Automatic Data Processing (NASDAQ:ADP) Downgraded by BidaskClub to “Hold”

BidaskClub lowered shares of Automatic Data Processing (NASDAQ:ADP) from a buy rating to a hold rating in a research report report published on Tuesday, BidAskClub reports.

A number of other brokerages have also commented on ADP. Credit Suisse Group reaffirmed a buy rating and issued a $190.00 target price on shares of Automatic Data Processing in a research report on Sunday, February 2nd. Morgan Stanley decreased their target price on Automatic Data Processing from $180.00 to $145.00 and set an equal weight rating for the company in a research report on Wednesday, March 18th. ValuEngine raised Automatic Data Processing from a sell rating to a hold rating in a research report on Tuesday, December 3rd. Evercore ISI raised Automatic Data Processing from an in-line rating to an outperform rating and set a $212.00 target price for the company in a research report on Wednesday, January 22nd. Finally, Moffett Nathanson lowered Automatic Data Processing from a buy rating to a neutral rating in a research report on Tuesday, January 7th. Eleven research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company has an average rating of Hold and an average price target of $181.90.

NASDAQ:ADP traded up $1.63 during trading hours on Tuesday, hitting $122.59. 3,941,461 shares of the company were exchanged, compared to its average volume of 2,725,665. The stock has a market capitalization of $47.09 billion, a price-to-earnings ratio of 21.66, a price-to-earnings-growth ratio of 1.49 and a beta of 0.89. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.25. Automatic Data Processing has a one year low of $103.11 and a one year high of $182.32. The company has a fifty day simple moving average of $158.22 and a 200 day simple moving average of $164.86.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, January 29th. The business services provider reported $1.52 EPS for the quarter, beating analysts’ consensus estimates of $1.44 by $0.08. Automatic Data Processing had a return on equity of 46.96% and a net margin of 16.97%. 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 previous year, the company posted $1.34 EPS. The firm’s revenue was up 5.1% compared to the same quarter last year. Equities research analysts predict that Automatic Data Processing will post 6.09 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Friday, March 13th will be paid 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 yield of 2.97%. Automatic Data Processing’s dividend payout ratio (DPR) is currently 66.79%.

In other news, VP Deborah L. Dyson sold 3,250 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $176.67, for a total value of $574,177.50. Following the transaction, the vice president now owns 18,304 shares in the company, valued at approximately $3,233,767.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Donald Weinstein sold 2,468 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The stock was 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 owns 26,578 shares in the company, valued at approximately $4,784,040. The disclosure for this sale can be found here. Insiders have sold a total of 14,528 shares of company stock valued at $2,556,051 in the last quarter. Company insiders own 0.31% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. HighMark Wealth Management LLC bought a new stake in shares of Automatic Data Processing in the 4th quarter worth approximately $135,000. Sowa Financial Group Inc. bought a new stake in shares of Automatic Data Processing in the 4th quarter worth approximately $60,000. Quadrant Capital Group LLC raised its holdings in shares of Automatic Data Processing by 18.8% in the 4th quarter. Quadrant Capital Group LLC now owns 3,446 shares of the business services provider’s stock worth $561,000 after purchasing an additional 545 shares during the period. Macquarie Group Ltd. raised its holdings in Automatic Data Processing by 634.5% during the 4th quarter. Macquarie Group Ltd. now owns 155,457 shares of the business services provider’s stock valued at $26,506,000 after acquiring an additional 134,293 shares during the period. Finally, TFG Advisers LLC bought a new stake in Automatic Data Processing during the 4th quarter valued at $5,143,000. Hedge funds and other institutional investors own 80.30% of the company’s stock.

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.

Read More: Why is the ex-dividend date different from the record date?

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.