Automatic Data Processing, Inc. (NASDAQ:ADP) Receives Average “Hold” Recommendation from Brokerages

Shares of Automatic Data Processing, Inc. (NASDAQ:ADP – Get Rating) earned an average rating of “Hold” from the fourteen brokerages that currently cover the company, Marketbeat.com reports. One analyst rated the stock with a sell rating, seven issued a hold rating and two issued a buy rating on the company. The average 1-year price target among brokerages that updated their coverage on the stock in the last year is $230.69.

A number of equity analysts have published reports on ADP shares. Mizuho raised its price target on automatic data processing from $235.00 to $250.00 and gave the stock a “buy” rating in a report released on Monday, May 2. Barclays raised its price target on automatic data processing from $238.00 to $257.00 and gave the stock an “overweight” rating in a Monday, May 2 report. Bank of America upgraded Automatic Data Processing from an “underperforming” rating to a “neutral” rating and set a price target of $223.00 for the company in a Wednesday, March 9 research note. Citigroup raised its price target on automatic data processing from $212.00 to $230.00 in a Monday, May 2 research note. Finally, Stifel Nicolaus reissued a “hold” rating and issued a price target of $238.00 (from $222.00 previously) on Automatic Data Processing stock in a Friday, March 11 research note.

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NASDAQ: ADP opened at $213.23 on Friday. The stock has a fifty-day moving average price of $214.72 and a 200-day moving average price of $218.52. The company has a market capitalization of $89.08 billion, a price/earnings ratio of 31.50, a PEG ratio of 2.62 and a beta of 0.82. The company has a debt ratio of 0.71, a quick ratio of 1.01 and a current ratio of 1.01. Automatic Data Processing has a fifty-two week low of $192.26 and a fifty-two week high of $248.96.

The Automatic Data Processing (NASDAQ:ADP – Get Rating) released its quarterly results for the last time on Wednesday, April 27. The business services provider reported EPS of $2.21 for the quarter, beating analyst consensus estimates of $2.07 by $0.14. Automatic Data Processing had a return on equity of 56.01% and a net margin of 17.77%. The company posted revenue of $4.51 billion in the quarter, versus $4.45 billion expected by analysts. In the same quarter of the previous year, the company achieved EPS of $1.89. Automatic data processing revenue increased 10.0% year-on-year. Research analysts predict Automatic Data Processing will post EPS of 6.97 for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, July 1. Investors of record on Friday, June 10 received a dividend of $1.04 per share. The ex-dividend date was Thursday, June 9. This represents an annualized dividend of $4.16 and a dividend yield of 1.95%. The distribution rate of automatic data processing is 61.45%.

In other ADP news, Vice President Deborah L. Dyson sold 2,787 shares in a trade that took place on Tuesday, April 5. The stock was sold at an average price of $234.55, for a total value of $653,690.85. Following the transaction, the vice president now owns 26,663 shares of the company, valued at $6,253,806.65. The sale was disclosed in a filing with the SEC, accessible via this hyperlink. Additionally, Vice Chairman Christopher D’ambrosio sold 312 shares in a trade that took place on Monday, May 9. The stock was sold at an average price of $214.07, for a total value of $66,789.84. Following the completion of the transaction, the vice president now owns 1,663 shares of the company, valued at approximately $355,998.41. The disclosure of this sale can be found here. 0.34% of the shares are currently held by company insiders.

Several institutional investors have recently changed their stake in the company. Sandy Cove Advisors LLC purchased a new stake in shares of Automatic Data Processing during the fourth quarter, valued at approximately $28,000. Crewe Advisors LLC purchased a new stake in shares of Automatic Data Processing during the first quarter worth approximately $28,000. Tortoise Investment Management LLC increased its position in Automatic Data Processing shares by 70.8% during the fourth quarter. Tortoise Investment Management LLC now owns 123 shares of the business services provider valued at $30,000 after acquiring 51 additional shares in the last quarter. Delos Wealth Advisors LLC increased its position in Automatic Data Processing shares by 588.9% during the fourth quarter. Delos Wealth Advisors LLC now owns 124 shares of the business services provider valued at $31,000 after acquiring 106 additional shares in the last quarter. Finally, Landmark Wealth Management LLC purchased a new stake in shares of Automatic Data Processing during the first quarter, valued at approximately $31,000. 78.84% of the shares are held by hedge funds and other institutional investors.

Automatic Data Processing Company Profile (Get a rating)

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

Further reading

Analyst Recommendations for Automatic Data Processing (NASDAQ: ADP)

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