Automatic Data Processing (ADP) Rating Increased to Buy at BidaskClub

BidaskClub upgraded shares of Automatic Data Processing (NYSE:ADP) from a hold rating to a buy rating in a research note issued to investors on Saturday.

ADP has been the subject of several other reports. Argus cut their target price on shares of Automatic Data Processing from $118.00 to $101.50 and set a buy rating for the company in a research note on Wednesday, May 31st. Deutsche Bank AG reaffirmed a hold rating and set a $102.00 target price on shares of Automatic Data Processing in a research note on Monday, August 21st. Zacks Investment Research cut shares of Automatic Data Processing from a hold rating to a sell rating in a research note on Tuesday, July 4th. Evercore ISI reaffirmed an in-line rating and set a $115.00 target price on shares of Automatic Data Processing in a research note on Sunday, August 20th. Finally, Robert W. Baird reaffirmed a neutral rating and set a $95.00 target price on shares of Automatic Data Processing in a research note on Sunday, July 30th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $107.81.

Automatic Data Processing (NYSE ADP) opened at 107.92 on Friday. The stock has a market capitalization of $47.96 billion and a price-to-earnings ratio of 28.03. Automatic Data Processing has a 12 month low of $85.48 and a 12 month high of $121.77. The company has a 50-day moving average of $108.50 and a 200 day moving average of $103.70.

Automatic Data Processing (NYSE:ADP) last posted its earnings results on Thursday, July 27th. The business services provider reported $0.65 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.67 by ($0.02). The company had revenue of $3.06 billion for the quarter, compared to analysts’ expectations of $3.04 billion. Automatic Data Processing had a net margin of 8.67% and a return on equity of 26.39%. The business’s revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.69 earnings per share. On average, equities research analysts anticipate that Automatic Data Processing will post $3.81 earnings per share for the current fiscal year.

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The company also recently declared a quarterly dividend, which will be paid on Sunday, October 1st. Investors of record on Friday, September 8th will be paid a dividend of $0.57 per share. The ex-dividend date is Thursday, September 7th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.11%.

In related news, VP Maria Black sold 631 shares of Automatic Data Processing stock in a transaction dated Saturday, September 2nd. The shares were sold at an average price of $106.64, for a total transaction of $67,289.84. Following the completion of the transaction, the vice president now directly owns 10,550 shares of the company’s stock, valued at approximately $1,125,052. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Brock Albinson sold 3,663 shares of Automatic Data Processing stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $106.54, for a total transaction of $390,256.02. Following the transaction, the vice president now directly owns 6,287 shares of the company’s stock, valued at $669,816.98. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 45,522 shares of company stock valued at $4,953,609.

Several hedge funds have recently added to or reduced their stakes in the stock. Goelzer Investment Management Inc. boosted its stake in shares of Automatic Data Processing by 0.3% during the 1st quarter. Goelzer Investment Management Inc. now owns 4,239 shares of the business services provider’s stock worth $434,000 after purchasing an additional 12 shares during the period. Guardian Life Insurance Co. of America boosted its stake in shares of Automatic Data Processing by 0.7% during the 1st quarter. Guardian Life Insurance Co. of America now owns 1,740 shares of the business services provider’s stock worth $178,000 after purchasing an additional 12 shares during the period. Washington Trust Bank boosted its stake in shares of Automatic Data Processing by 0.4% during the 2nd quarter. Washington Trust Bank now owns 3,392 shares of the business services provider’s stock worth $348,000 after purchasing an additional 12 shares during the period. Flagship Harbor Advisors LLC boosted its stake in shares of Automatic Data Processing by 0.6% during the 1st quarter. Flagship Harbor Advisors LLC now owns 2,778 shares of the business services provider’s stock worth $282,000 after purchasing an additional 16 shares during the period. Finally, Personal Capital Advisors Corp boosted its stake in shares of Automatic Data Processing by 0.7% during the 2nd quarter. Personal Capital Advisors Corp now owns 2,371 shares of the business services provider’s stock worth $243,000 after purchasing an additional 16 shares during the period.

About Automatic Data Processing

Automatic Data Processing, Inc (ADP) is a provider of human capital management (HCM) solutions to employers, offering solutions to businesses of various sizes. The Company also provides business process outsourcing solutions. Its segments include Employer Services and Professional Employer Organization (PEO) Services.

Analyst Recommendations for Automatic Data Processing (NYSE:ADP)

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