Automatic Data Processing (NASDAQ:ADP) had its target price boosted by JPMorgan Chase & Co. from $138.00 to $151.00 in a research report report published on Monday morning, The Fly reports. They currently have a neutral rating on the business services provider’s stock.
Several other brokerages have also recently weighed in on ADP. Zacks Investment Research cut Automatic Data Processing from a hold rating to a strong sell rating and set a $112.00 price objective for the company. in a research note on Friday, July 31st. Cfra decreased their price objective on Automatic Data Processing from $176.00 to $161.00 and set a hold rating for the company in a research note on Wednesday, April 29th. Citigroup decreased their price objective on Automatic Data Processing from $148.00 to $144.00 and set a neutral rating for the company in a research note on Thursday, July 30th. Stifel Nicolaus decreased their price objective on Automatic Data Processing from $155.00 to $142.00 and set a hold rating for the company in a research note on Thursday, July 30th. Finally, BidaskClub cut Automatic Data Processing from a hold rating to a sell rating in a research note on Thursday, July 23rd. Five investment analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company’s stock. Automatic Data Processing has an average rating of Hold and a consensus target price of $154.08.
Shares of Automatic Data Processing stock opened at $139.15 on Monday. The stock’s fifty day moving average is $142.95 and its two-hundred day moving average is $147.17. The company has a market capitalization of $59.83 billion, a PE ratio of 24.41, a price-to-earnings-growth ratio of 2.33 and a beta of 0.75. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.23. Automatic Data Processing has a 52 week low of $103.11 and a 52 week high of $182.32.
Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, July 29th. The business services provider reported $1.14 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.96 by $0.18. The company had revenue of $3.40 billion for the quarter, compared to the consensus estimate of $3.32 billion. Automatic Data Processing had a return on equity of 46.66% and a net margin of 16.91%. Automatic Data Processing’s quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.14 EPS. As a group, research analysts anticipate that Automatic Data Processing will post 5 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 11th will be issued a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date of this dividend is Thursday, September 10th. Automatic Data Processing’s dividend payout ratio is presently 61.49%.
In related news, VP Brian L. Michaud sold 250 shares of the firm’s stock in a transaction dated Friday, July 10th. The stock was sold at an average price of $145.00, for a total transaction of $36,250.00. Following the sale, the vice president now directly owns 5,162 shares of the company’s stock, valued at $748,490. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.31% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of the stock. Rockbridge Investment Management LCC purchased a new position in Automatic Data Processing during the second quarter worth approximately $82,000. Ninety One North America Inc. boosted its position in Automatic Data Processing by 238.3% during the second quarter. Ninety One North America Inc. now owns 22,042 shares of the business services provider’s stock worth $3,282,000 after purchasing an additional 15,526 shares in the last quarter. RMR Wealth Builders purchased a new position in Automatic Data Processing during the second quarter worth approximately $47,000. Orion Portfolio Solutions LLC boosted its position in Automatic Data Processing by 10.8% during the second quarter. Orion Portfolio Solutions LLC now owns 3,386 shares of the business services provider’s stock worth $504,000 after purchasing an additional 330 shares in the last quarter. Finally, tru Independence LLC boosted its position in Automatic Data Processing by 1.7% during the second quarter. tru Independence LLC now owns 5,174 shares of the business services provider’s stock worth $770,000 after purchasing an additional 87 shares in the last quarter. 79.82% of the stock is currently owned by hedge funds and other institutional investors.
Automatic Data Processing Company Profile
Automatic Data Processing, Inc provides business process outsourcing services worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO) Services. The Employer Services segment offers various human resources (HR) outsourcing and technology-based human capital management solutions.
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