Automatic Data Processing (NASDAQ:ADP) Price Target Raised to $310.00

Automatic Data Processing (NASDAQ:ADP) had its price objective increased by Morgan Stanley from $305.00 to $310.00 in a report released on Tuesday,Benzinga reports. They currently have an equal weight rating on the business services provider’s stock.

Other equities analysts have also issued research reports about the stock. UBS Group dropped their target price on shares of Automatic Data Processing from $323.00 to $315.00 and set a “neutral” rating on the stock in a research report on Friday, June 13th. Mizuho boosted their target price on shares of Automatic Data Processing from $321.00 to $332.00 and gave the stock an “outperform” rating in a research report on Friday, June 13th. TD Securities boosted their target price on shares of Automatic Data Processing from $298.00 to $321.00 and gave the stock a “hold” rating in a research report on Wednesday, May 21st. Stifel Nicolaus boosted their price target on shares of Automatic Data Processing to $305.00 and gave the company a “buy” rating in a report on Friday, May 2nd. Finally, Royal Bank Of Canada reissued a “sector perform” rating and issued a $315.00 price target on shares of Automatic Data Processing in a report on Thursday, June 5th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $307.08.

Automatic Data Processing Trading Down 0.3%

Shares of ADP stock opened at $306.77 on Tuesday. Automatic Data Processing has a 1 year low of $231.27 and a 1 year high of $329.93. The firm’s fifty day simple moving average is $309.48 and its 200 day simple moving average is $302.93. The firm has a market capitalization of $124.52 billion, a P/E ratio of 31.40, a price-to-earnings-growth ratio of 3.18 and a beta of 0.79. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.51.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, April 30th. The business services provider reported $3.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.97 by $0.09. Automatic Data Processing had a net margin of 19.79% and a return on equity of 77.33%. The business had revenue of $5.55 billion for the quarter, compared to analyst estimates of $5.49 billion. During the same quarter in the previous year, the firm posted $2.88 earnings per share. Automatic Data Processing’s revenue was up 5.7% compared to the same quarter last year. As a group, sell-side analysts predict that Automatic Data Processing will post 9.93 EPS for the current year.

Automatic Data Processing Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be paid a $1.54 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $6.16 annualized dividend and a dividend yield of 2.01%. Automatic Data Processing’s dividend payout ratio is presently 63.05%.

Insider Activity

In other Automatic Data Processing news, VP Christopher D’ambrosio sold 478 shares of the stock in a transaction dated Thursday, April 10th. The shares were sold at an average price of $293.14, for a total transaction of $140,120.92. Following the sale, the vice president now owns 7,364 shares of the company’s stock, valued at $2,158,682.96. This represents a 6.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Brian L. Michaud sold 1,500 shares of the stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $305.38, for a total transaction of $458,070.00. Following the sale, the vice president now directly owns 12,073 shares in the company, valued at approximately $3,686,852.74. This represents a 11.05% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Toronto Dominion Bank boosted its stake in shares of Automatic Data Processing by 10.2% in the 4th quarter. Toronto Dominion Bank now owns 236,707 shares of the business services provider’s stock valued at $69,290,000 after purchasing an additional 21,910 shares during the last quarter. Proficio Capital Partners LLC boosted its stake in shares of Automatic Data Processing by 42.8% in the 4th quarter. Proficio Capital Partners LLC now owns 3,725 shares of the business services provider’s stock valued at $1,090,000 after purchasing an additional 1,117 shares during the last quarter. Napatree Capital LLC boosted its stake in shares of Automatic Data Processing by 2.7% in the 4th quarter. Napatree Capital LLC now owns 3,199 shares of the business services provider’s stock valued at $936,000 after purchasing an additional 84 shares during the last quarter. Venturi Wealth Management LLC boosted its stake in shares of Automatic Data Processing by 16.1% in the 4th quarter. Venturi Wealth Management LLC now owns 7,890 shares of the business services provider’s stock valued at $2,310,000 after purchasing an additional 1,092 shares during the last quarter. Finally, Brighton Jones LLC raised its position in shares of Automatic Data Processing by 92.1% in the 4th quarter. Brighton Jones LLC now owns 10,026 shares of the business services provider’s stock valued at $2,935,000 after acquiring an additional 4,808 shares during the period. Institutional investors own 80.03% of the company’s stock.

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.