Automatic Data Processing, Inc. (NASDAQ:ADP) Given Average Recommendation of “Hold” by Brokerages

Shares of Automatic Data Processing, Inc. (NASDAQ:ADP) have been assigned an average rating of “Hold” from the ten analysts that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and two have given a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $302.30.

A number of equities research analysts have weighed in on the company. Barclays lifted their target price on Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Jefferies Financial Group raised their price target on Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. Royal Bank of Canada restated a “sector perform” rating and issued a $315.00 target price on shares of Automatic Data Processing in a research note on Thursday, January 30th. StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Finally, UBS Group upped their price target on Automatic Data Processing from $318.00 to $324.00 and gave the stock a “neutral” rating in a report on Tuesday, March 4th.

Insider Buying and Selling

In related news, VP Christopher D’ambrosio sold 478 shares of the firm’s stock in a transaction that occurred on Thursday, April 10th. The stock was sold at an average price of $293.14, for a total transaction of $140,120.92. Following the transaction, the vice president now owns 7,364 shares in the company, valued at $2,158,682.96. This trade represents a 6.10 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Jonathan S. Lehberger sold 2,324 shares of Automatic Data Processing stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $303.30, for a total transaction of $704,869.20. Following the completion of the transaction, the vice president now directly owns 3,063 shares in the company, valued at $929,007.90. The trade was a 43.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,775 shares of company stock worth $1,447,893. Company insiders own 0.21% of the company’s stock.

Hedge Funds Weigh In On Automatic Data Processing

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Automatic Data Processing by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 40,731,270 shares of the business services provider’s stock valued at $11,923,265,000 after buying an additional 277,324 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Automatic Data Processing by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 10,583,607 shares of the business services provider’s stock worth $3,098,305,000 after acquiring an additional 65,965 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Automatic Data Processing by 17.1% during the 4th quarter. Northern Trust Corp now owns 6,174,419 shares of the business services provider’s stock worth $1,807,438,000 after buying an additional 902,354 shares during the last quarter. Capital Research Global Investors lifted its stake in shares of Automatic Data Processing by 26.9% in the 4th quarter. Capital Research Global Investors now owns 6,136,763 shares of the business services provider’s stock valued at $1,796,415,000 after purchasing an additional 1,299,390 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Automatic Data Processing by 6.0% during the 4th quarter. Invesco Ltd. now owns 3,886,552 shares of the business services provider’s stock worth $1,137,710,000 after purchasing an additional 219,032 shares during the period. 80.03% of the stock is owned by hedge funds and other institutional investors.

Automatic Data Processing Price Performance

ADP stock opened at $292.89 on Wednesday. The company has a market capitalization of $119.34 billion, a PE ratio of 30.54, a price-to-earnings-growth ratio of 3.62 and a beta of 0.74. Automatic Data Processing has a one year low of $231.27 and a one year high of $322.84. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.00. The company’s fifty day moving average price is $300.49 and its 200-day moving average price is $298.26.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.05. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. On average, equities analysts anticipate that Automatic Data Processing will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be given a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date is Friday, June 13th. Automatic Data Processing’s dividend payout ratio is currently 64.23%.

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.