Analysts Set Automatic Data Processing, Inc. (NASDAQ:ADP) Price Target at $254.58

Automatic Data Processing, Inc. (NASDAQ:ADP) has received a consensus rating of “Hold” from the ten ratings firms that are presently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $254.58.

A number of research analysts have weighed in on ADP shares. 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. Royal Bank of Canada reissued a “sector perform” rating and set a $267.00 price target on shares of Automatic Data Processing in a research report on Thursday, February 1st. 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. Wolfe Research raised shares of Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a research report on Thursday, January 4th. Finally, Bank of America raised shares of Automatic Data Processing from an “underperform” rating to a “neutral” rating and raised their price target for the company from $217.00 to $243.00 in a research report on Wednesday, January 17th.

Automatic Data Processing Stock Up 0.5 %

Automatic Data Processing stock opened at $243.31 on Friday. Automatic Data Processing has a 1-year low of $201.46 and a 1-year high of $256.84. The firm has a market capitalization of $99.95 billion, a price-to-earnings ratio of 28.32, a price-to-earnings-growth ratio of 2.28 and a beta of 0.78. The firm’s fifty day moving average price is $247.22 and its two-hundred day moving average price is $239.23. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.69.

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

Automatic Data Processing Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be paid a $1.40 dividend. The ex-dividend date is Friday, June 14th. This represents a $5.60 annualized dividend and a dividend yield of 2.30%. Automatic Data Processing’s payout ratio is 65.19%.

Insider Transactions at Automatic Data Processing

In other news, VP Joseph Desilva sold 1,904 shares of Automatic Data Processing stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $255.00, for a total value of $485,520.00. Following the completion of the transaction, the vice president now owns 17,179 shares in the company, valued at $4,380,645. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Sreenivasa Kutam sold 368 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $247.01, for a total transaction of $90,899.68. Following the completion of the transaction, the vice president now owns 20,319 shares of the company’s stock, valued at $5,018,996.19. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Joseph Desilva sold 1,904 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $255.00, for a total transaction of $485,520.00. Following the transaction, the vice president now directly owns 17,179 shares of the company’s stock, valued at approximately $4,380,645. The disclosure for this sale can be found here. Insiders sold 15,162 shares of company stock worth $3,741,859 over the last quarter. Corporate insiders own 0.26% of the company’s stock.

Institutional Investors Weigh In On Automatic Data Processing

Several hedge funds have recently bought and sold shares of ADP. Sei Investments Co. lifted its holdings in shares of Automatic Data Processing by 19.3% in the 1st quarter. Sei Investments Co. now owns 134,223 shares of the business services provider’s stock worth $30,532,000 after acquiring an additional 21,671 shares during the last quarter. Dakota Wealth Management bought a new stake in shares of Automatic Data Processing in the 1st quarter worth approximately $571,000. Zions Bancorporation N.A. lifted its holdings in shares of Automatic Data Processing by 12.4% in the 1st quarter. Zions Bancorporation N.A. now owns 453 shares of the business services provider’s stock worth $103,000 after acquiring an additional 50 shares during the last quarter. Covestor Ltd lifted its holdings in shares of Automatic Data Processing by 82.8% in the 1st quarter. Covestor Ltd now owns 636 shares of the business services provider’s stock worth $145,000 after acquiring an additional 288 shares during the last quarter. Finally, Merit Financial Group LLC lifted its holdings in shares of Automatic Data Processing by 4.4% in the 1st quarter. Merit Financial Group LLC now owns 2,902 shares of the business services provider’s stock worth $660,000 after acquiring an additional 121 shares during the last quarter. 80.03% of the stock is currently owned by institutional investors.

About Automatic Data Processing

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.