RBC Capital Reaffirms Their Hold Rating on Automatic Data Processing

By Austin Angelo

In a report issued on September 13, Gary Bisbee from RBC Capital reiterated a Hold rating on Automatic Data Processing (NASDAQ: ADP), with a price target of $95. The company’s shares closed yesterday at $106.78.

According to TipRanks.com, Bisbee is a 5-star analyst with an average return of 10.5% and a 73.0% success rate. Bisbee covers the Services sector, focusing on stocks such as Ollie’s Bargain Outlet Holding, Emerald Expositions Events Inc, and Servicemaster Global Holdings.

Currently, the analyst consensus on Automatic Data Processing is Hold and the average price target is $104.30, representing a -2.3% downside.

In a report issued on August 30, Robert W. Baird also reiterated a Hold rating on the stock with a $111 price target.

The company has a one year high of $121.77 and a one year low of $85.48. Currently, Automatic Data Processing has an average volume of 4.89M.

Based on the recent corporate insider activity of 89 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ADP in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Automatic Data Processing, Inc. provides business outsourcing solutions. It operates through the following segments: Employer Services and Professional Employer Organization Services.