Automatic Data Processing (ADP) Given Average Recommendation of “Hold” by Brokerages
Automatic Data Processing (NYSE:ADP) has earned a consensus recommendation of “Hold” from the sixteen analysts that are currently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have assigned a buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $107.29.
Several equities research analysts have recently commented on the company. Royal Bank Of Canada reissued a “hold” rating and issued a $95.00 price objective on shares of Automatic Data Processing in a report on Friday. BMO Capital Markets reissued a “market perform” rating and issued a $105.00 price objective on shares of Automatic Data Processing in a report on Wednesday, August 9th. BidaskClub raised Automatic Data Processing from a “hold” rating to a “buy” rating in a report on Saturday, September 9th. Robert W. Baird reissued a “neutral” rating and issued a $95.00 price objective on shares of Automatic Data Processing in a report on Sunday, July 30th. Finally, Evercore ISI downgraded Automatic Data Processing from an “in-line” rating to an “underperform” rating and set a $85.00 price objective for the company. in a report on Friday, June 2nd.
Automatic Data Processing (NYSE ADP) traded down 0.01% during mid-day trading on Friday, reaching $106.78. 3,116,724 shares of the company’s stock were exchanged. Automatic Data Processing has a 52-week low of $85.48 and a 52-week high of $121.77. The company has a market cap of $47.45 billion and a PE ratio of 27.74. The stock has a 50-day moving average price of $108.51 and a 200 day moving average price of $103.81.
Automatic Data Processing (NYSE:ADP) last released its quarterly earnings data on Thursday, July 27th. The business services provider reported $0.65 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.02). The company had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.04 billion. Automatic Data Processing had a net margin of 8.67% and a return on equity of 26.39%. The company’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.69 EPS. Equities analysts predict that Automatic Data Processing will post $3.81 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Sunday, October 1st. Investors of record on Friday, September 8th will be given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date is Thursday, September 7th.
In related news, VP Donald Weinstein sold 1,933 shares of the firm’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $101.98, for a total value of $197,127.34. Following the transaction, the vice president now owns 25,737 shares in the company, valued at $2,624,659.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Brock Albinson sold 3,663 shares of the firm’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $106.54, for a total value of $390,256.02. Following the completion of the transaction, the vice president now owns 6,287 shares in the company, valued at approximately $669,816.98. The disclosure for this sale can be found here. Insiders sold 45,522 shares of company stock worth $4,953,609 in the last 90 days.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in Automatic Data Processing by 2.4% in the second quarter. Vanguard Group Inc. now owns 34,999,981 shares of the business services provider’s stock valued at $3,586,099,000 after acquiring an additional 811,960 shares during the last quarter. BlackRock Inc. grew its position in Automatic Data Processing by 0.8% in the second quarter. BlackRock Inc. now owns 29,869,208 shares of the business services provider’s stock valued at $3,060,398,000 after acquiring an additional 237,439 shares during the last quarter. Alliancebernstein L.P. grew its position in Automatic Data Processing by 6.2% in the first quarter. Alliancebernstein L.P. now owns 8,345,691 shares of the business services provider’s stock valued at $854,515,000 after acquiring an additional 485,320 shares during the last quarter. Wells Fargo & Company MN grew its position in Automatic Data Processing by 2.9% in the second quarter. Wells Fargo & Company MN now owns 6,794,660 shares of the business services provider’s stock valued at $696,182,000 after acquiring an additional 190,717 shares during the last quarter. Finally, Polen Capital Management LLC grew its position in Automatic Data Processing by 6.6% in the second quarter. Polen Capital Management LLC now owns 6,661,902 shares of the business services provider’s stock valued at $682,578,000 after acquiring an additional 411,369 shares during the last quarter.
About Automatic Data Processing
Automatic Data Processing, Inc (ADP) is a provider of human capital management (HCM) solutions to employers, offering solutions to businesses of various sizes. The Company also provides business process outsourcing solutions. Its segments include Employer Services and Professional Employer Organization (PEO) Services.
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