Automatic Data Processing (ADP) Announces Quarterly Dividend of $0.48
Automatic Data Processing (NASDAQ:ADP) declared a quarterly dividend on Tuesday, August 5th, Analyst Ratings Net reports. Investors of record on Friday, September 12th will be given a dividend of 0.48 per share on Wednesday, October 1st. This represents a $1.92 dividend on an annualized basis and a yield of 2.36%.
A number of analysts have recently weighed in on ADP shares. Analysts at Raymond James reiterated an “outperform” rating on shares of Automatic Data Processing in a research note on Friday. They now have a $86.00 price target on the stock, up previously from $84.00. On the ratings front, analysts at Deutsche Bank reiterated a “hold” rating on shares of Automatic Data Processing in a research note on Friday. They now have a $80.00 price target on the stock, up previously from $71.00. Finally, analysts at Bank of America reiterated a “buy” rating on shares of Automatic Data Processing in a research note on Friday, July 25th. They now have a $90.00 price target on the stock, down previously from $95.00. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $85.25.
Automatic Data Processing (NASDAQ:ADP) traded down 1.06% during mid-day trading on Tuesday, hitting $80.35. 792,776 shares of the company’s stock traded hands. Automatic Data Processing has a one year low of $69.76 and a one year high of $83.82. The stock’s 50-day moving average is $80.39 and its 200-day moving average is $78.05. The company has a market cap of $38.447 billion and a price-to-earnings ratio of 25.88.
Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.63 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.63. The company had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.03 billion. During the same quarter in the previous year, the company posted $0.55 earnings per share. The company’s revenue for the quarter was up 9.7% on a year-over-year basis. On average, analysts predict that Automatic Data Processing will post $3.52 earnings per share for the current fiscal year.
In other Automatic Data Processing news, VP Michael L. Capone unloaded 5,487 shares of Automatic Data Processing stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $81.00, for a total transaction of $444,447.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Automatic Data Processing, Inc (NASDAQ:ADP) is a provider of business outsourcing solutions.
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