Automatic Data Processing, Inc. (NASDAQ:ADP) Receives $289.91 Consensus PT from Analysts

Shares of Automatic Data Processing, Inc. (NASDAQ:ADP) have been assigned an average rating of “Hold” from the twelve ratings firms that are covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $289.91.

A number of analysts have recently commented on ADP shares. Barclays upped their price target on Automatic Data Processing from $310.00 to $325.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Citigroup upped their target price on shares of Automatic Data Processing from $260.00 to $295.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. Mizuho lifted their price target on shares of Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Thursday, September 19th. Finally, TD Cowen lifted their target price on Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a report on Friday, November 1st.

Insider Buying and Selling at Automatic Data Processing

In related news, VP Sreenivasa Kutam sold 38,975 shares of Automatic Data Processing stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $300.00, for a total value of $11,692,500.00. Following the sale, the vice president now owns 32,604 shares of the company’s stock, valued at approximately $9,781,200. The trade was a 54.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.21% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Principal Financial Group Inc. boosted its holdings in shares of Automatic Data Processing by 4.5% in the 3rd quarter. Principal Financial Group Inc. now owns 529,690 shares of the business services provider’s stock valued at $146,581,000 after buying an additional 22,766 shares during the last quarter. Fidelity D & D Bancorp Inc. lifted its stake in Automatic Data Processing by 1.4% in the third quarter. Fidelity D & D Bancorp Inc. now owns 3,796 shares of the business services provider’s stock valued at $1,050,000 after acquiring an additional 52 shares during the last quarter. Garde Capital Inc. grew its position in shares of Automatic Data Processing by 6.6% in the 3rd quarter. Garde Capital Inc. now owns 955 shares of the business services provider’s stock valued at $264,000 after acquiring an additional 59 shares during the period. Franklin Resources Inc. increased its stake in shares of Automatic Data Processing by 8.4% during the 3rd quarter. Franklin Resources Inc. now owns 667,068 shares of the business services provider’s stock worth $194,117,000 after purchasing an additional 51,828 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB raised its holdings in shares of Automatic Data Processing by 220.4% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 46,379 shares of the business services provider’s stock valued at $12,834,000 after purchasing an additional 31,904 shares during the period. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Stock Performance

Shares of Automatic Data Processing stock opened at $294.02 on Thursday. The firm has a fifty day moving average of $297.74 and a two-hundred day moving average of $273.51. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a market capitalization of $119.80 billion, a price-to-earnings ratio of 31.38, a PEG ratio of 3.50 and a beta of 0.79. Automatic Data Processing has a 52 week low of $227.12 and a 52 week high of $309.63.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.33 EPS for the quarter, topping analysts’ consensus estimates of $2.21 by $0.12. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. The business had revenue of $4.83 billion during the quarter, compared to analysts’ expectations of $4.77 billion. During the same period in the previous year, the firm earned $2.08 earnings per share. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. As a group, equities research analysts predict that Automatic Data Processing will post 9.93 EPS for the current year.

Automatic Data Processing Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 13th will be issued a dividend of $1.54 per share. The ex-dividend date of this dividend is Friday, December 13th. This is an increase from Automatic Data Processing’s previous quarterly dividend of $1.40. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.10%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 65.74%.

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.