Brokerages Set Automatic Data Processing, Inc. (NASDAQ:ADP) PT at $254.58

Shares of Automatic Data Processing, Inc. (NASDAQ:ADP) have earned a consensus rating of “Hold” from the ten analysts that are currently covering the company, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $254.58.

A number of equities research analysts have weighed in on ADP shares. Wolfe Research upgraded shares of Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a research note on Thursday, January 4th. Evercore ISI lifted their price target on shares of Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a research note on Tuesday, March 26th. Mizuho lifted their price objective on Automatic Data Processing from $265.00 to $272.00 and gave the company a “buy” rating in a report on Monday, March 11th. StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $267.00 price objective on shares of Automatic Data Processing in a report on Thursday, February 1st.

Insider Transactions at Automatic Data Processing

In other news, VP Joseph Desilva sold 1,904 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $255.00, for a total transaction of $485,520.00. Following the completion of the transaction, the vice president now directly owns 17,179 shares in the company, valued at approximately $4,380,645. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, VP David Kwon sold 863 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $250.00, for a total value of $215,750.00. Following the completion of the transaction, the vice president now directly owns 8,285 shares in the company, valued at approximately $2,071,250. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Joseph Desilva sold 1,904 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $255.00, for a total value of $485,520.00. Following the completion of the transaction, the vice president now owns 17,179 shares of the company’s stock, valued at $4,380,645. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,162 shares of company stock worth $3,741,859. 0.26% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Automatic Data Processing

Several institutional investors and hedge funds have recently modified their holdings of the business. Ardent Capital Management Inc. bought a new stake in Automatic Data Processing in the 3rd quarter valued at approximately $392,000. Americana Partners LLC lifted its stake in Automatic Data Processing by 3.1% in the 3rd 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. lifted its stake in Automatic Data Processing by 28.5% in the 4th quarter. Everence Capital Management Inc. now owns 17,150 shares of the business services provider’s stock valued at $3,995,000 after acquiring an additional 3,800 shares in the last quarter. Cyndeo Wealth Partners LLC raised its stake in shares of Automatic Data Processing by 36.7% during 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 bought a new stake in shares of Automatic Data Processing during the 4th quarter worth approximately $1,635,000. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Automatic Data Processing Trading Down 0.5 %

Shares of Automatic Data Processing stock opened at $242.90 on Friday. The company’s fifty day simple moving average is $247.54 and its 200-day simple moving average is $239.18. The company has a market cap of $99.78 billion, a price-to-earnings ratio of 28.28, a PEG ratio of 2.29 and a beta of 0.78. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.69. Automatic Data Processing has a 1 year low of $201.46 and a 1 year high of $256.84.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, January 31st. The business services provider reported $2.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.10 by $0.03. The business had revenue of $4.67 billion for the quarter, compared to the consensus estimate of $4.65 billion. Automatic Data Processing had a net margin of 19.14% and a return on equity of 95.22%. Automatic Data Processing’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter last year, the company posted $1.96 earnings per share. As a group, sell-side analysts expect that Automatic Data Processing will post 9.14 EPS for the current year.

Automatic Data Processing Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be issued a dividend of $1.40 per share. The ex-dividend date is Friday, June 14th. This represents a $5.60 annualized dividend and a yield of 2.31%. Automatic Data Processing’s dividend payout ratio is currently 65.19%.

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.