Automatic Data Processing (NASDAQ:ADP) Raised to Buy at StockNews.com

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

Several other research firms have also recently issued reports on ADP. JPMorgan Chase & Co. cut their target price on Automatic Data Processing from $254.00 to $250.00 and set an underweight rating for the company in a research report on Thursday, May 2nd. TD Cowen lowered their target price on Automatic Data Processing from $253.00 to $251.00 and set a hold rating for the company in a report on Thursday, May 2nd. Mizuho upped their price objective on Automatic Data Processing from $265.00 to $272.00 and gave the stock a buy rating in a research note on Monday, March 11th. Barclays upped their target price on Automatic Data Processing from $280.00 to $282.00 and gave the company an overweight rating in a research report on Thursday, May 2nd. Finally, Evercore ISI increased their price objective on Automatic Data Processing from $227.00 to $235.00 and gave the company an underperform rating in a report on Tuesday, March 26th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Automatic Data Processing has a consensus rating of Hold and an average price target of $255.42.

Automatic Data Processing Trading Down 0.2 %

Automatic Data Processing stock opened at $244.41 on Tuesday. The company has a market capitalization of $100.03 billion, a price-to-earnings ratio of 27.28, a price-to-earnings-growth ratio of 2.67 and a beta of 0.78. 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 has a 12 month low of $205.53 and a 12 month high of $256.84. The business’s fifty day simple moving average is $245.80 and its two-hundred day simple moving average is $243.27.

Automatic Data Processing (NASDAQ:ADP) last posted its earnings results 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. The company had revenue of $5.30 billion for the quarter, compared to the consensus estimate of $5.22 billion. Automatic Data Processing had a return on equity of 93.09% and a net margin of 19.56%. Automatic Data Processing’s revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.52 earnings per share. As a group, equities analysts predict that Automatic Data Processing will post 9.17 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be given a dividend of $1.40 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $5.60 dividend on an annualized basis and a yield of 2.29%. Automatic Data Processing’s dividend payout ratio is currently 62.50%.

Hedge Funds Weigh In On Automatic Data Processing

Several hedge funds and other institutional investors have recently made changes to their positions in ADP. Keener Financial Planning LLC increased its stake in Automatic Data Processing by 230.3% during the first quarter. Keener Financial Planning LLC now owns 109 shares of the business services provider’s stock worth $28,000 after acquiring an additional 76 shares during the last quarter. Crewe Advisors LLC acquired a new stake in shares of Automatic Data Processing in the first quarter valued at $33,000. Pathway Financial Advisers LLC acquired a new stake in shares of Automatic Data Processing in the first quarter valued at $36,000. Fortitude Family Office LLC acquired a new stake in shares of Automatic Data Processing in the fourth quarter valued at $35,000. Finally, Pineridge Advisors LLC acquired a new stake in shares of Automatic Data Processing in the fourth quarter valued at $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.