Automatic Data Processing (ADP) is Upgraded by Bernstein to Outperform, Raises Price Target to $ 110

Automatic Data Processing (ADP) was Upgraded by Bernstein to ” Outperform” according to the research note released today. The brokerage firm has raised the Price Target to $ 110 from a previous price target of $97 . Earlier the firm had a rating of “Mkt Perform ” on the company shares. Bernstein advised their investors in a research report released on Jul 11, 2016.

Many Wall Street Analysts have commented on Automatic Data Processing. 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 .Compass Point Initiated Automatic Data Processing on Apr 15, 2016 to “Sell”, Price Target of the shares are set at $76.

On the company’s financial health, Automatic Data Processing reported $1.17 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Apr 28, 2016. Analyst had a consensus of $1.18. The company had revenue of $3248.60 million for the quarter, compared to analysts expectations of $3272.98 million. The company’s revenue was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.04 EPS.

Automatic Data Processing opened for trading at $94.12 and hit $94.59 on the upside on Friday, eventually ending the session at $94.47, with a gain of 1.04% or 0.97 points. The heightened volatility saw the trading volume jump to 21,48,166 shares. Company has a market cap of $43,034 M.

In a different news, on Jul 5, 2016, Brock Albinson (Corp. VP) sold 378 shares at $92.00 per share price. According to the SEC, on Jul 5, 2016, Michael C Eberhard (Corporate Vice President) sold 3,412 shares at $92.00 per share price. On Jul 5, 2016, Maria Black (Corp. VP) sold 1,855 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.

Automatic Data Processing

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