UBS Group Boosts Automatic Data Processing (NASDAQ:ADP) Price Target to $295.00

Automatic Data Processing (NASDAQ:ADP) had its target price lifted by UBS Group from $270.00 to $295.00 in a research note published on Tuesday morning, Benzinga reports. UBS Group currently has a neutral rating on the business services provider’s stock.

Several other brokerages also recently commented on ADP. Citigroup boosted their price objective on shares of Automatic Data Processing from $260.00 to $295.00 and gave the company a “neutral” rating in a research report on Wednesday, September 25th. Jefferies Financial Group boosted their target price on shares of Automatic Data Processing from $260.00 to $290.00 and gave the stock a “hold” rating in a research note on Tuesday. Stifel Nicolaus boosted their target price on shares of Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. boosted their target price on shares of Automatic Data Processing from $250.00 to $285.00 and gave the stock an “underweight” rating in a research note on Tuesday, August 20th. Finally, StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $275.33.

Automatic Data Processing Trading Up 0.1 %

Shares of ADP stock opened at $291.34 on Tuesday. The firm has a 50 day moving average price of $277.86 and a two-hundred day moving average price of $257.66. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $119.24 billion, a PE ratio of 32.52, a price-to-earnings-growth ratio of 3.13 and a beta of 0.79. Automatic Data Processing has a 12-month low of $205.53 and a 12-month high of $294.18.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, July 31st. The business services provider reported $2.09 earnings per share for the quarter, beating analysts’ consensus estimates of $2.06 by $0.03. Automatic Data Processing had a net margin of 19.54% and a return on equity of 89.20%. The company had revenue of $4.80 billion during the quarter, compared to the consensus estimate of $4.74 billion. During the same period in the previous year, the business earned $1.89 earnings per share. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. As a group, analysts predict that Automatic Data Processing will post 10.04 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 1.92%. The ex-dividend date was Friday, September 13th. Automatic Data Processing’s dividend payout ratio (DPR) is currently 62.50%.

Insider Activity

In other news, VP Michael A. Bonarti sold 26,442 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $270.96, for a total transaction of $7,164,724.32. Following the sale, the vice president now owns 88,426 shares in the company, valued at approximately $23,959,908.96. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, VP Michael A. Bonarti sold 26,442 shares of Automatic Data Processing stock in a transaction on Monday, August 26th. The shares were sold at an average price of $270.96, for a total value of $7,164,724.32. Following the transaction, the vice president now owns 88,426 shares in the company, valued at $23,959,908.96. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP David Kwon sold 846 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $270.60, for a total transaction of $228,927.60. Following the completion of the sale, the vice president now directly owns 10,410 shares in the company, valued at approximately $2,816,946. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 58,817 shares of company stock worth $15,999,208. 0.26% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Kiely Wealth Advisory Group Inc. bought a new stake in Automatic Data Processing during the second quarter valued at approximately $27,000. Keener Financial Planning LLC grew its holdings in shares of Automatic Data Processing by 230.3% in the first quarter. Keener Financial Planning LLC now owns 109 shares of the business services provider’s stock worth $28,000 after purchasing an additional 76 shares during the last quarter. Hexagon Capital Partners LLC grew its holdings in Automatic Data Processing by 78.5% during the 3rd quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider’s stock worth $32,000 after acquiring an additional 51 shares in the last quarter. Crewe Advisors LLC bought a new position in Automatic Data Processing during the 1st quarter worth about $33,000. Finally, Pathway Financial Advisers LLC bought a new stake in shares of Automatic Data Processing in the 1st quarter valued at about $36,000. 80.03% of the stock is owned by hedge funds and other institutional investors.

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.