Barclays Capital Sets Automatic Data Processing Incorporated Price Target at $58.00 (ADP)

By admin | 6 years ago

Research analysts at Barclays Capital (NYSE: BCS) dropped their target price on shares of Automatic Data Processing Incorporated (NYSE: ADP) from $60.00 to $58.00 in a report released on Friday. The firm currently has an “overweight” rating on the stock.

Shares of Automatic Data Processing Incorporated opened at 52.68 on Friday. Automatic Data Processing Incorporated has a 52 week low of $44.72 and a 52 week high of $57.10. The company has a market cap of $25.765 billion and a P/E ratio of 19.13.

Automatic Data Processing Incorporated last announced its earnings results on Tuesday, May 1st. The company reported $0.92 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.91 by $0.01. The company’s quarterly revenue was up 6.8% on a year-over-year basis. On average, analysts predict that Automatic Data Processing Incorporated will post $0.65 earnings per share next quarter.

Several other analysts have also recently commented on the stock. Analysts at UBS AG (NYSE: UBS) reiterated a “buy” rating on shares of Automatic Data Processing Incorporated in a research note to investors on Wednesday, May 2nd. Separately, analysts at Bank of America (NYSE: BAC) initiated coverage on shares of Automatic Data Processing Incorporated in a research note to investors on Friday, March 9th. They set a “buy” rating on the stock.

Automatic Data Processing, Inc. (ADP) is engaged in providing business outsourcing solutions. ADP offers a range of human resource (HR), payroll, tax and benefits administration solutions from a single source.

About the author