Automatic Data Processing was Upgraded to a Hold Rating at Evercore ISI

By Ryan Adsit

In a report released today, David Togut from Evercore ISI upgraded Automatic Data Processing (NASDAQ: ADP) to Hold. The company’s shares closed on Friday at $117.38, close to its 52-week high of $120.

According to TipRanks.com, Togut is ranked #855 out of 4627 analysts.

Currently, the analyst consensus on Automatic Data Processing is Hold and the average price target is $104, representing a -11.4% downside.

In a report issued on July 18, Barclays also downgraded the stock to Hold with a $105 price target.

Automatic Data Processing’s market cap is currently $52.57B and has a P/E ratio of 30.53. The company has a book value ratio of 12.8134.

Based on the recent corporate insider activity of 76 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.