Automatic Data Processing (NASDAQ:ADP) Price Target Raised to $325.00 at Barclays

Automatic Data Processing (NASDAQ:ADP) had its price objective lifted by Barclays from $310.00 to $325.00 in a report issued on Monday,Benzinga reports. The firm currently has an overweight rating on the business services provider’s stock.

Other analysts have also issued reports about the stock. TD Cowen increased their price target on shares of Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Stifel Nicolaus increased 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 report on Thursday, August 1st. StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. UBS Group increased their price objective on Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. boosted their target price on Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a research note on Tuesday, August 20th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $289.91.

Automatic Data Processing Trading Down 0.1 %

NASDAQ ADP opened at $304.85 on Monday. The firm’s 50 day moving average price is $282.92 and its two-hundred day moving average price is $261.11. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.01 and a current ratio of 1.01. Automatic Data Processing has a twelve month low of $223.28 and a twelve month high of $306.71. The stock has a market cap of $124.21 billion, a price-to-earnings ratio of 32.53, a PEG ratio of 3.37 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, October 30th. The business services provider reported $2.33 earnings per share for the quarter, beating analysts’ consensus estimates of $2.21 by $0.12. The business had revenue of $4.83 billion for the quarter, compared to the consensus estimate of $4.77 billion. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. Automatic Data Processing’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.08 earnings per share. Equities analysts anticipate that Automatic Data Processing will post 9.94 EPS for the current year.

Automatic Data Processing Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 13th will be issued a $1.54 dividend. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $1.40. This represents a $6.16 annualized dividend and a yield of 2.02%. The ex-dividend date of this dividend is Friday, December 13th. Automatic Data Processing’s payout ratio is 59.77%.

Insiders Place Their Bets

In other news, VP David Kwon sold 846 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $270.60, for a total value 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. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Automatic Data Processing news, Director Carlos A. Rodriguez sold 9,203 shares of Automatic Data Processing stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $269.45, for a total value of $2,479,748.35. Following the transaction, the director now directly owns 36,741 shares of the company’s stock, valued at $9,899,862.45. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP David Kwon sold 846 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $270.60, for a total value of $228,927.60. Following the transaction, the vice president now owns 10,410 shares of the company’s stock, valued at approximately $2,816,946. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 58,817 shares of company stock valued at $15,999,208 over the last 90 days. 0.21% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Automatic Data Processing

Institutional investors and hedge funds have recently bought and sold shares of the stock. Accredited Investors Inc. increased its holdings in shares of Automatic Data Processing by 4,431.5% during the 3rd quarter. Accredited Investors Inc. now owns 2,315,295 shares of the business services provider’s stock worth $640,712,000 after purchasing an additional 2,264,202 shares during the period. BlueSpruce Investments LP acquired a new stake in Automatic Data Processing during the first quarter worth about $365,757,000. International Assets Investment Management LLC increased its stake in Automatic Data Processing by 28,478.6% during the third quarter. International Assets Investment Management LLC now owns 1,194,587 shares of the business services provider’s stock valued at $3,305,780,000 after acquiring an additional 1,190,407 shares during the period. Jacobs Levy Equity Management Inc. raised its holdings in Automatic Data Processing by 238.1% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 784,003 shares of the business services provider’s stock valued at $195,797,000 after acquiring an additional 552,096 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its position in shares of Automatic Data Processing by 242.4% in the 2nd quarter. Mackenzie Financial Corp now owns 644,135 shares of the business services provider’s stock worth $153,749,000 after acquiring an additional 456,027 shares during the period. Institutional investors own 80.03% of the company’s stock.

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.