Automatic Data Processing (ADP) Receives $107.29 Average Target Price from Analysts
Automatic Data Processing (NYSE:ADP) has been given an average recommendation of “Hold” by the sixteen research firms that are presently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, twelve have given a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $107.29.
A number of brokerages recently commented on ADP. BidaskClub cut Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Tuesday, August 22nd. Morgan Stanley cut Automatic Data Processing from an “equal weight” rating to an “underweight” rating and boosted their target price for the company from $98.00 to $100.00 in a research note on Thursday, August 3rd. Barclays PLC reissued an “equal weight” rating and issued a $105.00 target price on shares of Automatic Data Processing in a research note on Tuesday, August 15th. BMO Capital Markets reissued a “market perform” rating and issued a $105.00 target price on shares of Automatic Data Processing in a research note on Monday, August 21st. Finally, Citigroup Inc. reissued a “neutral” rating and issued a $110.00 target price (up from $98.00) on shares of Automatic Data Processing in a research note on Thursday, August 17th.
In related news, CEO Carlos A. Rodriguez sold 36,363 shares of the firm’s stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $110.00, for a total transaction of $3,999,930.00. Following the completion of the transaction, the chief executive officer now directly owns 146,494 shares of the company’s stock, valued at approximately $16,114,340. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Michael A. Bonarti sold 2,932 shares of the firm’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $101.98, for a total value of $299,005.36. Following the transaction, the insider now directly owns 46,256 shares of the company’s stock, valued at $4,717,186.88. The disclosure for this sale can be found here. In the last ninety days, insiders sold 45,522 shares of company stock worth $4,953,609.
A number of large investors have recently made changes to their positions in the stock. Acrospire Investment Management LLC acquired a new stake in Automatic Data Processing during the 2nd quarter worth about $102,000. Coconut Grove Bank grew its holdings in Automatic Data Processing by 79.6% during the 1st quarter. Coconut Grove Bank now owns 1,038 shares of the business services provider’s stock worth $106,000 after acquiring an additional 460 shares during the period. Grisanti Capital Management LLC grew its holdings in Automatic Data Processing by 4.5% during the 1st quarter. Grisanti Capital Management LLC now owns 1,045 shares of the business services provider’s stock worth $107,000 after acquiring an additional 45 shares during the period. Proficio Capital Partners LLC grew its holdings in Automatic Data Processing by 1.8% during the 2nd quarter. Proficio Capital Partners LLC now owns 964 shares of the business services provider’s stock worth $111,000 after acquiring an additional 17 shares during the period. Finally, Edmond DE Rothschild Holding S.A. acquired a new stake in Automatic Data Processing during the 1st quarter worth about $113,000.
Shares of Automatic Data Processing (ADP) traded down 0.04% during midday trading on Friday, reaching $106.79. The company’s stock had a trading volume of 1,510,089 shares. Automatic Data Processing has a 52-week low of $85.48 and a 52-week high of $121.77. The stock has a 50 day moving average price of $107.88 and a 200-day moving average price of $103.85. The company has a market capitalization of $47.45 billion and a price-to-earnings ratio of 27.74.
Automatic Data Processing (NYSE:ADP) last released its earnings results on Thursday, July 27th. The business services provider reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.02). The firm had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.04 billion. Automatic Data Processing had a return on equity of 26.39% and a net margin of 8.67%. The company’s revenue was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.69 EPS. Equities research analysts expect that Automatic Data Processing will post $3.81 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, October 1st. Shareholders of record on Friday, September 8th will be issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date of this dividend is Thursday, September 7th.
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About Automatic Data Processing
Automatic Data Processing, Inc (ADP) is a provider of human capital management (HCM) solutions to employers, offering solutions to businesses of various sizes. The Company also provides business process outsourcing solutions. Its segments include Employer Services and Professional Employer Organization (PEO) Services.
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