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

Automatic Data Processing, Inc. (NASDAQ:ADP) has been given an average rating of “Hold” by the twelve research firms that are presently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $289.91.

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. lifted their price target on Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a research note on Tuesday, August 20th. Royal Bank of Canada boosted their target price on Automatic Data Processing from $267.00 to $315.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 31st. Mizuho raised their price target on shares of Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Thursday, September 19th. Finally, Jefferies Financial Group raised their target price on shares of Automatic Data Processing from $260.00 to $290.00 and gave the company a “hold” rating in a research report on Tuesday, October 22nd.

Insider Buying and Selling at Automatic Data Processing

In other 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 transaction, the vice president now owns 32,604 shares of the company’s stock, valued at approximately $9,781,200. This represents a 54.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Don Mcguire sold 3,179 shares of Automatic Data Processing stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $274.38, for a total value of $872,254.02. Following the sale, the vice president now directly owns 41,696 shares of the company’s stock, valued at $11,440,548.48. This represents a 7.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 70,504 shares of company stock valued at $20,298,056 in the last quarter. 0.21% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ADP. Itau Unibanco Holding S.A. purchased a new position in Automatic Data Processing in the 3rd quarter worth approximately $26,000. Kiely Wealth Advisory Group Inc. bought a new stake in shares of Automatic Data Processing during the 2nd quarter worth $27,000. Dunhill Financial LLC grew its position in Automatic Data Processing by 346.5% in the third quarter. Dunhill Financial LLC now owns 106 shares of the business services provider’s stock worth $29,000 after acquiring an additional 149 shares in the last quarter. Hexagon Capital Partners LLC grew its position in Automatic Data Processing by 78.5% in the third quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider’s stock worth $32,000 after acquiring an additional 51 shares in the last quarter. Finally, Capital Performance Advisors LLP bought a new position in Automatic Data Processing in the third quarter valued at $35,000. 80.03% of the stock is currently owned by institutional investors.

Automatic Data Processing Stock Up 1.1 %

ADP stock opened at $307.97 on Friday. The business’s fifty day moving average price is $290.64 and its two-hundred day moving average price is $267.03. The stock has a market capitalization of $125.48 billion, a price-to-earnings ratio of 32.87, a PEG ratio of 3.55 and a beta of 0.79. Automatic Data Processing has a fifty-two week low of $227.12 and a fifty-two week high of $309.37. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.01 and a quick ratio of 1.01.

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

Automatic Data Processing Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 13th will be issued a dividend of $1.54 per share. This is a boost from Automatic Data Processing’s previous quarterly dividend of $1.40. The ex-dividend date is Friday, December 13th. This represents a $6.16 dividend on an annualized basis and a yield of 2.00%. Automatic Data Processing’s dividend payout ratio is 65.74%.

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.