Todays Report: The Automatic Data Processing Inc. (ADP) Stock Rating Upgraded by Vetr Inc.

The Automatic Data Processing Inc. (ADP) Stock Rating Upgraded by Vetr Inc.

Automatic Data Processing Inc. (NASDAQ:ADP) was upgraded by stock analysts at Vetr from a “buy” rating to a “strong-buy” rating in a report released on Tuesday. The brokerage presently has a $97.81 target price on the stock.

ADP has been the subject of a number of other reports. Sanford C. Bernstein upgraded shares of Automatic Data Processing from a “mkt perform” rating to an “outperform” rating in a report on Monday, July 11th. Wedbush assumed coverage on shares of Automatic Data Processing in a report on Friday, September 9th. They issued a “neutral” rating and a $100.00 target price for the company. Jefferies Group boosted their target price on shares of Automatic Data Processing from $75.00 to $81.00 and gave the company an “underperform” rating in a report on Monday, August 1st. Citigroup Inc. boosted their target price on shares of Automatic Data Processing from $89.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, July 29th. Finally, Robert W. Baird downgraded shares of Automatic Data Processing from an “outperform” rating to a “neutral” rating and set a $94.00 target price for the company. in a report on Friday, July 29th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Hold” and an average price target of €91.08 ($101.20).

Automatic Data Processing (NASDAQ:ADP) opened at 86.87 on Tuesday. The stock has a market capitalization of $39.63 billion, a P/E ratio of 26.75 and a beta of 0.82. The company has a 50 day moving average of $88.29 and a 200-day moving average of $89.32. Automatic Data Processing has a 52-week low of $76.65 and a 52-week high of $96.00.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Schonfeld Strategic Advisors LLC purchased a new position in Automatic Data Processing during the first quarter worth approximately $615,000. Bank of Nova Scotia Trust Co. boosted its stake in Automatic Data Processing by 26.0% in the first quarter. Bank of Nova Scotia Trust Co. now owns 9,391 shares of the company’s stock valued at $843,000 after buying an additional 1,935 shares in the last quarter. Adage Capital Partners GP L.L.C. boosted its stake in Automatic Data Processing by 130.0% in the first quarter. Adage Capital Partners GP L.L.C. now owns 832,300 shares of the company’s stock valued at $74,666,000 after buying an additional 470,500 shares in the last quarter. Loomis Sayles & Co. L P boosted its stake in Automatic Data Processing by 8.8% in the first quarter. Loomis Sayles & Co. L P now owns 1,909,048 shares of the company’s stock valued at $171,260,000 after buying an additional 153,849 shares in the last quarter. Finally, State Farm Mutual Automobile Insurance Co. boosted its stake in Automatic Data Processing by 5.2% in the first quarter. State Farm Mutual Automobile Insurance Co. now owns 3,873,905 shares of the company’s stock valued at $347,528,000 after buying an additional 191,755 shares in the last quarter. 77.19% of the stock is currently owned by institutional investors and hedge funds.

About Automatic Data Processing

Automatic Data Processing, Inc (ADP) is a provider of human capital management (HCM) solutions and business process outsourcing. The Company operates through two segments: Employer Services and Professional Employer Organization (PEO) Services. The Employer Services segment offers a range of business outsourcing and technology-enabled HCM solutions.

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