Automatic Data Processing (NASDAQ:ADP) Rating Lowered to Hold at BidaskClub

BidaskClub downgraded shares of Automatic Data Processing (NASDAQ:ADP) from a buy rating to a hold rating in a research note released on Tuesday morning, BidAskClub reports.

ADP has been the subject of a number of other reports. Evercore ISI upgraded shares of Automatic Data Processing from an in-line rating to an outperform rating and set a $212.00 target price for the company in a report on Wednesday, January 22nd. Citigroup increased their target price on shares of Automatic Data Processing from $170.00 to $185.00 and gave the stock a neutral rating in a report on Tuesday, January 14th. Credit Suisse Group reiterated a buy rating and set a $190.00 target price on shares of Automatic Data Processing in a report on Sunday, February 2nd. Moffett Nathanson lowered shares of Automatic Data Processing from a buy rating to a neutral rating in a report on Tuesday, January 7th. Finally, ValuEngine upgraded shares of Automatic Data Processing from a sell rating to a hold rating in a report on Tuesday, December 3rd. Eleven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Automatic Data Processing currently has an average rating of Hold and a consensus price target of $181.90.

NASDAQ ADP traded up $1.63 during trading on Tuesday, hitting $122.59. 3,941,461 shares of the company’s stock traded hands, compared to its average volume of 2,725,665. The stock has a fifty day moving average of $158.22 and a two-hundred day moving average of $164.86. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.02 and a quick ratio of 1.02. Automatic Data Processing has a 12-month low of $103.11 and a 12-month high of $182.32. The firm has a market cap of $47.09 billion, a P/E ratio of 21.66, a PEG ratio of 1.49 and a beta of 0.89.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, January 29th. The business services provider reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.08. Automatic Data Processing had a net margin of 16.97% and a return on equity of 46.96%. The business had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.69 billion. During the same period in the prior year, the business posted $1.34 earnings per share. The company’s revenue was up 5.1% on a year-over-year basis. As a group, analysts expect that Automatic Data Processing will post 6.09 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Friday, March 13th will be issued a dividend of $0.91 per share. The ex-dividend date of this dividend is Thursday, March 12th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.97%. Automatic Data Processing’s dividend payout ratio is currently 66.79%.

In related news, VP Donald Weinstein sold 2,468 shares of the stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $180.00, for a total value of $444,240.00. Following the completion of the transaction, the vice president now directly owns 26,578 shares of the company’s stock, valued at $4,784,040. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP John Ayala sold 6,484 shares of the stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $176.03, for a total transaction of $1,141,378.52. Following the completion of the transaction, the vice president now directly owns 19,578 shares of the company’s stock, valued at $3,446,315.34. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,528 shares of company stock valued at $2,556,051. 0.31% of the stock is currently owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. HighMark Wealth Management LLC bought a new position in shares of Automatic Data Processing during the fourth quarter valued at approximately $135,000. Sowa Financial Group Inc. bought a new position in shares of Automatic Data Processing during the fourth quarter valued at approximately $60,000. Quadrant Capital Group LLC increased its stake in shares of Automatic Data Processing by 18.8% during the fourth quarter. Quadrant Capital Group LLC now owns 3,446 shares of the business services provider’s stock valued at $561,000 after purchasing an additional 545 shares in the last quarter. Macquarie Group Ltd. increased its stake in shares of Automatic Data Processing by 634.5% during the fourth quarter. Macquarie Group Ltd. now owns 155,457 shares of the business services provider’s stock valued at $26,506,000 after purchasing an additional 134,293 shares in the last quarter. Finally, TFG Advisers LLC bought a new position in shares of Automatic Data Processing during the fourth quarter valued at approximately $5,143,000. 80.30% of the stock is owned by institutional investors.

About Automatic Data Processing

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.

Featured Story: How to invest using market indexes

Analyst Recommendations for Automatic Data Processing (NASDAQ:ADP)

Receive News & Ratings for Automatic Data Processing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Automatic Data Processing and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit