Automatic Data Processing Receives Consensus Recommendation of “Buy” from Analysts (NASDAQ:ADP)
Automatic Data Processing (NASDAQ:ADP) has received a consensus recommendation of “Buy” from the ten ratings firms that are presently covering the company, AmericanBankingNews.com reports. Five investment 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 analysts that have issued ratings on the stock in the last year is $85.43.
In other Automatic Data Processing news, Director John P. Jones III unloaded 5,487 shares of Automatic Data Processing stock on the open market in a transaction dated Friday, August 8th. The stock was sold at an average price of $80.48, for a total value of $441,593.76. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Shares of Automatic Data Processing (NASDAQ:ADP) opened at 81.34 on Friday. 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 $80.68 and its 200-day moving average is $78.10. The company has a market cap of $38.921 billion and a price-to-earnings ratio of 25.85.
Automatic Data Processing (NASDAQ:ADP) last released its earnings data on Thursday, July 31st. The company reported $0.63 earnings per share for the quarter, meeting the analysts’ 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 last year, the company posted $0.55 earnings per share. Automatic Data Processing’s revenue was up 9.7% compared to the same quarter last year. 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. Investors 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 2.36%. The ex-dividend date of this dividend is Wednesday, September 10th.
A number of research firms have recently commented on ADP. 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.
Automatic Data Processing, Inc (NASDAQ:ADP) is a provider of business outsourcing solutions.
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