Automatic Data Processing, Inc. (NASDAQ: ADP) Receives Average Analyst Rating of “Hold”
Automatic Data Processing, Inc. (NASDAQ:ADP – Get Rating) received a consensus rating of “Hold” from the fifteen research firms that currently cover the company, MarketBeat.com reports. One equity research analyst rated the stock with a sell recommendation, seven gave the company a hold recommendation and three gave the company a buy recommendation. The 1-year average target price among brokers who have reported on the stock in the past year is $231.43.
ADP has been the subject of several recent research reports. Stifel Nicolaus reaffirmed a “hold” rating and set a target price of $238.00 (vs. $222.00) on shares of Automatic Data Processing in a Friday, March 11 report. Bank of America upgraded Automatic Data Processing from an “underperforming” to a “neutral” rating and set a target price of $223.00 on the stock in a Wednesday, March 9 research report . Deutsche Bank Aktiengesellschaft raised its price target on automatic data processing from $203.00 to $234.00 in a report on Thursday, April 28. Barclays raised its price target on automatic data processing shares from $238.00 to $257.00 and gave the stock an “overweight” rating in a research report on Monday May 2. Finally, Robert W. Baird lowered his price target on automatic data processing stock from $242.00 to $220.00 in a Thursday, January 27 research report.
ADP shares opened at $208.79 on Friday. The company has a market capitalization of $87.22 billion, a PE ratio of 30.84, a PEG ratio of 2.54 and a beta of 0.82. Automatic Data Processing has a 12 month minimum of $187.29 and a 12 month maximum of $248.96. The stock’s 50-day moving average price is $221.59 and its two-hundred-day moving average price is $223.01. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt ratio of 0.71.
Automatic Data Processing (NASDAQ:ADP – Get Rating) last announced its results on Wednesday, April 27. The business services provider reported EPS of $2.21 for the quarter, beating the consensus estimate of $2.08 by $0.13. The company posted revenue of $4.51 billion for the quarter, versus a consensus estimate of $4.45 billion. Automatic Data Processing had a return on equity of 56.01% and a net margin of 17.77%. The company’s quarterly revenue increased by 10.0% compared to the same quarter last year. During the same period of the previous year, the company achieved EPS of $1.89. Equity research analysts expect Automatic Data Processing to post EPS of 6.97 for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, July 1. Investors of record on Friday, June 10 will receive a dividend of $1.04. The ex-dividend date is Thursday, June 9. This represents an annualized dividend of $4.16 and a yield of 1.99%. The distribution rate of automatic data processing is 61.45%.
Separately, Vice Chairman Christopher D’ambrosio sold 312 shares of the company in a trade on Monday, May 9. The shares were sold at an average price of $214.07, for a total value of $66,789.84. Following the completion of the sale, the vice president now owns 1,663 shares of the company, valued at approximately $355,998.41. The transaction was disclosed in a document filed with the SEC, accessible via this hyperlink. Additionally, Vice President Deborah L. Dyson sold 2,787 shares of the company in a trade dated Tuesday, April 5. The shares were sold at an average price of $234.55, for a total transaction of $653,690.85. Following the transaction, the vice president now directly owns 26,663 shares of the company, valued at $6,253,806.65. The disclosure of this sale can be found here. Insiders own 0.34% of the shares of the company.
Several institutional investors and hedge funds have recently changed their holdings in ADP. During the third quarter, Bell Investment Advisors Inc. acquired a new stake in shares of Automatic Data Processing valued at approximately $28,000. Sandy Cove Advisors LLC purchased a new stake in shares of Automatic Data Processing during the fourth quarter, valued at approximately $28,000. Crewe Advisors LLC purchased a new stake in shares of Automatic Data Processing during the first quarter worth approximately $28,000. Kozak & Associates Inc. purchased a new stake in shares of Automatic Data Processing during the third quarter valued at approximately $29,000. Finally, Tortoise Investment Management LLC increased its position in Automatic Data Processing shares by 70.8% during the fourth quarter. Tortoise Investment Management LLC now owns 123 shares of the business services provider valued at $30,000 after acquiring 51 additional shares in the last quarter. 78.84% of the shares are held by institutional investors.
About automatic data processing (Get a rating)
Automatic Data Processing, Inc provides cloud-based human capital management solutions worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO). The Employer Services segment offers strategic cloud-based platforms and human resource (HR) outsourcing solutions.
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