Automatic Data Processing (ADP) Given Consensus Recommendation of “Hold” by Analysts
Shares of Automatic Data Processing (NYSE:ADP) have been given a consensus rating of “Hold” by the sixteen research firms that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $107.29.
Several equities analysts have weighed in on ADP shares. Zacks Investment Research downgraded shares of Automatic Data Processing from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. BidaskClub downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Friday, September 15th. Barclays PLC downgraded shares of Automatic Data Processing from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $110.00 to $105.00 in a report on Tuesday, July 18th. William Blair downgraded shares of Automatic Data Processing from an “outperform” rating to a “market perform” rating in a report on Friday, July 21st. Finally, Deutsche Bank AG reaffirmed a “hold” rating and set a $102.00 price target on shares of Automatic Data Processing in a report on Monday, August 21st.
Automatic Data Processing (NYSE:ADP) traded down 0.89% during mid-day trading on Wednesday, reaching $113.09. 1,655,750 shares of the company were exchanged. Automatic Data Processing has a one year low of $85.48 and a one year high of $121.77. The stock has a 50 day moving average of $108.03 and a 200-day moving average of $104.51. The stock has a market capitalization of $50.25 billion and a price-to-earnings ratio of 29.37.
Automatic Data Processing (NYSE:ADP) last issued its quarterly earnings results on Thursday, July 27th. The business services provider reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.02). Automatic Data Processing had a net margin of 8.67% and a return on equity of 26.39%. The firm had revenue of $3.06 billion for the quarter, compared to analysts’ expectations of $3.04 billion. During the same period in the prior year, the firm earned $0.69 EPS. Automatic Data Processing’s revenue for the quarter was up 5.7% compared to the same quarter last year. On average, equities analysts expect that Automatic Data Processing will post $3.81 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Sunday, October 1st. Stockholders of record on Friday, September 8th were issued a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.02%. The ex-dividend date of this dividend was Thursday, September 7th.
In other news, VP Maria Black sold 631 shares of the business’s stock in a transaction on Saturday, September 2nd. The shares were sold at an average price of $106.64, for a total value of $67,289.84. Following the transaction, the vice president now owns 10,550 shares of the company’s stock, valued at $1,125,052. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Carlos A. Rodriguez sold 36,363 shares of the business’s stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $110.00, for a total transaction of $3,999,930.00. Following the completion of the transaction, the chief executive officer now directly owns 146,494 shares in the company, valued at approximately $16,114,340. The disclosure for this sale can be found here. Insiders sold 40,657 shares of company stock worth $4,457,476 in the last three months.
Several hedge funds have recently added to or reduced their stakes in ADP. Acrospire Investment Management LLC bought a new stake in Automatic Data Processing in the second quarter worth $102,000. Grisanti Capital Management LLC increased its position in Automatic Data Processing by 4.5% in the first quarter. Grisanti Capital Management LLC now owns 1,045 shares of the business services provider’s stock worth $107,000 after purchasing an additional 45 shares during the last quarter. Proficio Capital Partners LLC increased its position in Automatic Data Processing by 1.8% in the second quarter. Proficio Capital Partners LLC now owns 964 shares of the business services provider’s stock worth $111,000 after purchasing an additional 17 shares during the last quarter. Edmond DE Rothschild Holding S.A. bought a new stake in Automatic Data Processing in the first quarter worth $113,000. Finally, Grove Bank & Trust increased its position in Automatic Data Processing by 16.4% in the second quarter. Grove Bank & Trust now owns 1,208 shares of the business services provider’s stock worth $124,000 after purchasing an additional 170 shares during the last quarter.
Automatic Data Processing Company Profile
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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