Brokerages Set Automatic Data Processing, Inc. (NASDAQ:ADP) Price Target at $289.91

Automatic Data Processing, Inc. (NASDAQ:ADP) has been given an average recommendation of “Hold” by the eleven brokerages that are currently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $289.91.

A number of analysts have issued reports on ADP shares. Mizuho raised their price target on Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. Jefferies Financial Group upped their price target on shares of Automatic Data Processing from $260.00 to $290.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. TD Cowen lifted their price target on shares of Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a report on Friday, November 1st. StockNews.com upgraded Automatic Data Processing from a “hold” rating to a “buy” rating in a report on Sunday. Finally, Royal Bank of Canada lifted their target price on Automatic Data Processing from $267.00 to $315.00 and gave the company a “sector perform” rating in a report on Thursday, October 31st.

Automatic Data Processing Trading Down 0.0 %

Shares of Automatic Data Processing stock opened at $296.18 on Monday. Automatic Data Processing has a 1 year low of $231.27 and a 1 year high of $309.63. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.01 and a quick ratio of 1.01. The business has a 50 day moving average price of $297.90 and a 200 day moving average price of $280.29. The company has a market capitalization of $120.68 billion, a P/E ratio of 31.61, a P/E/G ratio of 3.34 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.21 by $0.12. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. The business had revenue of $4.83 billion for the quarter, compared to the consensus estimate of $4.77 billion. During the same period in the prior year, the business earned $2.08 earnings per share. The business’s revenue was up 7.1% on a year-over-year basis. Sell-side analysts anticipate that Automatic Data Processing will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date is Friday, March 14th. Automatic Data Processing’s payout ratio is 65.74%.

Insiders Place Their Bets

In related news, VP Sreenivasa Kutam sold 38,975 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $300.00, for a total value of $11,692,500.00. Following the sale, the vice president now directly owns 32,604 shares of the company’s stock, valued at $9,781,200. This represents a 54.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Maria Black sold 721 shares of the business’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $291.59, for a total transaction of $210,236.39. Following the completion of the sale, the chief executive officer now directly owns 68,856 shares of the company’s stock, valued at $20,077,721.04. The trade was a 1.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 42,129 shares of company stock worth $12,604,872 in the last quarter. 0.21% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in ADP. Federated Hermes Inc. lifted its position in shares of Automatic Data Processing by 0.4% in the 2nd quarter. Federated Hermes Inc. now owns 92,324 shares of the business services provider’s stock worth $22,037,000 after buying an additional 365 shares during the last quarter. Parallel Advisors LLC boosted its stake in Automatic Data Processing by 2.7% in the second quarter. Parallel Advisors LLC now owns 8,071 shares of the business services provider’s stock valued at $1,927,000 after acquiring an additional 216 shares during the period. Thoroughbred Financial Services LLC raised its position in shares of Automatic Data Processing by 34.2% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 8,885 shares of the business services provider’s stock worth $2,120,000 after purchasing an additional 2,265 shares during the period. Wealthspire Advisors LLC lifted its holdings in shares of Automatic Data Processing by 46.0% in the 2nd quarter. Wealthspire Advisors LLC now owns 9,720 shares of the business services provider’s stock worth $2,320,000 after purchasing an additional 3,063 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. increased its position in Automatic Data Processing by 0.8% in the second quarter. Oppenheimer Asset Management Inc. now owns 15,426 shares of the business services provider’s stock worth $3,682,000 after buying an additional 130 shares during the period. Institutional investors and hedge funds 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.