Todays Report: The Automatic Data Processing Inc. (ADP) Decreased to “Buy” at Vetr Inc.

The Automatic Data Processing Inc. (ADP) Decreased to “Buy” at Vetr Inc.

Automatic Data Processing Inc. (NASDAQ:ADP) was downgraded by stock analysts at Vetr from a “strong-buy” rating to a “buy” rating in a research note issued on Wednesday. They currently have a $97.81 price objective on the stock. Vetr‘s price objective points to a potential upside of 0.92% from the company’s current price.

Several other analysts have also weighed in on the stock. Sanford C. Bernstein upgraded shares of Automatic Data Processing from a “mkt perform” rating to an “outperform” rating in a research report on Monday, July 11th. Wedbush began coverage on shares of Automatic Data Processing in a research report on Friday, September 9th. They set a “neutral” rating and a $100.00 target price on the stock. Jefferies Group upped their target price on shares of Automatic Data Processing from $75.00 to $81.00 and gave the stock an “underperform” rating in a research report on Monday, August 1st. Citigroup Inc. upped their target price on shares of Automatic Data Processing from $89.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, July 29th. Finally, Robert W. Baird lowered shares of Automatic Data Processing from an “outperform” rating to a “neutral” rating and set a $94.00 target price on the stock. in a research report on Friday, July 29th. Three analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. Automatic Data Processing presently has a consensus rating of “Hold” and an average target price of $90.76.

Shares of Automatic Data Processing (NASDAQ:ADP) traded up 0.28% during midday trading on Wednesday, hitting $96.92. 724,798 shares of the company’s stock traded hands. The firm has a market capitalization of $43.73 billion, a price-to-earnings ratio of 29.00 and a beta of 0.79. Automatic Data Processing has a 1-year low of $76.65 and a 1-year high of $97.43. The company has a 50 day moving average price of $89.82 and a 200 day moving average price of $89.49.

Several large investors have recently modified their holdings of ADP. Mariner Wealth Advisors LLC boosted its position in shares of Automatic Data Processing by 47.1% in the first quarter. Mariner Wealth Advisors LLC now owns 6,065 shares of the company’s stock valued at $544,000 after buying an additional 1,941 shares during the last quarter. National Pension Service boosted its position in shares of Automatic Data Processing by 4.1% in the first quarter. National Pension Service now owns 270,309 shares of the company’s stock valued at $24,249,000 after buying an additional 10,642 shares during the last quarter. Adage Capital Partners GP L.L.C. boosted its position in shares of 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 during the last quarter. Zurich Insurance Group Ltd FI boosted its position in shares of Automatic Data Processing by 23.0% in the first quarter. Zurich Insurance Group Ltd FI now owns 68,161 shares of the company’s stock valued at $6,115,000 after buying an additional 12,738 shares during the last quarter. Finally, Legal & General Group Plc boosted its position in shares of Automatic Data Processing by 1.5% in the first quarter. Legal & General Group Plc now owns 2,290,173 shares of the company’s stock valued at $205,438,000 after buying an additional 33,983 shares during the last quarter. 77.76% of the stock is owned by institutional investors.

Automatic Data Processing Company Profile

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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