Automatic Data Processing (NASDAQ:ADP) PT Raised to $235.00

Automatic Data Processing (NASDAQ:ADP) had its price target boosted by Evercore ISI from $227.00 to $235.00 in a report issued on Tuesday, Benzinga reports. Evercore ISI currently has an underperform rating on the business services provider’s stock.

Several other research firms have also weighed in on ADP. Stifel Nicolaus reaffirmed a hold rating and set a $250.00 target price on shares of Automatic Data Processing in a report on Thursday, November 30th. Wolfe Research raised shares of Automatic Data Processing from an underperform rating to a peer perform rating in a research note on Thursday, January 4th. StockNews.com cut shares of Automatic Data Processing from a buy rating to a hold rating in a research note on Tuesday, March 19th. Bank of America raised shares of Automatic Data Processing from an underperform rating to a neutral rating and lifted their target price for the stock from $217.00 to $243.00 in a research note on Wednesday, January 17th. Finally, Mizuho lifted their target price on shares of Automatic Data Processing from $265.00 to $272.00 and gave the stock a buy rating in a research note on Monday, March 11th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Automatic Data Processing currently has a consensus rating of Hold and an average target price of $253.08.

Automatic Data Processing Stock Performance

ADP opened at $249.74 on Tuesday. Automatic Data Processing has a 12-month low of $201.46 and a 12-month high of $256.84. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $102.59 billion, a PE ratio of 29.07, a P/E/G ratio of 2.33 and a beta of 0.78. The firm has a 50 day moving average of $246.75 and a two-hundred day moving average of $239.05.

Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Wednesday, January 31st. The business services provider reported $2.13 earnings per share for the quarter, beating the consensus estimate of $2.10 by $0.03. The firm had revenue of $4.67 billion during the quarter, compared to analyst estimates of $4.65 billion. Automatic Data Processing had a net margin of 19.14% and a return on equity of 95.22%. The business’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.96 EPS. On average, analysts anticipate that Automatic Data Processing will post 9.14 EPS for the current year.

Automatic Data Processing Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Friday, March 8th will be issued a $1.40 dividend. The ex-dividend date is Thursday, March 7th. This represents a $5.60 annualized dividend and a yield of 2.24%. Automatic Data Processing’s dividend payout ratio (DPR) is currently 65.19%.

Insiders Place Their Bets

In other Automatic Data Processing news, VP David Kwon sold 863 shares of the business’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $250.00, for a total transaction of $215,750.00. Following the sale, the vice president now directly owns 8,285 shares in the company, valued at $2,071,250. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP David Kwon sold 863 shares of the business’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $250.00, for a total transaction of $215,750.00. Following the completion of the transaction, the vice president now directly owns 8,285 shares of the company’s stock, valued at $2,071,250. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Sreenivasa Kutam sold 368 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $247.01, for a total value of $90,899.68. Following the transaction, the vice president now directly owns 20,319 shares of the company’s stock, valued at $5,018,996.19. The disclosure for this sale can be found here. Insiders have sold 16,662 shares of company stock worth $4,094,554 over the last three months. Company insiders own 0.26% of the company’s stock.

Hedge Funds Weigh In On Automatic Data Processing

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. OFI Invest Asset Management acquired a new stake in shares of Automatic Data Processing in the third quarter valued at approximately $25,000. Aspect Partners LLC acquired a new stake in shares of Automatic Data Processing in the fourth quarter valued at approximately $28,000. Coppell Advisory Solutions LLC acquired a new stake in shares of Automatic Data Processing in the second quarter valued at approximately $30,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Automatic Data Processing in the first quarter valued at approximately $31,000. Finally, Coppell Advisory Solutions Corp. acquired a new stake in shares of Automatic Data Processing in the fourth quarter valued at approximately $33,000. 80.03% of the stock is owned by institutional investors and hedge funds.

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.