Automatic Data Processing (ADP) was Downgraded by Robert W. Baird to ” Neutral” and the brokerage firm has set the Price Target at $94. Earlier the firm had a rating of “Outperform ” on the company shares. Robert W. Baird advised their investors in a research report released on Jul 29, 2016.
Many Wall Street Analysts have commented on Automatic Data Processing. Company shares were Upgraded by Bernstein on Jul 11, 2016 to ” Outperform”, Firm has raised the Price Target to $ 110 from a previous price target of $97 .Company shares were Reiterated by RBC Capital Mkts on May 2, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 90 from a previous price target of $87 .
On the company’s financial health, Automatic Data Processing reported $0.69 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $0.67. The company had revenue of $2898.20 million for the quarter, compared to analysts expectations of $2934.72 million. The company’s revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.55 EPS.
Automatic Data Processing closed down -3.2 points or -3.37% at $91.73 with 36,09,172 shares getting traded on Thursday. Post opening the session at $93, the shares hit an intraday low of $91.37 and an intraday high of $93 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.
In a different news, on Jul 12, 2016, Jan Siegmund (Corporate Vice President) sold 3,292 shares at $95.00 per share price. According to the SEC, on Jul 12, 2016, Carlos A Rodriguez (President & CEO) sold 67,064 shares at $95.00 per share price. On Jul 5, 2016, Brock Albinson (Corp. VP) sold 378 shares at $92.00 per share price, according to the Form-4 filing with the securities and exchange commission.
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. These offerings include payroll services benefits administration recruiting and talent management human resources management insurance services retirement services and payment and compliance solutions. The Company’s PEO business ADP TotalSource offers small and mid-sized businesses human resources (HR) outsourcing solution through a co-employment model. ADP TotalSource includes HR management and employee benefits functions including HR administration employee benefits and employer liability management into a single-source solution including HR administration employee benefits and employer liability management.