Fintel reports that on July 31, 2023, Barclays maintained coverage of Automatic Data Processing (NASDAQ:ADP) with a Overweight recommendation.
Analyst Price Forecast Suggests 4.76% Downside
As of July 6, 2023, the average one-year price target for Automatic Data Processing is 235.50. The forecasts range from a low of 177.76 to a high of $288.75. The average price target represents a decrease of 4.76% from its latest reported closing price of 247.27.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Automatic Data Processing is 19,387MM, an increase of 9.77%. The projected annual non-GAAP EPS is 9.11.
What is the Fund Sentiment?
There are 2937 funds or institutions reporting positions in Automatic Data Processing. This is a decrease of 42 owner(s) or 1.41% in the last quarter. Average portfolio weight of all funds dedicated to ADP is 0.46%, an increase of 14.91%. Total shares owned by institutions decreased in the last three months by 2.08% to 353,379K shares. 
The put/call ratio of ADP is 1.12, indicating a bearish outlook.
What are Other Shareholders Doing?
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 12,828K shares representing 3.11% ownership of the company. In it's prior filing, the firm reported owning 12,611K shares, representing an increase of 1.69%. The firm decreased its portfolio allocation in ADP by 12.46% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 9,669K shares representing 2.34% ownership of the company. In it's prior filing, the firm reported owning 9,590K shares, representing an increase of 0.82%. The firm decreased its portfolio allocation in ADP by 12.85% over the last quarter.
Bank of New York Mellon holds 9,399K shares representing 2.28% ownership of the company. In it's prior filing, the firm reported owning 9,963K shares, representing a decrease of 6.00%. The firm decreased its portfolio allocation in ADP by 90.31% over the last quarter.
Bank Of America holds 9,030K shares representing 2.19% ownership of the company. In it's prior filing, the firm reported owning 7,441K shares, representing an increase of 17.60%. The firm increased its portfolio allocation in ADP by 2.00% over the last quarter.
Geode Capital Management holds 9,021K shares representing 2.18% ownership of the company. In it's prior filing, the firm reported owning 9,045K shares, representing a decrease of 0.27%. The firm decreased its portfolio allocation in ADP by 14.02% over the last quarter.
Automatic Data Processing Background Information
(This description is provided by the company.)
ADP is a comprehensive global provider of cloud-based human capital management (HCM) solutions that unite HR, payroll, talent, time, tax and benefits administration, and a leader in business outsourcing services, analytics and compliance expertise. Its unmatched experience, deep insights and cutting-edge technology has transformed human resources from a back-office administrative function to a strategic business advantage.
Additional reading:
- Fiscal 2023
- US$4,250,000,000 364-DAY CREDIT AGREEMENT dated as of June 30, 2023, among AUTOMATIC DATA PROCESSING, INC. The BORROWING SUBSIDIARIES referred to herein The LENDERS Party Hereto JPMORGAN CHASE BANK, N.A., as Administrative Agent BANK OF AMERICA, N.A.
- US$2,250,000,000 FIVE-YEAR CREDIT AGREEMENT dated as of June 30, 2023, AUTOMATIC DATA PROCESSING, INC. The BORROWING SUBSIDIARIES referred to herein The LENDERS Party Hereto JPMORGAN CHASE BANK, N.A., as Administrative Agent BANK OF AMERICA, N.A. BNP
- [Signature page follows]
- AUTOMATIC DATA PROCESSING, INC. As Amended and Restated on April 28, 2023 AUTOMATIC DATA PROCESSING, INC. TABLE OF CONTENTS
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
