Shares of Automatic Data Processing (NASDAQ:ADP) have been given an average recommendation of “Buy” by the nineteen analysts that are covering the stock, Marketbeat reports. Eight research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $151.13.

Several analysts have weighed in on ADP shares. Jefferies Financial Group started coverage on Automatic Data Processing in a report on Monday, October 1st. They issued a “hold” rating and a $160.00 price target on the stock. Barclays began coverage on Automatic Data Processing in a research report on Wednesday, November 14th. They set an “overweight” rating and a $168.00 price objective on the stock. Zacks Investment Research reiterated a “hold” rating on shares of Automatic Data Processing in a research report on Monday, November 12th. Guggenheim began coverage on Automatic Data Processing in a research report on Monday, August 20th. They set a “buy” rating and a $175.00 price objective on the stock. Finally, Moffett Nathanson began coverage on Automatic Data Processing in a research report on Thursday, October 4th. They set a “buy” rating and a $180.00 price objective on the stock.

In other news, insider Michael A. Bonarti sold 2,334 shares of Automatic Data Processing stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $144.77, for a total value of $337,893.18. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Carlos A. Rodriguez sold 62,228 shares of Automatic Data Processing stock in a transaction that occurred on Friday, November 16th. The stock was sold at an average price of $145.59, for a total value of $9,059,774.52. Following the completion of the sale, the chief executive officer now owns 137,177 shares in the company, valued at $19,971,599.43. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 179,767 shares of company stock worth $26,396,593. 0.33% of the stock is owned by corporate insiders.

Several hedge funds have recently modified their holdings of ADP. BlackRock Inc. raised its stake in Automatic Data Processing by 1.4% during the second quarter. BlackRock Inc. now owns 29,370,904 shares of the business services provider’s stock valued at $3,939,812,000 after buying an additional 410,257 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Automatic Data Processing by 1.3% in the third quarter. Bank of New York Mellon Corp now owns 9,605,668 shares of the business services provider’s stock worth $1,447,190,000 after acquiring an additional 121,162 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Automatic Data Processing by 213.1% in the third quarter. JPMorgan Chase & Co. now owns 8,639,847 shares of the business services provider’s stock worth $1,301,682,000 after acquiring an additional 5,880,242 shares during the period. Morgan Stanley grew its holdings in Automatic Data Processing by 11.7% during the second quarter. Morgan Stanley now owns 7,671,784 shares of the business services provider’s stock valued at $1,029,094,000 after purchasing an additional 801,928 shares during the period. Finally, Polen Capital Management LLC grew its holdings in Automatic Data Processing by 1.2% during the second quarter. Polen Capital Management LLC now owns 7,146,946 shares of the business services provider’s stock valued at $958,691,000 after purchasing an additional 84,493 shares during the period. Hedge funds and other institutional investors own 79.88% of the company’s stock.

ADP traded up $0.38 during trading on Friday, reaching $140.90. 10,825 shares of the company were exchanged, compared to its average volume of 2,531,550. The stock has a market capitalization of $62.79 billion, a price-to-earnings ratio of 32.37, a price-to-earnings-growth ratio of 2.18 and a beta of 0.91. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.03 and a current ratio of 1.03. Automatic Data Processing has a 12-month low of $107.61 and a 12-month high of $153.51.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, October 31st. The business services provider reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.09. The business had revenue of $3.32 billion for the quarter, compared to analysts’ expectations of $3.28 billion. Automatic Data Processing had a return on equity of 50.96% and a net margin of 12.71%. The firm’s quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.94 EPS. On average, research analysts forecast that Automatic Data Processing will post 5.26 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 1st. Investors of record on Friday, December 14th will be given a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 2.24%. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $0.69. The ex-dividend date of this dividend is Thursday, December 13th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 63.45%.

About Automatic Data Processing

Automatic Data Processing, Inc provides business process outsourcing services worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO) Services. The Employer Services segment offers various human resources (HR) outsourcing and technology-based human capital management solutions.

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Analyst Recommendations for Automatic Data Processing (NASDAQ:ADP)

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