Automatic Data Processing (NASDAQ:ADP) Stock Price Down 3.5%

Automatic Data Processing, Inc. (NASDAQ:ADP)’s share price traded down 3.5% on Wednesday . The stock traded as low as $239.55 and last traded at $239.64. 478,522 shares changed hands during trading, a decline of 71% from the average session volume of 1,662,418 shares. The stock had previously closed at $248.40.

Analysts Set New Price Targets

Several equities research analysts recently commented on ADP shares. StockNews.com raised Automatic Data Processing from a “hold” rating to a “buy” rating in a report on Tuesday, June 18th. JPMorgan Chase & Co. lowered their price target on shares of Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating on the stock in a research report on Thursday, May 2nd. Evercore ISI raised their price objective on shares of Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a research report on Tuesday, March 26th. Barclays boosted their target price on shares of Automatic Data Processing from $280.00 to $282.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Finally, TD Cowen cut their price target on shares of Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating for the company in a report on Thursday, May 2nd. Two analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $255.42.

Automatic Data Processing Trading Down 0.3 %

The stock has a market cap of $97.12 billion, a price-to-earnings ratio of 26.48, a price-to-earnings-growth ratio of 2.73 and a beta of 0.78. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.01 and a current ratio of 1.01. The company has a 50 day moving average of $245.98 and a 200-day moving average of $243.79.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, May 1st. The business services provider reported $2.88 EPS for the quarter, beating the consensus estimate of $2.79 by $0.09. The business had revenue of $5.30 billion during the quarter, compared to analyst estimates of $5.22 billion. Automatic Data Processing had a net margin of 19.56% and a return on equity of 93.09%. The business’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter last year, the firm posted $2.52 earnings per share. On average, research analysts anticipate that Automatic Data Processing, Inc. will post 9.18 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be issued a $1.40 dividend. The ex-dividend date is Friday, June 14th. This represents a $5.60 dividend on an annualized basis and a yield of 2.36%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 62.50%.

Hedge Funds Weigh In On Automatic Data Processing

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Keener Financial Planning LLC increased its position in shares of Automatic Data Processing by 230.3% in the 1st quarter. Keener Financial Planning LLC now owns 109 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 76 shares during the last quarter. Crewe Advisors LLC purchased a new position in Automatic Data Processing in the first quarter valued at $33,000. Pathway Financial Advisers LLC acquired a new stake in Automatic Data Processing in the first quarter valued at $36,000. Fortitude Family Office LLC purchased a new stake in Automatic Data Processing during the 4th quarter worth about $35,000. Finally, Pineridge Advisors LLC acquired a new position in shares of Automatic Data Processing during the 4th quarter worth about $39,000. 80.03% of the stock is owned by institutional investors and hedge funds.

About Automatic Data Processing

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.