Shares of Automatic Data Processing, Inc. (NASDAQ:ADP – Get Free Report) have been assigned an average rating of “Hold” from the six analysts that are presently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $248.23.
ADP has been the topic of a number of recent research reports. Mizuho raised their price target on shares of Automatic Data Processing from $255.00 to $285.00 and gave the company a “buy” rating in a report on Thursday, August 17th. Jefferies Financial Group raised their price target on shares of Automatic Data Processing from $240.00 to $260.00 in a report on Wednesday, July 26th. Robert W. Baird lifted their target price on shares of Automatic Data Processing from $235.00 to $270.00 in a report on Thursday, July 27th. StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Friday, August 25th. Finally, UBS Group initiated coverage on shares of Automatic Data Processing in a research report on Friday, June 2nd. They issued a “neutral” rating and a $230.00 price target on the stock.
Automatic Data Processing Trading Down 0.1 %
Automatic Data Processing (NASDAQ:ADP – Get Free Report) last posted its quarterly earnings data on Wednesday, July 26th. The business services provider reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.06. Automatic Data Processing had a net margin of 18.94% and a return on equity of 107.15%. The firm had revenue of $4.48 billion during the quarter, compared to analyst estimates of $4.39 billion. During the same quarter last year, the business posted $1.50 EPS. The company’s revenue was up 8.5% on a year-over-year basis. Research analysts forecast that Automatic Data Processing will post 9.14 EPS for the current year.
Automatic Data Processing Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Sunday, October 1st. Investors of record on Friday, September 8th will be issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 1.96%. The ex-dividend date is Thursday, September 7th. Automatic Data Processing’s dividend payout ratio is currently 60.98%.
Insiders Place Their Bets
In other Automatic Data Processing news, VP Michael A. Bonarti sold 7,049 shares of the business’s stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $254.75, for a total value of $1,795,732.75. Following the completion of the transaction, the vice president now directly owns 67,044 shares of the company’s stock, valued at $17,079,459. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.33% of the company’s stock.
Institutional Investors Weigh In On Automatic Data Processing
A number of institutional investors and hedge funds have recently modified their holdings of ADP. Ten Capital Wealth Advisors LLC grew its holdings in Automatic Data Processing by 110.7% during the first quarter. Ten Capital Wealth Advisors LLC now owns 118 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 62 shares during the period. China Universal Asset Management Co. Ltd. acquired a new position in Automatic Data Processing during the first quarter valued at approximately $28,000. Coppell Advisory Solutions LLC acquired a new position in Automatic Data Processing during the second quarter valued at approximately $30,000. Coppell Advisory Solutions Corp. acquired a new position in Automatic Data Processing during the fourth quarter valued at approximately $33,000. Finally, Strategic Investment Solutions Inc. IL acquired a new position in Automatic Data Processing during the first quarter valued at approximately $31,000. 79.37% of the stock is owned by institutional investors.
Automatic Data Processing Company Profile
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.
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