Automatic Data Processing Given Neutral Rating at JPMorgan Chase & Co. (ADP)
Automatic Data Processing (NASDAQ:ADP)‘s stock had its “neutral” rating reaffirmed by analysts at JPMorgan Chase & Co. in a research report issued to clients and investors on Wednesday. They currently have a $94.00 target price on the stock, up from their previous target price of $89.00. JPMorgan Chase & Co.’s price target suggests a potential upside of 15.66% from the company’s current price.
Automatic Data Processing (NASDAQ:ADP) traded up 0.90% on Wednesday, hitting $82.00. The stock had a trading volume of 1,059,058 shares. 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 $80.74 and a 200-day moving average of $78.12. The company has a market cap of $39.435 billion and a P/E ratio of 25.90.
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 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. On average, analysts predict that Automatic Data Processing will post $3.52 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, October 1st. Stockholders 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 other firms have also 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. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Automatic Data Processing currently has an average rating of “Hold” and a consensus price target of $86.50.
In other Automatic Data Processing news, Director Leslie A. Brun unloaded 1,250 shares of the stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $81.29, for a total value of $101,612.50. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Automatic Data Processing, Inc (NASDAQ:ADP) is a provider of business outsourcing solutions.
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