Automatic Data Processing (NASDAQ:ADP) Stock Rating Lowered by Evercore ISI

Automatic Data Processing (NASDAQ:ADP) was downgraded by Evercore ISI from an “outperform” rating to an “underperform” rating in a research report issued to clients and investors on Tuesday, Analyst Ratings Network reports. They presently have a $143.00 price target on the business services provider’s stock, down from their previous price target of $197.00. Evercore ISI’s price target would indicate a potential downside of 13.15% from the company’s current price.

Several other research firms also recently weighed in on ADP. Wells Fargo & Company assumed coverage on Automatic Data Processing in a research report on Friday, December 18th. They set an “overweight” rating and a $200.00 target price on the stock. Barclays increased their price objective on shares of Automatic Data Processing from $145.00 to $180.00 and gave the stock an “overweight” rating in a report on Monday, November 2nd. BMO Capital Markets boosted their target price on shares of Automatic Data Processing from $149.00 to $165.00 and gave the company a “market perform” rating in a report on Thursday, October 29th. BidaskClub downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Tuesday, January 5th. Finally, Morgan Stanley lifted their price target on shares of Automatic Data Processing from $147.00 to $159.00 and gave the company an “equal weight” rating in a report on Thursday, October 29th. Four research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $158.00.

NASDAQ:ADP opened at $164.66 on Tuesday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.08 and a quick ratio of 1.08. The firm has a market cap of $70.61 billion, a PE ratio of 28.59, a P/E/G ratio of 2.53 and a beta of 0.70. The firm has a 50 day simple moving average of $174.09 and a 200-day simple moving average of $153.43. Automatic Data Processing has a 1-year low of $103.11 and a 1-year high of $182.32.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, October 28th. The business services provider reported $1.41 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.97 by $0.44. Automatic Data Processing had a net margin of 17.07% and a return on equity of 46.13%. The firm had revenue of $3.47 billion during the quarter, compared to analysts’ expectations of $3.29 billion. During the same period in the previous year, the company earned $1.34 EPS. As a group, sell-side analysts expect that Automatic Data Processing will post 5.64 earnings per share for the current fiscal year.

In other Automatic Data Processing news, VP Joseph Desilva sold 450 shares of the firm’s stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $160.00, for a total transaction of $72,000.00. Following the completion of the transaction, the vice president now directly owns 2,855 shares of the company’s stock, valued at approximately $456,800. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Brock Albinson sold 2,151 shares of the business’s stock in a transaction dated Monday, January 4th. The stock was sold at an average price of $175.97, for a total transaction of $378,511.47. Following the completion of the sale, the vice president now directly owns 38,685 shares of the company’s stock, valued at approximately $6,807,399.45. The disclosure for this sale can be found here. Insiders sold 77,731 shares of company stock valued at $12,957,058 in the last three months. 0.34% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Sequoia Financial Advisors LLC grew its position in shares of Automatic Data Processing by 19.5% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 4,827 shares of the business services provider’s stock worth $719,000 after acquiring an additional 788 shares in the last quarter. Cubist Systematic Strategies LLC raised its holdings in shares of Automatic Data Processing by 48.0% during the second quarter. Cubist Systematic Strategies LLC now owns 11,815 shares of the business services provider’s stock worth $1,759,000 after purchasing an additional 3,830 shares during the period. Engineers Gate Manager LP boosted its holdings in shares of Automatic Data Processing by 7.6% in the 2nd quarter. Engineers Gate Manager LP now owns 9,037 shares of the business services provider’s stock valued at $1,346,000 after buying an additional 635 shares during the period. AQR Capital Management LLC grew its position in shares of Automatic Data Processing by 9.6% during the 2nd quarter. AQR Capital Management LLC now owns 403,358 shares of the business services provider’s stock valued at $59,342,000 after buying an additional 35,230 shares during the last quarter. Finally, WFA of San Diego LLC acquired a new stake in Automatic Data Processing during the second quarter worth about $282,000. Hedge funds and other institutional investors own 79.65% of the company’s stock.

About Automatic Data Processing

Automatic Data Processing, Inc provides cloud-based human capital management solutions worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO). The Employer Services segment offers strategic, cloud-based platforms, and human resources (HR) outsourcing solutions.

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Analyst Recommendations for Automatic Data Processing (NASDAQ:ADP)

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