Automatic Data Processing (NASDAQ:ADP) PT Raised to $295.00

Automatic Data Processing (NASDAQ:ADP) had its price target hoisted by Citigroup from $260.00 to $295.00 in a research report released on Wednesday, MarketBeat Ratings reports. Citigroup currently has a neutral rating on the business services provider’s stock.

ADP has been the topic of several other reports. Barclays lifted their target price on Automatic Data Processing from $282.00 to $310.00 and gave the stock an overweight rating in a report on Monday, August 5th. Bank of America lifted their target price on Automatic Data Processing from $250.00 to $267.00 and gave the stock a neutral rating in a report on Thursday, August 1st. JPMorgan Chase & Co. lifted their price objective on Automatic Data Processing from $250.00 to $285.00 and gave the stock an underweight rating in a research report on Tuesday, August 20th. Stifel Nicolaus lifted their price objective on Automatic Data Processing from $271.00 to $287.00 and gave the stock a hold rating in a research report on Thursday, August 1st. Finally, Jefferies Financial Group lifted their price objective on Automatic Data Processing from $250.00 to $260.00 and gave the stock a hold rating in a research report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Automatic Data Processing currently has an average rating of Hold and a consensus price target of $267.83.

Automatic Data Processing Trading Down 0.6 %

NASDAQ ADP opened at $272.88 on Wednesday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.66. Automatic Data Processing has a twelve month low of $205.53 and a twelve month high of $281.54. The company has a market cap of $111.69 billion, a price-to-earnings ratio of 30.46, a price-to-earnings-growth ratio of 3.02 and a beta of 0.79. The business’s fifty day moving average is $267.13 and its 200 day moving average is $252.40.

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

Automatic Data Processing Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be given a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date of this dividend is Friday, September 13th. Automatic Data Processing’s payout ratio is 62.50%.

Insider Activity at Automatic Data Processing

In other Automatic Data Processing news, VP David Kwon sold 846 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $270.60, for a total transaction of $228,927.60. Following the completion of the sale, the vice president now directly owns 10,410 shares of the company’s stock, valued at approximately $2,816,946. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Automatic Data Processing news, VP Don Mcguire sold 3,179 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $274.38, for a total transaction of $872,254.02. Following the sale, the vice president now owns 41,696 shares of the company’s stock, valued at approximately $11,440,548.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP David Kwon sold 846 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $270.60, for a total transaction of $228,927.60. Following the sale, the vice president now directly owns 10,410 shares in the company, valued at approximately $2,816,946. The disclosure for this sale can be found here. Insiders sold 58,817 shares of company stock valued at $15,999,208 in the last three months. Corporate insiders own 0.26% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Moors & Cabot Inc. raised its stake in Automatic Data Processing by 0.7% during the second quarter. Moors & Cabot Inc. now owns 5,698 shares of the business services provider’s stock worth $1,360,000 after purchasing an additional 39 shares during the period. Schmidt P J Investment Management Inc. boosted its stake in Automatic Data Processing by 0.4% during the 2nd quarter. Schmidt P J Investment Management Inc. now owns 9,645 shares of the business services provider’s stock worth $2,302,000 after purchasing an additional 40 shares during the period. Confluence Wealth Services Inc. boosted its stake in Automatic Data Processing by 5.0% during the 2nd quarter. Confluence Wealth Services Inc. now owns 863 shares of the business services provider’s stock worth $206,000 after purchasing an additional 41 shares during the period. Prestige Wealth Management Group LLC boosted its stake in Automatic Data Processing by 0.8% during the 1st quarter. Prestige Wealth Management Group LLC now owns 5,581 shares of the business services provider’s stock worth $1,402,000 after purchasing an additional 43 shares during the period. Finally, Legacy Financial Advisors Inc. raised its position in Automatic Data Processing by 1.3% during the 2nd quarter. Legacy Financial Advisors Inc. now owns 3,471 shares of the business services provider’s stock worth $828,000 after buying an additional 43 shares during the last quarter. Institutional investors own 80.03% of the company’s stock.

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.