Automatic Data Processing (NASDAQ:ADP) Price Target Raised to $295.00

Automatic Data Processing (NASDAQ:ADP) had its target price hoisted by UBS Group from $270.00 to $295.00 in a research report released on Tuesday morning, Benzinga reports. They currently have a neutral rating on the business services provider’s stock.

A number of other brokerages also recently issued reports on ADP. Citigroup upped their price objective on Automatic Data Processing from $260.00 to $295.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. Royal Bank of Canada restated a “sector perform” rating and set a $267.00 price target on shares of Automatic Data Processing in a research report on Thursday, August 1st. Bank of America lifted their price objective on shares of Automatic Data Processing from $250.00 to $267.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Stifel Nicolaus increased their target price on shares of Automatic Data Processing from $271.00 to $287.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Finally, JPMorgan Chase & Co. lifted their price target on shares of Automatic Data Processing from $250.00 to $285.00 and gave the stock an “underweight” rating in a report on Tuesday, August 20th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, Automatic Data Processing presently has a consensus rating of “Hold” and an average target price of $275.33.

Automatic Data Processing Stock Down 0.2 %

ADP opened at $289.43 on Tuesday. Automatic Data Processing has a fifty-two week low of $205.53 and a fifty-two week high of $294.18. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.01 and a quick ratio of 1.01. The company’s 50-day moving average is $278.40 and its 200 day moving average is $257.89. The firm has a market capitalization of $118.46 billion, a P/E ratio of 32.30, a PEG ratio of 3.13 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Wednesday, July 31st. The business services provider reported $2.09 EPS for the quarter, topping the consensus estimate of $2.06 by $0.03. The firm had revenue of $4.80 billion for the quarter, compared to analysts’ expectations of $4.74 billion. Automatic Data Processing had a net margin of 19.54% and a return on equity of 89.20%. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.89 EPS. Research analysts expect that Automatic Data Processing will post 10.04 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were issued a dividend of $1.40 per share. The ex-dividend date was Friday, September 13th. This represents a $5.60 dividend on an annualized basis and a yield of 1.93%. Automatic Data Processing’s payout ratio is 62.50%.

Insider Transactions at Automatic Data Processing

In other Automatic Data Processing news, Director Carlos A. Rodriguez sold 9,203 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $269.45, for a total value of $2,479,748.35. Following the completion of the transaction, the director now owns 36,741 shares in the company, valued at $9,899,862.45. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Maria Black sold 19,147 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $274.38, for a total value of $5,253,553.86. Following the transaction, the chief executive officer now owns 92,807 shares of the company’s stock, valued at approximately $25,464,384.66. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Carlos A. Rodriguez sold 9,203 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $269.45, for a total value of $2,479,748.35. Following the completion of the sale, the director now owns 36,741 shares in the company, valued at $9,899,862.45. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 58,817 shares of company stock valued at $15,999,208 over the last three months. Company insiders own 0.26% of the company’s stock.

Hedge Funds Weigh In On Automatic Data Processing

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Kiely Wealth Advisory Group Inc. bought a new position in shares of Automatic Data Processing in the 2nd quarter worth $27,000. Keener Financial Planning LLC lifted its holdings in shares of Automatic Data Processing by 230.3% during the 1st quarter. Keener Financial Planning LLC now owns 109 shares of the business services provider’s stock worth $28,000 after acquiring an additional 76 shares during the last quarter. Hexagon Capital Partners LLC increased its stake in Automatic Data Processing by 78.5% in the third quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider’s stock valued at $32,000 after acquiring an additional 51 shares during the last quarter. Crewe Advisors LLC purchased a new stake in Automatic Data Processing during the first quarter valued at about $33,000. Finally, Pathway Financial Advisers LLC purchased a new stake in Automatic Data Processing during the first quarter valued at about $36,000. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

About Automatic Data Processing

Automatic Data Processing, Inc provides cloud-based human capital management solutions worldwide. It operates in two segments, Employer Services and Professional Employer Organization (PEO). The Employer Services segment offers strategic, cloud-based platforms, and human resources (HR) outsourcing solutions.