Automatic Data Processing (NASDAQ:ADP) PT Raised to $282.00 at Barclays

Automatic Data Processing (NASDAQ:ADP) had its target price boosted by Barclays from $280.00 to $282.00 in a report released on Thursday morning, Benzinga reports. Barclays currently has an overweight rating on the business services provider’s stock.

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

Automatic Data Processing Trading Down 0.1 %

ADP stock opened at $241.89 on Thursday. Automatic Data Processing has a 52 week low of $205.53 and a 52 week high of $256.84. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.01 and a current ratio of 1.01. The company’s 50-day simple moving average is $245.63 and its 200 day simple moving average is $239.08. The company has a market capitalization of $99.37 billion, a PE ratio of 27.00, a price-to-earnings-growth ratio of 2.27 and a beta of 0.78.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, May 1st. The business services provider reported $2.88 earnings per share for the quarter, beating analysts’ consensus estimates of $2.79 by $0.09. The company had revenue of $5.30 billion during the quarter, compared to the consensus estimate of $5.22 billion. Automatic Data Processing had a net margin of 19.56% and a return on equity of 93.09%. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the business earned $2.52 earnings per share. As a group, sell-side analysts anticipate that Automatic Data Processing will post 9.15 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be paid a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 2.32%. The ex-dividend date is Friday, June 14th. Automatic Data Processing’s payout ratio is currently 62.50%.

Insider Buying and Selling

In other news, VP Sreenivasa Kutam sold 368 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $247.01, for a total transaction of $90,899.68. Following the completion of the transaction, the vice president now directly owns 20,319 shares in the company, valued at $5,018,996.19. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Automatic Data Processing news, VP David Kwon sold 863 shares of the stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $250.00, for a total transaction of $215,750.00. Following the completion of the sale, the vice president now directly owns 8,285 shares in the company, valued at approximately $2,071,250. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Sreenivasa Kutam sold 368 shares of Automatic Data Processing stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $247.01, for a total value of $90,899.68. Following the completion of the transaction, the vice president now directly owns 20,319 shares of the company’s stock, valued at $5,018,996.19. The disclosure for this sale can be found here. Insiders have sold a total of 3,829 shares of company stock valued at $965,274 over the last 90 days. 0.26% of the stock is owned by insiders.

Institutional Investors Weigh In On Automatic Data Processing

A number of hedge funds have recently added to or reduced their stakes in the business. Ardent Capital Management Inc. acquired a new stake in shares of Automatic Data Processing in the 3rd quarter valued at about $392,000. Americana Partners LLC increased its holdings in shares of Automatic Data Processing by 3.1% during the third quarter. Americana Partners LLC now owns 22,228 shares of the business services provider’s stock valued at $5,330,000 after acquiring an additional 660 shares in the last quarter. Everence Capital Management Inc. raised its position in shares of Automatic Data Processing by 28.5% during the fourth quarter. Everence Capital Management Inc. now owns 17,150 shares of the business services provider’s stock worth $3,995,000 after purchasing an additional 3,800 shares during the period. Cyndeo Wealth Partners LLC lifted its holdings in shares of Automatic Data Processing by 36.7% in the 4th quarter. Cyndeo Wealth Partners LLC now owns 19,800 shares of the business services provider’s stock worth $4,613,000 after purchasing an additional 5,318 shares in the last quarter. Finally, BKM Wealth Management LLC acquired a new stake in Automatic Data Processing in the 4th quarter valued at $1,635,000. 80.03% of the stock is currently owned by institutional investors.

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.