Automatic Data Processing, Inc. (NASDAQ:ADP) Short Interest Update
Automatic Data Processing, Inc. (NASDAQ:ADP) experienced a significant increase in short interest in June. The company's stock had short interest totaling 4,780,000 shares, a growth of 6.0% from the previous total. The days-to-cover ratio is currently 3.3 days, with approximately 1.2% of the shares sold short.
Automatic Data Processing, Inc. (NASDAQ:ADP - Get Free Report) saw a significant increase in short interest in June. As of June 30th, there was short interest totalling 4,780,000 shares, an increase of 6.0% from the June 15th total of 4,510,000 shares. Approximately 1.2% of the company's stock are sold short. Based on an average daily trading volume, of 1,470,000 shares, the short-interest ratio is currently 3.3 days.
Automatic Data Processing Price Performance
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Shares of NASDAQ:ADP opened at $245.82 on Wednesday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.65. The company has a 50-day moving average price of $244.03 and a 200 day moving average price of $244.25. Automatic Data Processing has a 52 week low of $205.53 and a 52 week high of $256.84. The company has a market cap of $100.61 billion, a P/E ratio of 27.44, a PEG ratio of 2.40 and a beta of 0.78.
Automatic Data Processing (NASDAQ:ADP - Get Free Report) last released its quarterly earnings data on Wednesday, May 1st. The business services provider reported $2.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.79 by $0.09. The firm had revenue of $5.30 billion during the quarter, compared to analysts' expectations of $5.22 billion. Automatic Data Processing had a return on equity of 93.09% and a net margin of 19.56%. Automatic Data Processing's revenue was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.52 earnings per share. Research analysts predict that Automatic Data Processing will post 9.16 earnings per share for the current year.
Wall Street Analysts Forecast Growth
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Several equities analysts have commented on the stock. TD Cowen dropped their price target on shares of Automatic Data Processing from $253.00 to $251.00 and set a "hold" rating on the stock in a research note on Thursday, May 2nd. JPMorgan Chase & Co. reduced their price target on shares of Automatic Data Processing from $254.00 to $250.00 and set an "underweight" rating for the company in a research report on Thursday, May 2nd. StockNews.com lowered Automatic Data Processing from a "buy" rating to a "hold" rating in a report on Tuesday, July 2nd. Evercore ISI lifted their target price on Automatic Data Processing from $227.00 to $235.00 and gave the stock an "underperform" rating in a research report on Tuesday, March 26th. Finally, Barclays upped their target price on Automatic Data Processing from $280.00 to $282.00 and gave the company an "overweight" rating in a research report on Thursday, May 2nd. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $255.42.
View Our Latest Stock Analysis on Automatic Data Processing
Institutional Trading of Automatic Data Processing
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A number of institutional investors have recently added to or reduced their stakes in the stock. BlueSpruce Investments LP purchased a new stake in shares of Automatic Data Processing in the 1st quarter worth about $365,757,000. Norges Bank purchased a new stake in shares of Automatic Data Processing in the fourth quarter valued at about $308,321,000. International Assets Investment Management LLC grew its position in shares of Automatic Data Processing by 22,539.4% in the fourth quarter. International Assets Investment Management LLC now owns 934,326 shares of the business services provider's stock valued at $217,670,000 after purchasing an additional 930,199 shares during the last quarter. Capital Research Global Investors grew its position in shares of Automatic Data Processing by 22.5% in the fourth quarter. Capital Research Global Investors now owns 3,543,317 shares of the business services provider's stock valued at $825,487,000 after purchasing an additional 649,791 shares during the last quarter. Finally, Nordea Investment Management AB increased its stake in shares of Automatic Data Processing by 27.7% during the 1st quarter. Nordea Investment Management AB now owns 2,715,382 shares of the business services provider's stock worth $678,601,000 after purchasing an additional 589,831 shares in the last quarter. Hedge funds and other institutional investors own 80.03% of the company's stock.
Automatic Data Processing Company Profile
(Get Free Report)Automatic Data Processing, Inc provides cloud-based human capital management solutions worldwide. It operates in 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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