Automatic Data Processing Given Average Recommendation of “Buy” by Analysts (NASDAQ:ADP)
Shares of Automatic Data Processing (NASDAQ:ADP) have been given a consensus rating of “Buy” by the ten ratings firms that are covering the stock, American Banking and Market News reports. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $85.43.
Shares of Automatic Data Processing (NASDAQ:ADP) opened at 80.07 on Friday. Automatic Data Processing has a 52-week low of $69.76 and a 52-week high of $83.82. The stock has a 50-day moving average of $80.49 and a 200-day moving average of $78.09. The company has a market cap of $38.313 billion and a price-to-earnings ratio of 25.52.
Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.63 EPS for the quarter, meeting the Thomson Reuters 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 prior year, the company posted $0.55 earnings per share. The company’s quarterly revenue was up 9.7% on a year-over-year basis. Analysts expect that Automatic Data Processing will post $3.52 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, October 1st. Shareholders of record on Friday, September 12th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date of this dividend is Wednesday, September 10th.
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, August 1st. They now have a $86.00 price target on the stock, up previously from $84.00. Separately, analysts at Deutsche Bank reiterated a “hold” rating on shares of Automatic Data Processing in a research note on Friday, August 1st. 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.
In other Automatic Data Processing news, VP Michael L. Capone sold 5,487 shares of the company’s stock on the open market 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Automatic Data Processing, Inc (NASDAQ:ADP) is a provider of business outsourcing solutions.
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