Automatic Data Processing (ADP) Receives $107.29 Average Price Target from Analysts

Shares of Automatic Data Processing (NYSE:ADP) have received a consensus rating of “Hold” from the sixteen research firms that are presently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have given a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $107.29.

A number of analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of Automatic Data Processing from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Barclays PLC lowered shares of Automatic Data Processing from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $110.00 to $105.00 in a research note on Tuesday, July 18th. William Blair lowered shares of Automatic Data Processing from an “outperform” rating to a “market perform” rating in a research note on Friday, July 21st. Deutsche Bank AG reaffirmed a “hold” rating and issued a $102.00 price target on shares of Automatic Data Processing in a research note on Monday, August 21st. Finally, Evercore ISI lowered shares of Automatic Data Processing from an “in-line” rating to an “underperform” rating and set a $85.00 price target for the company. in a research note on Friday, June 2nd.

Shares of Automatic Data Processing (ADP) traded up 0.85% on Friday, reaching $107.46. 1,056,863 shares of the company’s stock were exchanged. Automatic Data Processing has a 1-year low of $85.48 and a 1-year high of $121.77. The stock’s 50-day moving average price is $108.20 and its 200-day moving average price is $103.83. The company has a market capitalization of $47.75 billion and a P/E ratio of 27.91.

Automatic Data Processing (NYSE:ADP) last posted its earnings results on Thursday, July 27th. The business services provider reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.02). The firm had revenue of $3.06 billion for 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 revenue for the quarter was up 5.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.69 earnings per share. Analysts anticipate that Automatic Data Processing will post $3.81 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Sunday, October 1st. Investors of record on Friday, September 8th will be paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 2.14%. The ex-dividend date is Thursday, September 7th.

In related news, VP Brock Albinson sold 3,663 shares of the stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $106.54, for a total transaction of $390,256.02. Following the completion of the sale, the vice president now directly owns 6,287 shares of the company’s stock, valued at $669,816.98. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Donald Weinstein sold 1,933 shares of the stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $101.98, for a total transaction of $197,127.34. Following the sale, the vice president now directly owns 25,737 shares of the company’s stock, valued at $2,624,659.26. The disclosure for this sale can be found here. Over the last three months, insiders have sold 45,522 shares of company stock valued at $4,953,609.

A number of hedge funds have recently added to or reduced their stakes in ADP. Physicians Financial Services Inc. lifted its stake in Automatic Data Processing by 0.3% during the first quarter. Physicians Financial Services Inc. now owns 19,170 shares of the business services provider’s stock valued at $1,963,000 after purchasing an additional 55 shares during the last quarter. K.J. Harrison & Partners Inc raised its holdings in shares of Automatic Data Processing by 223.2% during the first quarter. K.J. Harrison & Partners Inc now owns 12,800 shares of the business services provider’s stock valued at $1,311,000 after acquiring an additional 8,840 shares during the period. Kanawha Capital Management LLC raised its holdings in shares of Automatic Data Processing by 3.2% during the first quarter. Kanawha Capital Management LLC now owns 115,201 shares of the business services provider’s stock valued at $11,795,000 after acquiring an additional 3,578 shares during the period. Investment Counsel Inc. raised its holdings in shares of Automatic Data Processing by 1.7% during the first quarter. Investment Counsel Inc. now owns 27,528 shares of the business services provider’s stock valued at $2,819,000 after acquiring an additional 450 shares during the period. Finally, Everett Harris & Co. CA raised its holdings in shares of Automatic Data Processing by 6.1% during the first quarter. Everett Harris & Co. CA now owns 2,505 shares of the business services provider’s stock valued at $256,000 after acquiring an additional 144 shares during the period.

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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.

Analyst Recommendations for Automatic Data Processing (NYSE:ADP)

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