Fintel reports that on September 5, 2023, RBC Capital initiated coverage of Automatic Data Processing (NASDAQ:ADP) with a Sector Perform recommendation.
Analyst Price Forecast Suggests 3.46% Upside
As of August 31, 2023, the average one-year price target for Automatic Data Processing is 264.60. The forecasts range from a low of 227.25 to a high of $299.25. The average price target represents an increase of 3.46% from its latest reported closing price of 255.75.
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 7.63%. The projected annual non-GAAP EPS is 9.11.
What is the Fund Sentiment?
There are 2825 funds or institutions reporting positions in Automatic Data Processing. This is a decrease of 126 owner(s) or 4.27% in the last quarter. Average portfolio weight of all funds dedicated to ADP is 0.43%, a decrease of 5.64%. Total shares owned by institutions decreased in the last three months by 0.93% to 350,080K shares. 
The put/call ratio of ADP is 0.88, indicating a bullish outlook.
What are Other Shareholders Doing?
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 12,879K shares representing 3.13% ownership of the company. In it's prior filing, the firm reported owning 12,828K shares, representing an increase of 0.39%. The firm decreased its portfolio allocation in ADP by 8.55% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 9,836K shares representing 2.39% ownership of the company. In it's prior filing, the firm reported owning 9,669K shares, representing an increase of 1.71%. The firm decreased its portfolio allocation in ADP by 9.03% over the last quarter.
Geode Capital Management holds 9,319K shares representing 2.26% ownership of the company. In it's prior filing, the firm reported owning 9,021K shares, representing an increase of 3.19%. The firm decreased its portfolio allocation in ADP by 7.75% over the last quarter.
Bank of New York Mellon holds 9,198K shares representing 2.23% ownership of the company. In it's prior filing, the firm reported owning 9,399K shares, representing a decrease of 2.18%. The firm decreased its portfolio allocation in ADP by 11.50% over the last quarter.
Alliancebernstein holds 8,633K shares representing 2.10% ownership of the company. In it's prior filing, the firm reported owning 8,843K shares, representing a decrease of 2.43%. The firm decreased its portfolio allocation in ADP by 8.14% 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:
- AUTOMATIC DATA PROCESSING, INC. 2018 OMNIBUS AWARD PLAN RESTRICTED STOCK UNIT AWARD AGREEMENT
- AUTOMATIC DATA PROCESSING, INC. 2018 OMNIBUS AWARD PLAN PERFORMANCE STOCK UNIT AWARD AGREEMENT
- AUTOMATIC DATA PROCESSING, INC. AMENDED AND RESTATED EMPLOYEES’ SAVINGS–STOCK PURCHASE PLAN
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