Automatic Data Processing (NASDAQ:ADP) Sets New 12-Month High at $172.00

Shares of Automatic Data Processing (NASDAQ:ADP) hit a new 52-week high during trading on Wednesday . The stock traded as high as $172.00 and last traded at $169.44, with a volume of 20205 shares traded. The stock had previously closed at $165.00.

ADP has been the subject of several recent analyst reports. Sanford C. Bernstein downgraded shares of Encana from an “outperform” rating to a “market perform” rating in a research report on Tuesday, April 30th. Zacks Investment Research downgraded shares of Gold Resource from a “hold” rating to a “sell” rating in a research report on Friday, June 21st. BidaskClub downgraded shares of Walgreens Boots Alliance from a “sell” rating to a “strong sell” rating in a research report on Monday, June 24th. Barclays raised their price objective on shares of WEX from $222.00 to $238.00 and gave the stock an “overweight” rating in a research report on Monday, May 6th. Finally, Citigroup downgraded shares of BCE from a “buy” rating to a “neutral” rating in a research report on Thursday, May 2nd. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $167.00.

The firm has a fifty day simple moving average of $166.00. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.38. The stock has a market cap of $73.67 billion, a P/E ratio of 38.74, a P/E/G ratio of 2.16 and a beta of 0.90.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, May 1st. The business services provider reported $1.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.69 by $0.08. Automatic Data Processing had a return on equity of 50.53% and a net margin of 13.76%. The company had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $3.91 billion. During the same period last year, the business earned $1.57 EPS. Automatic Data Processing’s quarterly revenue was up 4.2% compared to the same quarter last year. On average, research analysts predict that Automatic Data Processing will post 5.44 EPS for the current fiscal year.

In related news, VP Dermot J. O’brien sold 1,771 shares of the stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $162.04, for a total value of $286,972.84. Following the transaction, the vice president now directly owns 14,896 shares in the company, valued at approximately $2,413,747.84. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.33% of the stock is owned by company insiders.

Large investors have recently modified their holdings of the business. Horan Capital Advisors LLC. bought a new position in Automatic Data Processing during the 1st quarter valued at $31,000. Paragon Capital Management LLC bought a new position in Automatic Data Processing during the 1st quarter valued at $32,000. C J Advisory Inc bought a new position in Automatic Data Processing during the 1st quarter valued at $32,000. Cypress Capital Management LLC WY lifted its stake in Automatic Data Processing by 257.1% during the 1st quarter. Cypress Capital Management LLC WY now owns 200 shares of the business services provider’s stock valued at $32,000 after acquiring an additional 144 shares in the last quarter. Finally, Permanens Capital L.P. bought a new position in Automatic Data Processing during the 1st quarter valued at $32,000. Institutional investors and hedge funds own 79.80% of the company’s stock.

About Automatic Data Processing (NASDAQ:ADP)

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.

Recommended Story: Short Selling Stocks and Day Traders

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.