Automatic Data Processing, Inc. (NASDAQ:ADP) Receives $267.83 Average Price Target from Analysts

Automatic Data Processing, Inc. (NASDAQ:ADP) has been assigned an average rating of “Hold” from the thirteen research firms that are covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $267.83.

ADP has been the subject of a number of recent research reports. Jefferies Financial Group increased their price objective on shares of Automatic Data Processing from $250.00 to $260.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. Barclays increased their price objective on shares of Automatic Data Processing from $282.00 to $310.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Royal Bank of Canada restated a “sector perform” rating and issued a $267.00 price objective on shares of Automatic Data Processing in a research note on Thursday, August 1st. Finally, Citigroup increased their target price on shares of Automatic Data Processing from $260.00 to $295.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th.

Insider Buying and Selling

In related news, VP Michael A. Bonarti sold 26,442 shares of Automatic Data Processing stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $270.96, for a total transaction of $7,164,724.32. Following the transaction, the vice president now owns 88,426 shares of the company’s stock, valued at $23,959,908.96. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Automatic Data Processing news, CEO Maria Black sold 19,147 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $274.38, for a total transaction of $5,253,553.86. Following the sale, the chief executive officer now directly owns 92,807 shares in the company, valued at approximately $25,464,384.66. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Michael A. Bonarti sold 26,442 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $270.96, for a total transaction of $7,164,724.32. Following the sale, the vice president now owns 88,426 shares in the company, valued at $23,959,908.96. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 58,817 shares of company stock valued at $15,999,208 in the last 90 days. 0.26% of the stock is owned by insiders.

Institutional Trading of Automatic Data Processing

Several hedge funds have recently bought and sold shares of ADP. Kiely Wealth Advisory Group Inc. acquired a new position in Automatic Data Processing during the second quarter worth $27,000. Keener Financial Planning LLC raised 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 in the last quarter. Crewe Advisors LLC acquired a new position in Automatic Data Processing during the first quarter worth about $33,000. Pathway Financial Advisers LLC acquired a new position in shares of Automatic Data Processing in the first quarter valued at approximately $36,000. Finally, Pineridge Advisors LLC acquired a new position in shares of Automatic Data Processing in the fourth quarter valued at approximately $39,000. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Automatic Data Processing Stock Performance

ADP stock opened at $282.12 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $115.47 billion, a price-to-earnings ratio of 31.47, a P/E/G ratio of 3.02 and a beta of 0.79. Automatic Data Processing has a 12 month low of $205.53 and a 12 month high of $286.30. The firm has a 50 day moving average of $270.94 and a two-hundred day moving average of $254.06.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, July 31st. The business services provider reported $2.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.06 by $0.03. Automatic Data Processing had a net margin of 19.54% and a return on equity of 89.20%. The business had revenue of $4.80 billion during the quarter, compared to the consensus estimate of $4.74 billion. During the same period in the prior year, the firm earned $1.89 EPS. Automatic Data Processing’s quarterly revenue was up 7.2% compared to the same quarter last year. As a group, equities analysts anticipate that Automatic Data Processing will post 10.04 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were paid a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 1.98%. The ex-dividend date was Friday, September 13th. Automatic Data Processing’s payout ratio is 62.50%.

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.