Automatic Data Processing (NYSE:ADP) was downgraded by equities research analysts at Susquehanna from a “positive” rating to a “neutral” rating in a research note issued to investors on Friday, TheFlyOnTheWall.com reports. They currently have a $78.00 price objective on the stock. Susquehanna’s price objective indicates a potential upside of 8.56% from the stock’s previous close. The analysts noted that the move was a valuation call.
Automatic Data Processing (NYSE:ADP) traded down 1.24% on Friday, hitting $70.96. Automatic Data Processing has a 52-week low of $54.02 and a 52-week high of $73.83. The stock’s 50-day moving average is currently $70.80. The company has a market cap of $34.431 billion and a price-to-earnings ratio of 24.44.
Automatic Data Processing (NYSE:ADP) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by $0.02. The company had revenue of $2.81 billion for the quarter, compared to the consensus estimate of $2.81 billion. During the same quarter in the previous year, the company posted $0.53 earnings per share. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. On average, analysts predict that Automatic Data Processing will post $2.91 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Sanford C. Bernstein set a $74.50 price target on shares of Automatic Data Processing in a research note to investors on Tuesday, June 25th. Separately, analysts at RBC Capital reiterated an “outperform” rating on shares of Automatic Data Processing in a research note to investors on Friday, June 21st. They now have a $73.00 price target on the stock. Finally, analysts at Raymond James initiated coverage on shares of Automatic Data Processing in a research note to investors on Friday, June 14th. They set an “outperform” rating on the stock.
One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $68.37.
Automatic Data Processing, Inc (NYSE:ADP) is a provider of business outsourcing solutions.