Automatic Data Processing, Inc. (NASDAQ:ADP – Get Rating) declared a quarterly dividend on Wednesday, April 6th, RTT News reports. Shareholders of record on Friday, June 10th will be given a dividend of 1.04 per share by the business services provider on Friday, July 1st. This represents a $4.16 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date is Thursday, June 9th.
Automatic Data Processing has increased its dividend payment by an average of 11.0% annually over the last three years and has increased its dividend annually for the last 47 consecutive years. Automatic Data Processing has a payout ratio of 53.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Automatic Data Processing to earn $7.75 per share next year, which means the company should continue to be able to cover its $4.16 annual dividend with an expected future payout ratio of 53.7%.
Shares of NASDAQ:ADP opened at $219.51 on Tuesday. Automatic Data Processing has a 1-year low of $192.18 and a 1-year high of $248.96. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.01 and a quick ratio of 1.01. The business has a fifty day moving average price of $222.73 and a 200-day moving average price of $221.47. The company has a market capitalization of $91.70 billion, a PE ratio of 32.42, a PEG ratio of 2.64 and a beta of 0.82.
ADP has been the topic of a number of analyst reports. Mizuho lifted their price objective on Automatic Data Processing from $235.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, May 2nd. Citigroup boosted their price target on Automatic Data Processing from $212.00 to $230.00 in a report on Monday, May 2nd. Bank of America raised Automatic Data Processing from an “underperform” rating to a “neutral” rating and set a $223.00 price target on the stock in a report on Wednesday, March 9th. StockNews.com began coverage on Automatic Data Processing in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Automatic Data Processing from $203.00 to $234.00 in a report on Thursday, April 28th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $231.43.
In other news, VP Christopher D’ambrosio sold 312 shares of Automatic Data Processing stock in a transaction that occurred on Monday, May 9th. The shares were sold at an average price of $214.07, for a total value of $66,789.84. Following the transaction, the vice president now owns 1,663 shares of the company’s stock, valued at approximately $355,998.41. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Deborah L. Dyson sold 2,787 shares of Automatic Data Processing stock in a transaction that occurred on Tuesday, April 5th. The stock was sold at an average price of $234.55, for a total transaction of $653,690.85. Following the completion of the transaction, the vice president now directly owns 26,663 shares in the company, valued at approximately $6,253,806.65. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. lifted its stake in Automatic Data Processing by 7.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 6,689,136 shares of the business services provider’s stock valued at $1,522,047,000 after acquiring an additional 461,438 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Automatic Data Processing by 15.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,955,192 shares of the business services provider’s stock valued at $444,883,000 after purchasing an additional 261,716 shares in the last quarter. Federated Hermes Inc. boosted its holdings in Automatic Data Processing by 758.4% in the 1st quarter. Federated Hermes Inc. now owns 127,710 shares of the business services provider’s stock worth $29,060,000 after buying an additional 112,832 shares during the last quarter. Worldquant Millennium Advisors LLC acquired a new stake in Automatic Data Processing in the 1st quarter worth about $8,856,000. Finally, Bridgewater Associates LP boosted its holdings in Automatic Data Processing by 55.9% in the 1st quarter. Bridgewater Associates LP now owns 78,065 shares of the business services provider’s stock worth $17,763,000 after buying an additional 27,999 shares during the last quarter. 78.84% of the stock is currently owned by institutional investors.
Automatic Data Processing Company Profile (Get Rating)
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.
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