Automatic Data Processing (NASDAQ:ADP) Lowered to Hold at StockNews.com

StockNews.com cut shares of Automatic Data Processing (NASDAQ:ADP) from a buy rating to a hold rating in a research report released on Monday morning.

Other research analysts have also issued reports about the stock. Mizuho raised their price objective on shares of Automatic Data Processing from $265.00 to $272.00 and gave the company a buy rating in a research note on Monday, March 11th. Evercore ISI raised their price target on shares of Automatic Data Processing from $227.00 to $235.00 and gave the company an underperform rating in a research report on Tuesday, March 26th. Barclays raised their price target on shares of Automatic Data Processing from $280.00 to $282.00 and gave the company an overweight rating in a research report on Thursday, May 2nd. JPMorgan Chase & Co. dropped their price target on shares of Automatic Data Processing from $254.00 to $250.00 and set an underweight rating on the stock in a research report on Thursday, May 2nd. Finally, TD Cowen dropped their price target on shares of Automatic Data Processing from $253.00 to $251.00 and set a hold rating on the stock in a research report on Thursday, May 2nd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of $255.42.

Automatic Data Processing Stock Down 2.2 %

Automatic Data Processing stock opened at $246.87 on Monday. Automatic Data Processing has a 1-year low of $205.53 and a 1-year high of $256.84. The firm has a market capitalization of $101.04 billion, a price-to-earnings ratio of 27.55, a price-to-earnings-growth ratio of 2.77 and a beta of 0.78. The firm’s fifty day moving average price is $245.94 and its two-hundred day moving average price is $242.64. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.65.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, May 1st. The business services provider reported $2.88 earnings per share for the quarter, beating analysts’ consensus estimates of $2.79 by $0.09. Automatic Data Processing had a net margin of 19.56% and a return on equity of 93.09%. The firm had revenue of $5.30 billion for the quarter, compared to analyst estimates of $5.22 billion. During the same period last year, the firm earned $2.52 earnings per share. The business’s quarterly revenue was up 7.6% compared to the same quarter last year. On average, equities research analysts predict that Automatic Data Processing will post 9.17 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be issued a dividend of $1.40 per share. The ex-dividend date is Friday, June 14th. This represents a $5.60 dividend on an annualized basis and a yield of 2.27%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 62.50%.

Hedge Funds Weigh In On Automatic Data Processing

Large investors have recently modified their holdings of the business. Keener Financial Planning LLC increased its stake in shares of Automatic Data Processing by 230.3% in the first quarter. Keener Financial Planning LLC now owns 109 shares of the business services provider’s stock worth $28,000 after purchasing an additional 76 shares in the last quarter. Crewe Advisors LLC purchased a new position in shares of Automatic Data Processing in the first quarter worth about $33,000. Pathway Financial Advisers LLC purchased a new position in shares of Automatic Data Processing in the first quarter worth about $36,000. Fortitude Family Office LLC purchased a new position in shares of Automatic Data Processing in the fourth quarter worth about $35,000. Finally, Pineridge Advisors LLC purchased a new position in shares of Automatic Data Processing in the fourth quarter worth about $39,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

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.