Automatic Data Processing (NASDAQ:ADP) Price Target Increased to $282.00 by Analysts at Barclays

Automatic Data Processing (NASDAQ:ADP) had its price objective upped by Barclays from $280.00 to $282.00 in a research report report published on Thursday, Benzinga reports. They currently have an overweight rating on the business services provider’s stock.

Other equities research analysts have also issued research reports about the stock. Wolfe Research raised shares of Automatic Data Processing from an underperform rating to a peer perform rating in a report on Thursday, January 4th. Mizuho boosted their price target on shares of Automatic Data Processing from $265.00 to $272.00 and gave the company a buy rating in a research report on Monday, March 11th. Royal Bank of Canada reaffirmed a sector perform rating and set a $267.00 price objective on shares of Automatic Data Processing in a report on Thursday, February 1st. Evercore ISI boosted their target price on Automatic Data Processing from $227.00 to $235.00 and gave the stock an underperform rating in a report on Tuesday, March 26th. Finally, Bank of America upgraded Automatic Data Processing from an underperform rating to a neutral rating and increased their price target for the stock from $217.00 to $243.00 in a research report on Wednesday, January 17th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Automatic Data Processing has an average rating of Hold and an average price target of $255.42.

Automatic Data Processing Stock Down 0.1 %

Shares of ADP opened at $241.89 on Thursday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.65. The company has a 50-day moving average price of $245.63 and a two-hundred day moving average price of $238.95. The stock has a market cap of $99.37 billion, a price-to-earnings ratio of 27.00, a P/E/G ratio of 2.27 and a beta of 0.78. Automatic Data Processing has a 12 month low of $205.53 and a 12 month high of $256.84.

Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Wednesday, May 1st. The business services provider reported $2.88 EPS for the quarter, topping the consensus estimate of $2.79 by $0.09. Automatic Data Processing had a return on equity of 93.09% and a net margin of 19.56%. The business had revenue of $5.30 billion during the quarter, compared to the consensus estimate of $5.22 billion. During the same quarter last year, the company earned $2.52 EPS. Automatic Data Processing’s revenue was up 7.6% on a year-over-year basis. Equities analysts predict that Automatic Data Processing will post 9.15 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The company 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 of this dividend is Friday, June 14th. This represents a $5.60 annualized dividend and a dividend yield of 2.32%. Automatic Data Processing’s dividend payout ratio (DPR) is currently 62.50%.

Insider Transactions at Automatic Data Processing

In other Automatic Data Processing news, VP Sreenivasa Kutam sold 368 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $247.01, for a total transaction of $90,899.68. Following the transaction, the vice president now directly owns 20,319 shares in the company, valued at approximately $5,018,996.19. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Automatic Data Processing news, VP Sreenivasa Kutam sold 368 shares of Automatic Data Processing stock in a transaction 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 sale, the vice president now owns 20,319 shares of the company’s stock, valued at approximately $5,018,996.19. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Joseph Desilva sold 1,904 shares of the stock in a transaction on 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 directly owns 17,179 shares in the company, valued at approximately $4,380,645. The disclosure for this sale can be found here. Insiders sold a total of 3,829 shares of company stock worth $965,274 over the last 90 days. 0.26% of the stock is owned by insiders.

Hedge Funds Weigh In On Automatic Data Processing

Several institutional investors have recently modified their holdings of ADP. Keener Financial Planning LLC lifted its holdings in Automatic Data Processing by 230.3% during the first quarter. Keener Financial Planning LLC now owns 109 shares of the business services provider’s stock worth $28,000 after acquiring an additional 76 shares in the last quarter. OFI Invest Asset Management acquired a new stake in shares of Automatic Data Processing during the third quarter worth about $25,000. Fortitude Family Office LLC acquired a new stake in shares of Automatic Data Processing during the fourth quarter worth about $35,000. Pineridge Advisors LLC bought a new position in shares of Automatic Data Processing during the 4th quarter valued at about $39,000. Finally, Raleigh Capital Management Inc. grew its position in shares of Automatic Data Processing by 106.0% in the 3rd quarter. Raleigh Capital Management Inc. now owns 173 shares of the business services provider’s stock valued at $42,000 after purchasing an additional 89 shares during the period. 80.03% of the stock is currently owned by institutional investors and hedge funds.

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.