Automatic Data Processing (NASDAQ:ADP) Price Target Raised to $236.00 at Cowen

Automatic Data Processing (NASDAQ:ADPGet Rating) had its price target boosted by Cowen from $230.00 to $236.00 in a research report report published on Tuesday morning, The Fly reports.

Several other research analysts have also issued reports on the company. Barclays increased their price target on Automatic Data Processing to $280.00 in a report on Tuesday, August 9th. Cowen raised their target price on Automatic Data Processing from $225.00 to $230.00 in a research report on Thursday, July 28th. Mizuho lifted their price target on Automatic Data Processing from $250.00 to $257.00 and gave the company a buy rating in a research report on Monday, August 1st. Wolfe Research reduced their price target on Automatic Data Processing from $235.00 to $210.00 in a research report on Wednesday, July 20th. Finally, Morgan Stanley boosted their target price on Automatic Data Processing from $235.00 to $245.00 and gave the stock an equal weight rating in a research report on Thursday, July 28th. Nine analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of Hold and an average target price of $236.85.

Automatic Data Processing Trading Down 0.9 %

NASDAQ ADP opened at $233.54 on Tuesday. The stock has a market capitalization of $97.04 billion, a price-to-earnings ratio of 33.63, a PEG ratio of 2.42 and a beta of 0.82. Automatic Data Processing has a 52 week low of $192.26 and a 52 week high of $261.59. The stock’s 50 day moving average price is $239.59 and its two-hundred day moving average price is $225.47. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.99 and a current ratio of 0.99.

Automatic Data Processing (NASDAQ:ADPGet Rating) last issued its quarterly earnings data on Wednesday, July 27th. The business services provider reported $1.50 EPS for the quarter, beating analysts’ consensus estimates of $1.48 by $0.02. The firm had revenue of $4.13 billion for the quarter, compared to analyst estimates of $4.05 billion. Automatic Data Processing had a return on equity of 66.25% and a net margin of 17.87%. The company’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.20 EPS. As a group, analysts anticipate that Automatic Data Processing will post 8.05 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Saturday, October 1st. Shareholders of record on Friday, September 9th will be issued a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 1.78%. The ex-dividend date of this dividend is Thursday, September 8th. Automatic Data Processing’s dividend payout ratio is currently 59.34%.

Insider Activity

In other Automatic Data Processing news, VP Christopher D’ambrosio sold 174 shares of the company’s stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $236.69, for a total value of $41,184.06. Following the completion of the transaction, the vice president now owns 3,157 shares in the company, valued at $747,230.33. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CEO Carlos A. Rodriguez sold 58,864 shares of the company’s stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of $236.69, for a total value of $13,932,520.16. Following the transaction, the chief executive officer now directly owns 44,426 shares in the company, valued at approximately $10,515,189.94. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Christopher D’ambrosio sold 174 shares of the company’s stock in a transaction that occurred on Thursday, September 8th. The stock was sold at an average price of $236.69, for a total transaction of $41,184.06. Following the completion of the transaction, the vice president now owns 3,157 shares in the company, valued at $747,230.33. The disclosure for this sale can be found here. Insiders have sold 107,349 shares of company stock valued at $25,576,129 over the last ninety days. 0.34% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Norges Bank acquired a new stake in shares of Automatic Data Processing in the fourth quarter valued at about $566,438,000. BlackRock Inc. grew its holdings in shares of Automatic Data Processing by 5.1% during the first quarter. BlackRock Inc. now owns 33,637,473 shares of the business services provider’s stock worth $7,653,871,000 after buying an additional 1,642,852 shares in the last quarter. Aaron Wealth Advisors LLC grew its holdings in Automatic Data Processing by 23,114.1% in the first quarter. Aaron Wealth Advisors LLC now owns 1,481,057 shares of the business services provider’s stock valued at $6,509,000 after purchasing an additional 1,474,677 shares during the period. Mackenzie Financial Corp grew its holdings in Automatic Data Processing by 1,386.1% in the fourth quarter. Mackenzie Financial Corp now owns 1,531,541 shares of the business services provider’s stock valued at $377,647,000 after purchasing an additional 1,428,484 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its stake in Automatic Data Processing by 62.5% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,127,240 shares of the business services provider’s stock worth $446,805,000 after buying an additional 817,989 shares during the period. 79.06% of the stock is owned by hedge funds and other institutional investors.

About Automatic Data Processing

(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.

Read More

The Fly logo

Analyst Recommendations for Automatic Data Processing (NASDAQ:ADP)

Receive News & Ratings for Automatic Data Processing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Automatic Data Processing and related companies with MarketBeat.com's FREE daily email newsletter.