Automatic Data Processing (NYSE:ADP) Receives Consensus Rating of “Hold” from Brokerages
Shares of Automatic Data Processing (NYSE:ADP) have received an average rating of “Hold” from the seven ratings firms that are currently covering the company. One analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $94.67.
ADP has been the topic of several research reports. Zacks Investment Research raised Automatic Data Processing from a “hold” rating to a “buy” rating and set a $98.00 price objective on the stock in a research report on Wednesday, June 29th. Sanford C. Bernstein raised Automatic Data Processing from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $97.00 to $110.00 in a research report on Monday, July 11th. Robert W. Baird cut Automatic Data Processing from an “outperform” rating to a “neutral” rating and set a $94.00 price target on the stock. in a research report on Friday, July 29th. Citigroup Inc. reissued a “neutral” rating and issued a $90.00 price target (up from $89.00) on shares of Automatic Data Processing in a research report on Friday, July 29th. Finally, JPMorgan Chase & Co. reissued a “hold” rating and issued a $93.00 price target on shares of Automatic Data Processing in a research report on Friday, July 29th.
In related news, CEO Carlos A. Rodriguez sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 6th. The shares were sold at an average price of $89.91, for a total value of $899,100.00. Following the completion of the transaction, the chief executive officer now directly owns 119,877 shares in the company, valued at approximately $10,778,141.07. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Deborah L. Dyson sold 898 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $88.06, for a total transaction of $79,077.88. Following the completion of the transaction, the vice president now owns 11,891 shares of the company’s stock, valued at $1,047,121.46. The disclosure for this sale can be found here.
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Institutional investors have recently made changes to their positions in the company. Jarislowsky Fraser Ltd raised its position in shares of Automatic Data Processing by 269.1% in the second quarter. Jarislowsky Fraser Ltd now owns 1,158,265 shares of the company’s stock worth $44,030,000 after buying an additional 844,458 shares during the last quarter. Emerald Acquisition Ltd. purchased a new position in shares of Automatic Data Processing during the second quarter worth $68,548,000. BlackRock Fund Advisors raised its position in shares of Automatic Data Processing by 7.9% in the second quarter. BlackRock Fund Advisors now owns 8,269,243 shares of the company’s stock worth $759,695,000 after buying an additional 608,214 shares during the last quarter. Williams Jones & Associates LLC raised its position in shares of Automatic Data Processing by 339.2% in the second quarter. Williams Jones & Associates LLC now owns 753,887 shares of the company’s stock worth $69,260,000 after buying an additional 582,256 shares during the last quarter. Finally, Polen Capital Management LLC raised its position in shares of Automatic Data Processing by 11.5% in the second quarter. Polen Capital Management LLC now owns 4,362,933 shares of the company’s stock worth $400,823,000 after buying an additional 450,019 shares during the last quarter.
Shares of Automatic Data Processing (NYSE:ADP) traded up 0.43% during mid-day trading on Monday, hitting $87.75. The stock had a trading volume of 549,137 shares. Automatic Data Processing has a 52-week low of $76.65 and a 52-week high of $96.00. The stock’s 50-day moving average price is $88.55 and its 200-day moving average price is $89.36. The firm has a market cap of $40.03 billion and a PE ratio of 27.02.
Automatic Data Processing (NYSE:ADP) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.69 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.02. The firm had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.94 billion. The business’s revenue was up 7.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.55 earnings per share. On average, analysts anticipate that Automatic Data Processing will post $3.61 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Saturday, October 1st. Investors of record on Friday, September 9th were issued a $0.53 dividend. The ex-dividend date was Wednesday, September 7th. This represents a $2.12 dividend on an annualized basis and a yield of 2.43%.
About Automatic Data Processing
Automatic Data Processing, Inc (ADP) is a provider of human capital management (HCM) solutions and business process outsourcing. The Company operates through two segments: Employer Services and Professional Employer Organization (PEO) Services. The Employer Services segment offers a range of business outsourcing and technology-enabled HCM solutions.
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