Automatic Data Processing (NASDAQ:ADP) Given New $244.00 Price Target at Cantor Fitzgerald

Automatic Data Processing (NASDAQ:ADP) had its price target cut by Cantor Fitzgerald from $306.00 to $244.00 in a report issued on Tuesday morning,Benzinga reports. They currently have an overweight rating on the business services provider’s stock.

Several other equities analysts have also issued reports on ADP. UBS Group dropped their price target on Automatic Data Processing from $220.00 to $210.00 and set a “neutral” rating on the stock in a research note on Monday, April 13th. Wells Fargo & Company dropped their price target on Automatic Data Processing from $262.00 to $214.00 and set an “underweight” rating on the stock in a research note on Friday, March 27th. Citigroup dropped their price target on Automatic Data Processing from $303.00 to $265.00 and set a “neutral” rating on the stock in a research note on Thursday, January 29th. Stifel Nicolaus lowered their target price on Automatic Data Processing from $280.00 to $270.00 and set a “hold” rating on the stock in a research report on Monday, February 9th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Automatic Data Processing in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $273.85.

Automatic Data Processing Price Performance

Automatic Data Processing stock opened at $202.87 on Tuesday. The stock’s 50 day moving average is $208.23 and its 200 day moving average is $242.18. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a market cap of $81.68 billion, a P/E ratio of 19.51 and a beta of 0.85. Automatic Data Processing has a one year low of $188.16 and a one year high of $329.93.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, January 28th. The business services provider reported $2.62 EPS for the quarter, topping analysts’ consensus estimates of $2.57 by $0.05. Automatic Data Processing had a return on equity of 68.44% and a net margin of 19.96%.The company had revenue of $5.36 billion for the quarter, compared to analyst estimates of $5.34 billion. During the same period in the previous year, the firm earned $2.35 earnings per share. The firm’s quarterly revenue was up 6.2% on a year-over-year basis. Automatic Data Processing has set its FY 2026 guidance at 10.091-11.011 EPS. As a group, research analysts expect that Automatic Data Processing will post 10.96 EPS for the current year.

Automatic Data Processing Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Friday, June 12th will be given a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Friday, June 12th. Automatic Data Processing’s dividend payout ratio is presently 65.38%.

Automatic Data Processing announced that its board has approved a share repurchase plan on Wednesday, January 14th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the business services provider to repurchase up to 5.8% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, VP Christopher D’ambrosio sold 543 shares of the company’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of $208.45, for a total value of $113,188.35. Following the completion of the transaction, the vice president owned 8,912 shares in the company, valued at $1,857,706.40. This represents a 5.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP David Foskett sold 266 shares of the company’s stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $237.00, for a total value of $63,042.00. Following the completion of the transaction, the vice president owned 10,954 shares of the company’s stock, valued at $2,596,098. This trade represents a 2.37% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 1,809 shares of company stock worth $410,410 in the last quarter. 0.20% of the stock is currently owned by company insiders.

Institutional Trading of Automatic Data Processing

A number of institutional investors have recently added to or reduced their stakes in ADP. Imprint Wealth LLC purchased a new stake in Automatic Data Processing during the 3rd quarter worth about $25,000. Cornerstone Financial Management LLC purchased a new position in shares of Automatic Data Processing during the 4th quarter valued at about $26,000. TruNorth Capital Management LLC purchased a new position in shares of Automatic Data Processing during the 3rd quarter valued at about $28,000. Bard Associates Inc. purchased a new position in shares of Automatic Data Processing during the 4th quarter valued at about $28,000. Finally, Cloud Capital Management LLC purchased a new position in shares of Automatic Data Processing during the 3rd quarter valued at about $29,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

About Automatic Data Processing

Automatic Data Processing, Inc (ADP) is a global provider of cloud-based human capital management (HCM) and payroll solutions. Founded in 1949 and headquartered in Roseland, New Jersey, ADP began as a payroll processing company and has evolved into a diversified provider of workforce management, HR, benefits administration, tax and compliance services, and analytics for employers of all sizes.

ADP’s product portfolio includes payroll processing and tax filing, time and attendance systems, benefits administration, talent management, and HR outsourcing.