BidaskClub lowered shares of Automatic Data Processing (NASDAQ:ADP) from a hold rating to a sell rating in a research report report published on Saturday morning.
Other research analysts have also recently issued research reports about the company. Zacks Investment Research upgraded Automatic Data Processing from a hold rating to a buy rating and set a $128.00 target price on the stock in a research report on Monday, October 16th. Bank of America upgraded Automatic Data Processing from a neutral rating to a buy rating in a research report on Tuesday, December 5th. Goldman Sachs Group upgraded Automatic Data Processing from a neutral rating to a buy rating and boosted their price target for the stock from $116.02 to $135.00 in a report on Monday, December 11th. Morgan Stanley upgraded Automatic Data Processing from an underweight rating to an equal rating and set a $114.00 price target on the stock in a report on Tuesday, November 14th. Finally, Barclays boosted their price target on Automatic Data Processing from $105.00 to $115.00 and gave the stock an equal weight rating in a report on Thursday, October 26th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $115.21.
Automatic Data Processing (ADP) opened at $118.47 on Friday. Automatic Data Processing has a 12-month low of $94.11 and a 12-month high of $121.77. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.10 and a quick ratio of 1.10. The stock has a market capitalization of $52,540.22, a PE ratio of 30.15, a price-to-earnings-growth ratio of 2.93 and a beta of 0.85.
Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Thursday, November 2nd. The business services provider reported $0.91 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.06. Automatic Data Processing had a return on equity of 42.34% and a net margin of 14.08%. The firm had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $3.06 billion. During the same quarter in the previous year, the business posted $0.86 earnings per share. The business’s revenue for the quarter was up 5.6% on a year-over-year basis. equities research analysts forecast that Automatic Data Processing will post 3.91 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, January 1st. Stockholders of record on Friday, December 8th were issued a dividend of $0.63 per share. This is a boost from Automatic Data Processing’s previous quarterly dividend of $0.57. This represents a $2.52 annualized dividend and a dividend yield of 2.13%. The ex-dividend date was Thursday, December 7th. Automatic Data Processing’s payout ratio is 64.12%.
In related news, insider Michael A. Bonarti sold 3,900 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $116.03, for a total value of $452,517.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Donald Weinstein sold 2,275 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $116.03, for a total value of $263,968.25. Following the completion of the sale, the vice president now owns 27,399 shares in the company, valued at $3,179,105.97. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 115,505 shares of company stock worth $13,612,788. Company insiders own 0.25% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Sawyer & Company Inc acquired a new position in Automatic Data Processing in the fourth quarter valued at approximately $2,615,000. VNBTrust National Association acquired a new position in Automatic Data Processing in the fourth quarter valued at approximately $211,000. Windward Capital Management Co. CA lifted its stake in Automatic Data Processing by 76.3% in the fourth quarter. Windward Capital Management Co. CA now owns 17,051 shares of the business services provider’s stock valued at $1,998,000 after buying an additional 7,377 shares during the period. Gillespie Robinson & Grimm Inc. acquired a new position in Automatic Data Processing in the fourth quarter valued at approximately $328,000. Finally, Park National Corp OH lifted its stake in Automatic Data Processing by 0.8% in the fourth quarter. Park National Corp OH now owns 358,012 shares of the business services provider’s stock valued at $41,956,000 after buying an additional 2,898 shares during the period. Institutional investors and hedge funds own 78.68% of the company’s stock.
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Automatic Data Processing Company Profile
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.
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