Vetr downgraded shares of Automatic Data Processing Inc. (NASDAQ:ADP) from a strong-buy rating to a buy rating in a research report report published on Wednesday. They currently have $96.54 target price on the stock.
Several other analysts have also weighed in on the company. Sanford C. Bernstein raised Automatic Data Processing from a mkt perform rating to an outperform rating in a report on Monday, July 11th. Wedbush started coverage on Automatic Data Processing in a report on Friday, September 9th. They set a neutral rating and a $100.00 price objective on the stock. Robert W. Baird lowered Automatic Data Processing from an outperform rating to a neutral rating and set a $94.00 price objective on the stock. in a report on Friday, July 29th. Jefferies Group lifted their price objective on Automatic Data Processing from $75.00 to $81.00 and gave the stock an underperform rating in a report on Monday, August 1st. Finally, Citigroup Inc. boosted their price target on Automatic Data Processing from $89.00 to $90.00 and gave the company a neutral rating in a research note on Friday, July 29th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. Automatic Data Processing currently has an average rating of Hold and a consensus price target of €90.95 ($101.06).
Automatic Data Processing (NASDAQ:ADP) opened at 88.47 on Wednesday. Automatic Data Processing has a 12-month low of $76.65 and a 12-month high of $96.00. The company’s 50-day moving average price is $89.16 and its 200-day moving average price is $89.33. The firm has a market capitalization of $40.36 billion, a price-to-earnings ratio of 27.24 and a beta of 0.81.
Several large investors have recently added to or reduced their stakes in the company. Investec Asset Management LTD purchased a new stake in Automatic Data Processing during the first quarter worth $80,120,000. TIAA CREF Investment Management LLC increased its stake in Automatic Data Processing by 45.2% in the first quarter. TIAA CREF Investment Management LLC now owns 2,613,512 shares of the company’s stock worth $234,458,000 after buying an additional 813,121 shares during the last quarter. Wellington Management Group LLP increased its stake 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 last quarter. BlackRock Fund Advisors increased its stake in Automatic Data Processing by 7.8% in the first quarter. BlackRock Fund Advisors now owns 7,661,029 shares of the company’s stock worth $687,271,000 after buying an additional 555,545 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. increased its stake in Automatic Data Processing by 130.0% in the first quarter. Adage Capital Partners GP L.L.C. now owns 832,300 shares of the company’s stock worth $74,666,000 after buying an additional 470,500 shares during the last quarter. Institutional investors own 76.89% of the company’s stock.
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.
To view Vetr’s full report, visit Vetr’s official website.
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