Automatic Data Processing (NASDAQ:ADP) Hits New 12-Month High at $261.85

Shares of Automatic Data Processing, Inc. (NASDAQ:ADPGet Rating) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $261.85 and last traded at $261.79, with a volume of 31861 shares. The stock had previously closed at $257.60.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Thursday, November 17th. Barclays upped their price objective on shares of Automatic Data Processing to $280.00 in a report on Tuesday, August 9th. Robert W. Baird boosted their price target on Automatic Data Processing to $251.00 in a research report on Tuesday, November 1st. Mizuho lifted their price objective on Automatic Data Processing from $250.00 to $257.00 and gave the company a “buy” rating in a research note on Monday, August 1st. Finally, Cowen raised their price target on Automatic Data Processing from $230.00 to $236.00 in a report on Tuesday, September 20th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $240.55.

Automatic Data Processing Stock Up 0.2 %

The business has a 50-day moving average of $237.38 and a 200 day moving average of $230.36. The company has a market capitalization of $108.93 billion, a PE ratio of 36.32, a P/E/G ratio of 2.64 and a beta of 0.82. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.97 and a quick ratio of 0.97.

Automatic Data Processing (NASDAQ:ADPGet Rating) last issued its quarterly earnings data on Wednesday, October 26th. The business services provider reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.08. Automatic Data Processing had a return on equity of 80.50% and a net margin of 17.93%. The business had revenue of $4.22 billion for the quarter, compared to analysts’ expectations of $4.16 billion. During the same period in the prior year, the firm earned $1.65 EPS. The company’s revenue for the quarter was up 10.3% on a year-over-year basis. Equities research analysts predict that Automatic Data Processing, Inc. will post 8.13 earnings per share for the current year.

Automatic Data Processing Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, January 1st. Investors of record on Friday, December 9th will be paid a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend is Thursday, December 8th. This is an increase from Automatic Data Processing’s previous quarterly dividend of $1.04. Automatic Data Processing’s dividend payout ratio (DPR) is currently 57.54%.

Insider Activity

In other Automatic Data Processing news, VP Laura G. Brown sold 252 shares of the firm’s stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $228.35, for a total transaction of $57,544.20. Following the transaction, the vice president now directly owns 6,016 shares in the company, valued at approximately $1,373,753.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, VP Christopher D’ambrosio sold 174 shares of the company’s stock in a transaction on Thursday, September 8th. The shares were sold at an average price of $236.69, for a total value of $41,184.06. Following the sale, the vice president now directly owns 3,157 shares of the company’s stock, valued at approximately $747,230.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Laura G. Brown sold 252 shares of the firm’s stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $228.35, for a total transaction of $57,544.20. Following the transaction, the vice president now directly owns 6,016 shares of the company’s stock, valued at approximately $1,373,753.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 97,091 shares of company stock valued at $23,026,905. Corporate insiders own 0.33% of the company’s stock.

Institutional Investors Weigh In On Automatic Data Processing

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ADP. BlackRock Inc. grew its holdings in Automatic Data Processing by 5.1% during the first quarter. BlackRock Inc. now owns 33,637,473 shares of the business services provider’s stock worth $7,653,871,000 after acquiring an additional 1,642,852 shares during the period. Aaron Wealth Advisors LLC grew its stake in shares of Automatic Data Processing by 23,114.1% during the 1st quarter. Aaron Wealth Advisors LLC now owns 1,481,057 shares of the business services provider’s stock worth $6,509,000 after purchasing an additional 1,474,677 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its stake in shares of Automatic Data Processing by 325.2% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 1,265,068 shares of the business services provider’s stock valued at $286,146,000 after purchasing an additional 967,534 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Automatic Data Processing by 62.5% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,127,240 shares of the business services provider’s stock worth $446,805,000 after buying an additional 817,989 shares in the last quarter. Finally, Capital World Investors grew its position in Automatic Data Processing by 16.9% during the first quarter. Capital World Investors now owns 5,393,160 shares of the business services provider’s stock valued at $1,227,160,000 after buying an additional 779,457 shares during the period. 79.06% of the stock is owned by institutional investors and hedge funds.

About Automatic Data Processing

(Get Rating)

Automatic Data Processing, Inc provides cloud-based human capital management solutions worldwide. It operates in two segments, Employer Services and Professional Employer Organization (PEO). The Employer Services segment offers strategic, cloud-based platforms, and human resources (HR) outsourcing solutions.

See Also

Receive News & Ratings for Automatic Data Processing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Automatic Data Processing and related companies with MarketBeat.com's FREE daily email newsletter.