of 22.34% from the company’s previous close.
Other research analysts have also issued reports about the stock. Bank of America raised their price objective on shares of Automatic Data Processing from $138.00 to $140.00 and gave the stock a “buy” rating in a report on Friday, May 4th. ValuEngine raised shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a report on Wednesday, May 2nd. Zacks Investment Research raised shares of Automatic Data Processing from a “hold” rating to a “buy” rating and set a $143.00 price objective for the company in a report on Monday, May 21st. Argus raised their price objective on shares of Automatic Data Processing from $130.00 to $145.00 and gave the stock a “buy” rating in a report on Monday, June 4th. Finally, BidaskClub lowered shares of Automatic Data Processing from a “strong-buy” rating to a “buy” rating in a report on Monday, June 18th. Eight investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $141.07.
ADP opened at $143.04 on Monday. The firm has a market cap of $62.45 billion, a P/E ratio of 32.88, a PEG ratio of 2.43 and a beta of 0.88. Automatic Data Processing has a twelve month low of $102.81 and a twelve month high of $143.49. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.58.
Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, August 1st. The business services provider reported $0.92 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.90 by $0.02. The business had revenue of $3.32 billion during the quarter, compared to analyst estimates of $3.29 billion. Automatic Data Processing had a net margin of 12.16% and a return on equity of 50.17%. The business’s revenue was up 8.3% on a year-over-year basis. During the same period last year, the business earned $0.66 EPS. equities analysts forecast that Automatic Data Processing will post 5.18 earnings per share for the current year.
In other news, insider Michael A. Bonarti sold 2,372 shares of the firm’s stock in a transaction dated Monday, July 2nd. The shares were sold at an average price of $132.66, for a total value of $314,669.52. Following the transaction, the insider now directly owns 41,023 shares in the company, valued at approximately $5,442,111.18. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Stuart Sackman sold 2,685 shares of the firm’s stock in a transaction dated Thursday, June 7th. The stock was sold at an average price of $135.01, for a total transaction of $362,501.85. Following the completion of the transaction, the vice president now owns 21,740 shares in the company, valued at $2,935,117.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,723 shares of company stock worth $3,223,283. Insiders own 0.25% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Fundsmith Equity Fund L.P. bought a new stake in Automatic Data Processing in the 2nd quarter valued at about $776,199,000. City Holding Co. bought a new stake in Automatic Data Processing in the 2nd quarter valued at about $4,617,000. Atlantic Trust LLC bought a new stake in Automatic Data Processing in the 2nd quarter valued at about $104,000. GHP Investment Advisors Inc. lifted its position in Automatic Data Processing by 3.1% in the 2nd quarter. GHP Investment Advisors Inc. now owns 27,225 shares of the business services provider’s stock valued at $3,652,000 after purchasing an additional 822 shares during the last quarter. Finally, Andra AP fonden bought a new stake in Automatic Data Processing in the 2nd quarter valued at about $9,658,000. Institutional investors own 77.81% of the company’s stock.
Automatic Data Processing Company Profile
Automatic Data Processing, Inc provides business process outsourcing services worldwide. The company operates through two segments, Employer Services and Professional Employer Organization (PEO) Services. The Employer Services segment offers various human resources (HR) business process outsourcing and technology-enabled human capital management solutions.
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