Stifel Nicolaus Cuts Automatic Data Processing (ADP) Price Target to $126.00

Automatic Data Processing (NASDAQ:ADP) had its price objective trimmed by Stifel Nicolaus from $133.00 to $126.00 in a research report report published on Wednesday morning, Marketbeat Ratings reports. The firm currently has a hold rating on the business services provider’s stock.

Several other equities analysts have also commented on ADP. BidaskClub upgraded Automatic Data Processing from a hold rating to a buy rating in a research report on Wednesday. Zacks Investment Research lowered Automatic Data Processing from a buy rating to a hold rating in a research report on Wednesday, January 10th. Royal Bank of Canada upgraded Automatic Data Processing from a sector perform rating to an outperform rating and increased their price objective for the company from $119.00 to $130.00 in a research report on Monday, April 2nd. They noted that the move was a valuation call. BMO Capital Markets reduced their price objective on Automatic Data Processing from $122.00 to $121.00 and set an outperform rating on the stock in a research report on Thursday, February 1st. Finally, Barclays increased their price objective on Automatic Data Processing from $121.00 to $128.00 and gave the company an equal weight rating in a research report on Thursday, February 1st. Nine research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Automatic Data Processing presently has an average rating of Hold and a consensus price target of $120.29.

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Shares of NASDAQ ADP opened at $113.70 on Wednesday. The stock has a market capitalization of $52,088.62, a price-to-earnings ratio of 30.73, a price-to-earnings-growth ratio of 2.58 and a beta of 0.88. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.06 and a current ratio of 1.06. Automatic Data Processing has a twelve month low of $95.50 and a twelve month high of $125.24.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, January 31st. The business services provider reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.10. The business had revenue of $3.24 billion for the quarter, compared to analyst estimates of $3.18 billion. Automatic Data Processing had a return on equity of 43.28% and a net margin of 13.47%. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.87 EPS. research analysts forecast that Automatic Data Processing will post 4.14 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Sunday, April 1st. Investors of record on Friday, March 9th were given a dividend of $0.63 per share. The ex-dividend date was Thursday, March 8th. This represents a $2.52 annualized dividend and a yield of 2.22%. Automatic Data Processing’s payout ratio is 68.11%.

In related news, CEO Carlos A. Rodriguez sold 69,899 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $112.29, for a total transaction of $7,848,958.71. Following the transaction, the chief executive officer now directly owns 161,085 shares in the company, valued at approximately $18,088,234.65. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Edward B. Flynn III sold 7,886 shares of the firm’s stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $117.74, for a total value of $928,497.64. Following the transaction, the insider now owns 40,522 shares in the company, valued at $4,771,060.28. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 112,047 shares of company stock worth $12,966,391. 0.25% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ADP. Pershing Square Capital Management L.P. lifted its holdings in Automatic Data Processing by 402.5% in the 3rd quarter. Pershing Square Capital Management L.P. now owns 8,798,442 shares of the business services provider’s stock worth $961,846,000 after buying an additional 7,047,575 shares during the period. Generation Investment Management LLP purchased a new position in shares of Automatic Data Processing in the 4th quarter valued at approximately $165,761,000. Canada Pension Plan Investment Board lifted its stake in shares of Automatic Data Processing by 42,776.7% in the 3rd quarter. Canada Pension Plan Investment Board now owns 1,376,771 shares of the business services provider’s stock valued at $150,509,000 after purchasing an additional 1,373,560 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in shares of Automatic Data Processing by 42.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,993,394 shares of the business services provider’s stock valued at $467,986,000 after purchasing an additional 1,199,402 shares during the period. Finally, Winslow Capital Management LLC lifted its stake in shares of Automatic Data Processing by 46.5% in the 4th quarter. Winslow Capital Management LLC now owns 1,617,417 shares of the business services provider’s stock valued at $189,545,000 after purchasing an additional 513,652 shares during the period. Institutional investors and hedge funds own 78.53% of the company’s stock.

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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.

Analyst Recommendations for Automatic Data Processing (NASDAQ:ADP)

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